Should a publicly traded company in a perfect market enact risk management actions to mitigate their company$$s unique risks?

Group of answer choices

No$,$ shareholders are able mitigate the company's unique risks more efficiently through diversification.

Yes, as long as r is reduced by enough to raise the company's firm value.

No$,$ it's more efficient to manage the company's systematic risk in the Firm Value equation.

It depends on how many market frictions exist.