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The catering theory of corporate policies posits that: a. Managers choose policies to take advantage of security mispricing caused by irrational investor demand b. Managers

The catering theory of corporate policies posits that: a. Managers choose policies to take advantage of security mispricing caused by irrational investor demand b. Managers choose policies to satisfy rational investor demand c. Managers choose policies to improve corporate governance d. None of the above

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