Which of the following statements is FALSE? ADR is quoted and traded in USD on a U.S. securities market. If a firm's cash inflows come from sources all over the world, those cash inflows may be more stable because the firm's total sales will not be highly influenced by a single economy. Firms can create value for their shareholders by issuing securities in foreign as well as domestic markets when international financial markets are not fully integrated. An MNC's access to the international capital markets may allow it to obtain funds at a lower cost than that paid by domestic firms. A reduced cost of capital increases the firm's value not only through increased investments in new projects but also through revaluation of the cash flows from existing projects