$4.$ When a financial manager $is$ deciding whether $to$ take the firm public $or$ keep $it$ private, which factor $is$ most critical?

Group $of$ answer choices

The opportunity $to$ raise substantial capital through public equity markets.

The current ownership structure and its influence $on$ corporate governance

The complexity $of$ adhering $to$ regulatory compliance for public companies

The desire $to$ maintain tight control over the firm's strategic decisions.

The anticipated effect $on$ the firm$s$ stock price post$-$IPO.