Asymmetric information problems affect capital structure decisions largely due to which of the following:

Group of answer choices

Managers have no incentive to make capital structure decisions in a way that reduces the firm's tax liabilities.

Managers generally have an informational advantage over outside investors.

Managers incentives are not aligned properly with those of outside investors.

Investors have an informational advantage over managers because many of them are expert in estimating a firm's true value.