Please state whether the following statements are true or false. Explain your answer; answering only true or false will result in zero marks even if the answer is correct. $(3$ marks

for each question, $36$ in total$)$

$1.$ Staggered boards in the US decrease the likelihood of management entrenchment.

$2.$ Assuming a debt beta equal to zero when valuing leverage buyouts $($LBOs$)$ would

give a wrong estimate of the assets$$ beta.

$3.$ On average, German companies are associated with concentrated ownership structure.

$4.$ Typically, family firms can only be acquired in a friendly merger.