Question $9(10$ points$)$

Which of the following statements is true?

a$)$ Having large amounts of cash could exacerbate agency problems between management and shareholders leading to opportunistic managerial behavior.

b$)$ Having large amounts of cash allows a firm to be more aggressive against competitors because it affected by information asymmetry.

c$)$ Having large amounts of cash can allow a leveraged firm to be more far$-$sighted in its investments because it does not have to worry about debt overhang.