Which of the following is not an advantage of international acquisitions over the establishment of a new subsidiary?
a. The firm can immediately expand its international business.
b. An international acquisition typically generates quicker cash flows than the establishment of a new subsidiary.
c. International acquisitions are generally cheaper than the establishment of a new subsidiary.
d. An international acquisition typically generates larger cash flows than the establishment of a new subsidiary.
e. All of the above are advantages of international acquisitions.