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The three-exposure hypothesis suggests that:
Stockholders
Investors who own shares of stock in a corporation, holding a claim on its assets and earnings.
Spin-off
The creation of an independent company through the sale or distribution of new shares of an existing part of a parent corporation.
Equity Carve-out
A strategy where a parent company sells a minority interest of a subsidiary to outside investors while retaining control.
Shareholders
Individuals or entities that own shares in a company, giving them partial ownership and possibly voting rights.
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