Which of the following statements is true?

A. To maximize the value of the corporation as a whole, managers of each of their subsidiaries should make decisions to maximize the market value of their own respective subsidiaries first.
B. More efficient decisions can be made in an MNC by the managers of a foreign subsidiary than by the centralized management system as the manager of the foreign subsidiary has a better knowledge of the domestic environment.
C. A macroeconomic perspective focuses on the financial management decisions that affect the value of an MNC.
D. If a MNC based in the U.S. has diversified with a few subsidiaries in South America and does not expect to increase its investment in these subsidiaries, and if the value of the South American currency weakens over time, then the firm's value should increase.
E. In order to totally avoid exchange rate risk, MNCs acquire or establish subsidiaries in foreign countries. This helps them replace the exporting business.