Assume that you advising the managers of a publicly traded company in an emerging market with illiquid, poorly functioning financial markets but strong protections for lenders

Assume that you advising the managers of a publicly traded company in an emerging market with illiquid, poorly functioning financial markets but strong protections for lenders. Which of the following objectives would you suggest as the “central” objective for the company?
Select one:
a. Maximize book value of equity
b. Maximize the stock price
c. None of the above
d. Maximize stockholder wealth, even if that means accepting lower stock prices (because markets make mistakes)
e. Maximize revenue growth

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One of the arguments made for stronger corporate governance is that it will lead to better managed companies. Which of the following links between corporate governance and management quality do you think is closest to the truth?
Select one:
a. There is no relationship between corporate governance and how a firm is managed
b. Firms with better corporate governance are more likely to change managers when they are badly managed
c. Firms with better corporate governance are better managed than firms with weak corporate governance
d. Firms with better corporate governance are worse managed than firms with weak corporate governance
e. Firms with better corporate governance are less likely to change managers when they are badly managed