We learned that the main goal of financial management is to maximize stockholder wealth. Do you agree with this statement? What are the pros and cons of focusing on stockholders instead of stakeholders? Which one do you think is more sustainable in the long-run? or during and after the Covid-19 pandemic?

In addition, further discuss different mechanisms (managerial compensation, board of directors and market control) that corporations can use to curb agency problems. Which mechanism do you think is most effective in curbing agency problems?