This paper studies the exponential stabilization problem for discrete-time switched linear systems based on a control-Lyapunov function approach. A number of versions of converse control-Lyapunov function theorems are proved and their connections to the switched LQR problem are derived. It is shown that the system is exponentially stabilizable if and only if there exists a finite integer N such that the N-horizon value function of the switched LQR problem is a control-Lyapunov function. An efficient algorithm is also proposed which is guaranteed to yield a control-Lyapunov function and a stabilizing strategy whenever the system is exponentially stabilizable.