This thread has some discussion and case references regarding what companies are "obligated" to do for shareholders. https://news.ycombinator.com/item?id=233936

This thread has some discussion and case references regarding what companies are "obligated" to do for shareholders. https://news.ycombinator.com/item?id=23393674 https://news.ycombinator.com/item?id=23393674 It's not much, and there's certainly room for considering ethics. In fact, you can do nearly anything that isn't actively repurposing part of the business for the directors' own use. For example, one of the landmark cases affirmed the Chicago Cubs' right to leave tons of money on the table because their president believed that baseball was a "day-time sport" and wouldn't install lights for night games.