LECTURE NOTES: INTERESTS OF SHAREHOLDERS AND BUSINESS ETHICS I. Introduction • Discussion of minority shareholders' interests and their focus on short-term gains. • Emphasis on the importance of balancing dividends and capitalizing profits. II. Business Ethics Principles for Majority Shareholders A. Balanced Dividend Policy • Acknowledging the financial interests of minorities. • Implementing a dividend policy that considers both short and long-term perspectives. B. Collaborative Motivation for Managers • Recognizing the interests of managers. • Developing motivation strategies with the board of directors to prevent misuse of power. C. Strengthening Board Professionalism • Advancing board professionalism and independence. • Optimally formulating and endorsing ethical standards through an empowered board. D. Supervision of Ethical Standards • Ensuring the board oversees the establishment of ethical guidelines. • Active involvement in setting ethical directions within the company. III. Business Ethics Principles for Minority Shareholders A. Responsible Exercise of Rights • Exercising shareholder rights responsibly to uphold company interests. • Avoiding actions that compromise the company's well-being. B. Confidentiality and Trade Secrets • Respecting the confidentiality of company information. • Refraining from disclosing proprietary trade secrets. C. Holding Major Players Accountable • Demanding ethical compliance from major shareholders, directors, and managers. • Upholding ethical standards through collective expectations. IV. Role of the Board of Directors • Highlighting the role of directors in reconciling shareholder and managerial interests. • Stressing the need for genuine independence and separation from stakeholders.

Interests Of Shareholders And Business Ethics

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