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A comment on Why are US corporate profits so high? Because wages are so low. Parent comment
directors/officers of a corporation have a fiduciary duty to its stockholders. this is three-pronged: good faith, loyalty, due care.
there is no such 'maximize profits' mandate in common law. See business judgment rule and Directors' duties.
if these don't clarify things, please ask questions.
1: http://en.wikipedia.org/wiki/Business_judgment_rule
2: http://en.wikipedia.org/wiki/Directors%27_duties
..
edit: another poster (netcan) gave a great explanation in a sibling thread- https://news.ycombinator.com/item?id=7129582
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directors/officers of a corporation have a fiduciary duty to its stockholders. this is three-pronged: good faith, loyalty, due care.
there is no such 'maximize profits' mandate in common law. See business judgment rule and Directors' duties.
if these don't clarify things, please ask questions.
1: http://en.wikipedia.org/wiki/Business_judgment_rule
2: http://en.wikipedia.org/wiki/Directors%27_duties
..
edit: another poster (netcan) gave a great explanation in a sibling thread- https://news.ycombinator.com/item?id=7129582