Our readings continually state that these rules apply for publicly-owned organizations. But I want to know about private ones. If a privately owned company is not following through with fiduciary duties or not following corporate governance, what happens to its investors? Is there any form of recourse for those investors when the top-level is not following good policies and is intentionally taking actions that harm the investor's investments?
Obviously, this is an ethical issue for the private company, but, as another Ethics Blogger pointed out, ethics are sometimes only as good as the person making the decision.
There should (and perhaps there are) be controls in place for private corporations as well. Perhaps I just have yet to learn of them.
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