I have repeatedly heard that corporate executives have a fiduciary duty to maximize the value returned to investors. I have also repeatedly heard exactly the opposite: that there is no requirement for executives to try to maximize the value returned to investors.
Do corporate executives have a fiduciary duty to maximize the value returned to investors?
Given that this could possibly vary by region, please specify the region to which your answer applies.
Inspired by this thread on on Physics Meta StackExchange:
and this claim on Meta StackExchange: