Prioritizing shareholders by corporate managers

Answer the following questions in 2 pages ( 550 words ), and to answer these questions I can only use the following sources.

1.Is it ethically acceptable for corporate managers to prioritize shareholders ‘ interests over those of other stakeholders?
In answering this question, explain Bower and Paine’s criticisms of the ”agency model” and the ”company-centered” alternative they propose, and relate them to one or two business cases.

Sources :

  • Paul H. Dembinski, Ethics and Responsibility in Finance, New York: Routledge, 2017, ch. 5 [M] Philipp Bagus and David Howden, “Some Ethical Dilemmas of Modern Banking,” Business Ethics 22:3,2013, pp. 235-245 [M]
    Eugene Heath, “Fairness in Financial Markets,” in J.R. Boatright (ed.), Financial Ethics, New Jersey:Wiley, 2010, pp. 163-178, esp. pp. 166-167 and 172-177 [M]
    Seumas Miller, “Financial Markets and Institutional Purposes: The Normative Issues,” in L. Herzog(ed.), Just Financial Markets?, Oxford: Oxford University Press, 2017, pp. 78-102, extracts, pp.78-79 and 92-99 [M]

Sample Solution