Ethical challenges in corporate-shareholder and investor relations: Using the Value Exchange Model to analyze and respond

Shareholder and investor relations, and the closely related area of corporate governance have been the arenas of much dispute, much of which has not been confined to practical financial matters. Ethical challenges have come as well from persons and groups with widely differing value systems. This paper presents the Corporate Value Exchange Model (CVE) as a framework for analyzing the corporate-shareholder and corporate-investor relationships, and for formulating decisions that can respond ethically to these groups without subordinating the interests of other constituents.Richard Lee Miller is Associate Professor of Management and Graduate Faculty at the University of Dayton. He has numerous articles published in journals and proceedings, the most recent of which have been on various applications of the value exchange theory.