ABSTRACT

The main internal stakeholders are shareholders, management, and employees. An important problem concerning the internal stakeholders, as already mentioned, is the relationship with owners, investors, and shareholders. Corporate governance and good corporate governance in boardrooms and on the executive board is a key area of financial ethics and of the relationship with shareholders of the company. One of the reasons of the increased focus on corporate governance is as mentioned the increasing number of "institutional investors" who have begun to affect the company's strategy and values, and through a higher degree of shareholder activism they wish to have a greater influence on the financial market. The employee and their office also take specific initiatives for development of ethics, codes of values-driven management, and ethical guidelines in the organization. The management decision is based on an acquired specialized ability to understand the complex relationship between personal and organizational integrity and to involve all the company's stakeholders in the ethical decision-making.