Under corporate law, fiduciaries (such as directors or executives) have a duty to act in the best interest of a firm's shareholders. This usually takes the form of increasing share value or the payout of dividends (and implicit in this argument is that the best interest of shareholders is the improved return on their initial investment).
However, what if it is the will of shareholders for the firm to engage in activity that apparently goes against their interests? I imagine this is prevalent in group situations, where transfer pricing possibly allows the parent transferee to enjoy suppressed prices charged by its subsidiary transferor.
In general, my question is: does corporate law uphold shareholder will or interest?