Final answer:
The statement is false as corporate directors are expected to maximize profits within ethical boundaries. They owe a fiduciary duty to shareholders but must also consider moral responsibilities to various stakeholders.
Step-by-step explanation:
The statement claiming that corporate directors have a duty to maximize corporate profits and shareholder value, even if this means skirting ethical rules, is false. While it is true that corporations have a fiduciary obligation to their shareholders to maximize profit, this does not include violating ethical rules. In fact, doing so can lead to damaging lawsuits and consequences for the corporation and its directors. Furthermore, the board of directors is supposed to ensure that the firm is run in the interests of the shareholders, but this does not excuse unethical practices. The top executives also have significant influence on who gets nominated to the board, often aligning with shareholder interests. However, the moral responsibilities of corporations extend beyond just shareholder profits to other stakeholders such as employees, customers, and the community at large.