The relationship between the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy and rule of law is known as:
1. code of ethics.
2. corporate leadership.
3. corporate responsibility.
4. corporate governance.

(3) Corporate responsibility

Explanation:

The corporate responsibility is one of the type of business model in which the organization are responsible for maintaining all responsibility of the company including the social account of the company, stakeholder and the different types of employees and the public responsibility.

According to the given question, the relationship between management, shareholders and the company director are basically defined in the policy of an organization and this type of rules is known as the corporate responsibility.

Therefore, Option (3) is correct.

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