While that makes logical sense, the practical value of stock -- even stock that doesn't pay dividends -- for the average investor is rarely dependent on voting

While that makes logical sense, the practical value of stock -- even stock that doesn't pay dividends -- for the average investor is rarely dependent on voting power. How many small investors actually leverage voting rights? The value is almost always predicated on the expectation that the company will do well and someone else will be willing to buy it off of you for more than you paid, despite having no intrinsic up side to the owner. (TIL the Greater Fool theory -- and while it seems like a bad bet, there are LOTS of stocks on the market that work exactly that way.)