last time I checked the lack of obligation is not the same as a lack of option. owning equity in a company is THE option and there IS an expectation that any sh

last time I checked the lack of obligation is not the same as a lack of option. owning equity in a company is THE option and there IS an expectation that any shareholder that is not disenfranchised by helpful intermediaries will be exercising it. everything the company does is under the control of shareholders. they have they option to fire the management and rewrite practically the entire rulebook of what the company does. now it should be pretty clear that a lot of shareholders (across the size spectrum) would not necessarily disagree with management choices that optimize short term financial returns but to assume that every shareholder has this moral stance is simply a falsehood and that is increasingly becoming clear.