I'm not naive. Owners also don't pay wages out of sympathy for workers. When they give away wages, they give away profits directly. If anything, short-termist m

I'm not naive. Owners also don't pay wages out of sympathy for workers. When they give away wages, they give away profits directly. If anything, short-termist managers might prefer to give away rights to future profits, rather than profits today. Also, you're assuming that small shareholders exercise power via their voting rights - nope, most small shareholders don't vote, not surprisingly since small voting blocs would rarely change outcomes.