Yes, this is often wildly overstated. Executives and managers have a pretty broad leeway to run the company how they want, and while shareholders can in princip

Yes, this is often wildly overstated. Executives and managers have a pretty broad leeway to run the company how they want, and while shareholders can in principle replace them or sue them, it is pretty rare for them to be particularly activist, especially nowadays where large passive index funds make up so much of the market.