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Shoppers say they want sustainable goods, but won't pay more
(www.reuters.com)
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this post was submitted on 09 Sep 2023
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That is a common myth:
https://legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value
https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits
Oof. That's fair. That explains Woke, Inc. and other critiques of wokism in the boardroom: because these initiatives are argued to be detracting from shareholder value by creating unnecessary inefficiencies.
So, okay, cool. Thanks for the update.
I'm not quite understanding your point, could you elaborate?
To be fair, while companies may not be legally obligated to maximise profit/shareholder value, CEO bonus structures often do incentivise doing exactly that. And perpetuating the myth does give boards an excuse to do whatever they want.