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James_Miller comments on Call for information, examples, case studies and analysis: votes and shareholder resolutions v.s. divestment for social and environmental outcomes - Less Wrong Discussion
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Comments (33)
"If my college refuses to buy from a firm it hurts that firm a little, but if it refuses to buy stock in a firm it does that firm zero harm."
If a lot of people refrain from buying stocks from a given firm, don't they have to raise dividends or capital gains in order to attract capital? Those dividends or capital gains must be financed by cutting costs, raising prices or whatever. Either way, it does harm a firm when capital is not as cheap.
No because if hedge funds think the value of a stock is $20, they will buy whenever the price falls below $20.