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rpmcruz 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)
I know. But that discussion is largely irrelevant. Shareholders do care about the price of the stocks and dividends.
That is like saying that in my coffee shop I do not care about whether my customers enjoy their coffee. I already sold them the coffee afterall.
The point is that if you don't care about your shareholders and shootcrap your company, your competitors will find it much easier to raise capital. The original question is whether there are enough "activists" that can change the route of a company by selling their stocks or buying from expensive stock options from their companies.
This is also like saying that in order to harm the coffee shop you will attack the customers. Attempts to punish the company by inflicting pain on the shareholders are unlikely to make you popular with those shareholders.
Citation needed. Can I see some empirical data where activists' efforts at divestment actually, in real life, led to the rise in the cost of capital for a company?