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this post was submitted on 26 Nov 2023
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Asklemmy
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How does the law require them to be greedy?
I just assumed that it was shareholders.
Maybe not an exact law to be greedy but aren't they legally responsible for acting in the interest of the shareholders not the consumer
Not technically a "law"...
"The shareholder wealth maximization doctrine requires public corporations to pursue a single purpose to the exclusion of all others: increase the wealth of shareholders by increasing the value of their shares. However, a company should be committed to enhance shareholder value and comply with all regulations and laws that govern shareholder's rights."
The" however... " part is largely ignored, except for when it benefits shareholders.
The "however" part you quoted explicitly mentions following the rights of shareholders. From what you described, there's literally nothing else in the doctrine to ignore.
Yeah, your right. I guess I got to the part where it said "comply with regulations and laws" and laughed through the rest.