But anyway in my case I didn't say it was their duty, I was talking basically about the psychology.
From this angle, it's about whether they think that shareholders will/might think they made a mistake, not about whether they actually made the best judgement for the company.
I have no doubt that at least some CEOs will absolutely choose to do something that they privately believe is not optimal for the company, when they think shareholders will see things differently.
The converse of this is seen when a politician does something out of principle that they know will get them in trouble with voters. We have plenty of evidence that that happens -- and that it's on the rare side.
But anyway in my case I didn't say it was their duty, I was talking basically about the psychology.
From this angle, it's about whether they think that shareholders will/might think they made a mistake, not about whether they actually made the best judgement for the company.
I have no doubt that at least some CEOs will absolutely choose to do something that they privately believe is not optimal for the company, when they think shareholders will see things differently.
The converse of this is seen when a politician does something out of principle that they know will get them in trouble with voters. We have plenty of evidence that that happens -- and that it's on the rare side.