That is a good point. The stock market is probably more competitive than whatever market the company is in, so, for every one moral investor, there are infinite more that are amoral.
Again, that is a good point, and I already had it in mind when I posted my reply. The person I was replying to did not articulate it correctly.
Still, I do not think the original question should be dismissed outright. The fact is that not even the stock market is perfectly competitive. There are not infinite players in either side. For instance, if you look at Islamic countries, you can find countries where close to 100% are religious https://en.wikipedia.org/wiki/Islam_by_country. I can imagine how a religious figure could possibly bankrupt a company by talking to banks alone and draining the company out of capital (without ever talking to customers). My point is that even in highly competitive markets maybe activists can have an influence. I find it very unlikely. I still think dismissing that question outright is anti-scientific.
Sure, if you could coordinate with almost all players in a market and got them to agree to give up financial gain to achieve your goals without any defecting then it would work. Though that’s a mighty big “if” in any large market.
That is a good point. The stock market is probably more competitive than whatever market the company is in, so, for every one moral investor, there are infinite more that are amoral.
Again, that is a good point, and I already had it in mind when I posted my reply. The person I was replying to did not articulate it correctly.
Still, I do not think the original question should be dismissed outright. The fact is that not even the stock market is perfectly competitive. There are not infinite players in either side. For instance, if you look at Islamic countries, you can find countries where close to 100% are religious https://en.wikipedia.org/wiki/Islam_by_country. I can imagine how a religious figure could possibly bankrupt a company by talking to banks alone and draining the company out of capital (without ever talking to customers). My point is that even in highly competitive markets maybe activists can have an influence. I find it very unlikely. I still think dismissing that question outright is anti-scientific.
Sure, if you could coordinate with almost all players in a market and got them to agree to give up financial gain to achieve your goals without any defecting then it would work. Though that’s a mighty big “if” in any large market.