[ampear]

> Is the goal to maximize profits this quarter, or shareholder value (share price) this quarter, or over the course of a decade, or a century, or a millennium? Merely changing the answer over those four options would entail massive changes in management goals and choices.

This is the absolutely crucial core question that gets skipped over so, so often.

[mytailorisrich]

This is a question that is answered in company board meetings when shareholders actually tell directors what they want. This is not a philosophical question to be pondered on in a vacuum.

[ampear]

Agreed there isn't a single answer to be reached in a vacuum, and obviously this is the mechanism by which majority shareholder intention may be communicated. The statement stands.