Same experience as an employee really. Want to work for a healthy company? Join a private one. It is of course no guarantee and there are exceptions as well, but there certainly seems to be a trend.
IMO, Goodhart's Law[1] "Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes" or "When a measure becomes a target, it ceases to be a good measure" is a big part of it. As soon as stock price is the primary target it ceases to be a good measure of the actual value of the company, management will try to game the stock price at the expense of the underlying value.