The board represents the shareholders, the management represents the company.
The board absolutely has to care about shareholders or shares would be entirely worthless... and therefore not a good avenue to finance the company at a lower cost than bonds.
It's a delicate balance but you cant blame a board for saving their shareholders, that's why we pay them as owners of the business.
The board absolutely has to care about shareholders or shares would be entirely worthless... and therefore not a good avenue to finance the company at a lower cost than bonds.
It's a delicate balance but you cant blame a board for saving their shareholders, that's why we pay them as owners of the business.