The fact that these two things are different is the problem with corporate America. The morally correct thing is always the better thing for shareholders in the long-run, but corporations don't see it that way.
Both. I think that when corporations do exploitative things, they are being short-sighted, and will eventually suffer in the long run.
And really what I would advocate for is stricter regulations so we don't have to rely on the good will of corporations in general. Their track record is terrible.
The thing is this "long run" is a hypothetical for investors and their finite lifetimes and finite windows of return.
Companies aren't accountable to some infinitely long running algorithm or timeless dynasty of shareholders, they are accountable to living breathing greedy humans who want to make a buck NOW, not when they are dead or for their heirs.
