The purpose of a corporation is to seek profits, not popularity
The purpose of a corporation is to seek profits, not popularity. But corporate managers are increasingly under immense socio-political pressure to take stances on controversial issues or commit corporate resources for symbolic effect. For example, so-called “investments” in ESG categories (an acronym standing for environmental, social justice or sustainability and governance issues), put a shine on corporate activity but often have little benefit to shareholders. And they often do not even help much the causes to which those diversions of firm capital are directed.
