I think the final point is where there is the most leverage- giving preference to long term ownership interests over short term interests. Time based voting preferences, longer minimum holding periods for manager stock grants, more tax differential on long and short term gains and similar policies have potential to create an environment which is not as focused on the daily stock price and the quarterly numbers. Having the company serve the purpose of its owners is not a bad thing, otherwise the concept of ownership is meaningless, but if the intention of some of those owners is to briefly increase its value or liquidate assets to increase short term returns at the expense of longer term returns, that seems worthy of disincentivizing.