Short term speculators have no direct influence on the management (other than through share price i.e. the money they promise to give to the long-term shareholders to sell their shares) because they don't hold the shares long enough to vote on the shareholder's meetings - the long- and mid-term shareholders can order the board on what the priority should be or replace the board if it's not aligned with these goals; and there's a class of activist investors who buy shares in order to do just that, to steer the company somewhere else - but in order to do that, you can't be a short-term speculator, you have to buy, vote and wait before selling.