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No.
Shareholders have direct control over matters that affect the company itself, such as share issues and the company's constitution. They also appoint the Directors who run the company.
In turn, the Directors appoint the managers. It is common for at least some of the Directors to be managers.
The Directors are responsible to the shareholders for the behavior of the managers.
Shareholders do not directly control the managerial behavior. They have the voting power on major issues that affects the company; however, they are not involved in day to day operations of the company.
Yes, shareholders control managerial behavior of a company. Shareholders are an owner of shares who has invested in the company. Shareholders select the Board of Director by voting and thus they control the directors who in turn hire the management team of a company. Board of Directors is responsible for the operation of the business starting from recruiting or setting up the managerial body for the organization.
