Nope. The shareholder obsession can be traced back directly to the 70s/80s. It’s a memetic hiccup. A failed experiment. Immediately preceding that was managerial capitalism which explicitly included employees and local communities in their considerations.

Prior to that, most businesses were owned and operated by the same people. Talk to any founder — especially familial legacy businesses - and you know they don’t run it purely to maximize “shareholder” value. Partly because it’s exceptionally hard to do without destroying the real company — the thing behind the spreadsheets.