Final answer:
The main role of stockholders in a corporate hierarchy is to vote on major decisions by electing a board of directors and to receive dividends. Stockholders do not manage day-to-day operations but influence the company through their voting rights, proportional to the amount of stock they own.
Step-by-step explanation:
The role of owners (stockholders) in the corporate hierarchy is multifaceted. Primarily, they are responsible for voting on major corporate decisions, which typically occurs through the election of a board of directors. The board represents the shareholders' interests and is responsible for overseeing the company's management, which includes hiring top executives to handle day-to-day operations. Shareholders with a larger number of shares have more influence as they hold more votes. Additionally, stockholders are entitled to receive dividends, which are a share of the company's profits, if the company decides to distribute them.It is important to note that while shareholders do technically own the company, the day-to-day control is delegated to the board and the executives. In practice, not all shareholders will serve on the board of directors as it is composed of a select group of individuals voted in by the shareholders. As for the company's assets, the stockholders’ ownership is reflected in the value of their shares, not direct ownership of the company's physical assets.