Why would shareholders approve and disapprove of reinvesting profits?

Shareholders may dislike the business to reinvest profits as their dividend payments will be reduced causing shareholders to become unhappy, which means that shareholders may sell their shares because of this. However, shareholders may approve of a business reinvesting it's profits because in the long term it will help a business grow and improve a businesses performance on a day to day basis. This means that in the long term dividend payments will potentially be improved.

Shareholders would aprove because they may beleive that the more money invested now will bring greater profits in the future and therefore more dividends. they would dissaprove because in the short run it means less dividend