This hypothesis is testable in the market, and there are any number of investors—including private equity firms and activist investors—on the lookout for feathe

This hypothesis is testable in the market, and there are any number of investors—including private equity firms and activist investors—on the lookout for feathered-nest C-suites and other misaligned executive incentives. There was a great little aside a couple months ago on the Odd Lots podcast[1] about investors forcing a radical change in oil company executive incentive compensation that had been draining shareholder value for decades. [1] https://overcast.fm/+5AWMJLBNw https://overcast.fm/+5AWMJLBNw