If returns were in terms of dividends, with owners actually sharing in profits, rather than more easily manipulated and leverage level dependent capital gains,

If returns were in terms of dividends, with owners actually sharing in profits, rather than more easily manipulated and leverage level dependent capital gains, the problem would solve itself. Make dividends tax deductible for companies (effectively treat them as big LLCs), eliminate the capital gains tax advantage, and watch sanity return to c-suite comp.