Can anyone recommend any books that cover the phenomenon of parasitic executives who actually end up draining money from shareholders?
I saw this post and it got me thinking.
Big corporations have two purposes that are ostensibly at odds: make as much money for shareholders as quickly as possible, and reward already-wealthy parasites from the same social circles with “legitimate” income.
Ostensibly executives are paid ludicrous salaries to reward good performance and to incentivize the best of the best to head the companies. But the lie is put to this immediately by the rewarding of golden parachutes without ever turning a cent of profit.
Ostensibly, shareholders should be upset at their money rewarding poor performance, but that never changes.
Yet (as far as I know) in Japan, for example, when leadership leads to failure, they tend to behave (more) like leadership and assume responsibility or even step down.
What makes the difference?