Larry Summers says:
Whatever you think of Henry Kravis, it is not plausible to regard him as an inattentive, exploited shareholder whose managers are using their networking skills and board connections to skim off massive rents. And yet the people in the public CEO community appear to want to move to the private equity CEO community more than the reverse.
If true, this poses a substantial analytical problem for the otherwise-attractive Lucien Bebchuk inattentive-shareholder explanation of the CEO pay explosion.
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