goes to paying top executives of the 1500 largest public companies. That's what a recent study by Bebchuk of Harvard and Grinstein of Cornell shows. From 2001 to 2003 the compensation of top executives amounted to 9.8% of the companies' net income; in the period 1993-1995 compensation was only 5% of net income. And the compensation number does not include retirement benefits.
Did the profit of these 1500 companies double between the same periods? I doubt it. Were these top executives well compensated in 1993-1995? You can bet on it.
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