"We consider a setting in which insiders have information about income that outside shareholders do not, but property … rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent … with outsiders' expectations based on publicly available information rather than true income, resulting in an observed …

and income chances of the two groups; income chances are measured in relative terms. Multipositionality was more frequent … among leaders of private than state-owned companies, and less typical among managers of foreign than Hungarian companies …. Multipositionals had two and a half, transnationals more than three times better income chances than the rest of the economic elite …

"Compensation, status, and press coverage of managers in the U.S. follow a highly skewed distribution: a small number …