A theory that has been generated by the same people who benefit from it. And how well has it been working out? It would seem that the more they get as a bonus, the shorter they can afford their term to be, so the more extreme the damage they can do. They'd still get good people with a salary and no bonus, but they wouldn't get the parasites.
And if you must pay bonuses, then cash only, never shares (which simply makes "buy backs" popular), and payment 10 years down the road, when we can clearly see whether they damaged or built. My bet is that you'd never have to pay a bonus at all, as not many seem capable of building.
