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- Faculty Publications (89)
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- All HBS Web (137)
- Faculty Publications (89)
- 01 Feb 1999
- News
Too Much of a Good Thing?
suggest to some that the impact of excess capacity as a factor in the world economy could increase in the coming decades. Michael C. Jensen, the Jesse Isidor Straus Professor of Business Administration, is a member of the Organizations...
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Garry Emmons
- 1984
- Chapter
Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure
By: Michael Jensen and William H. Meckling
Jensen, Michael, and William H. Meckling. "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure." In The Modern Theory of Corporate Finance, edited by Michael C. Jensen and Clifford H. Smith Jr.. McGraw-Hill, 1984. (Also in Economics of Corporation Law & Securities Regulation, Posner & Scott, Eds, (Little Brown,1980); Jensen, Foundations of Organizational Strategy, (HUP, 1998); & Theory of the Firm. . . (HUP, 2000) and JFE.)
- 2010
- Working Paper
Integrity: A Positive Model That Incorporates the Normative Phenomena of Morality, Ethics, and Legality Abridged
By: Werner H. Erhard, Michael C. Jensen and Steve Zaffron
We present a positive model of integrity that, as we distinguish and define integrity, provides powerful access to increased performance for individuals, groups, organizations, and societies. Our model reveals the causal link between integrity and increased...
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Keywords:
Trust;
Performance Productivity;
Information Technology;
Knowledge;
Moral Sensibility;
Opportunities;
Competitive Advantage;
Legal Liability;
Cost vs Benefits
Erhard, Werner H., Michael C. Jensen, and Steve Zaffron. "Integrity: A Positive Model That Incorporates the Normative Phenomena of Morality, Ethics, and Legality Abridged." Harvard Business School Working Paper, No. 10-061, February 2010.
- 21 Feb 2005
- Op-Ed
Is Business Management a Profession?
such as Michael Jensen and Oliver Williamson began, in the 1970s, to develop a new theory of the firm that treated it not as a "black box" that converted inputs into outputs but rather as an...
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- Web
Entrepreneurial Management Awards & Honors - Faculty & Research
Cohen: Recipient of a 2020 Top Cited Article Award from Wiley Publishing for Lazy Prices (Journal of Finance, June 2020) with Christopher Malloy and Quoc Nguyen. Paul A. Gompers: Winner of the 2020 Journal of Financial Economics First Place View Details
- 01 Oct 2000
- News
Rationale for Non-Rationality: Why We Make Bad Choices
The same neurochemicals that made our prehistoric ancestors flee the saber-toothed tiger now percolate in our brains when we bristle at a spouse's criticism or negative comments in a board meeting, according to research by HBS professor emeritus View Details
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Laura Singleton (MBA '88)
- 01 Dec 1998
- News
New Releases
Foundations of Organizational Strategy by Michael C. Jensen (Harvard University Press) Economists have historically concentrated on analyzing markets while glossing over the complexities of organizations...
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- 01 Sep 2011
- News
Capitalism’s False Mantra
Related Links Martin discussing his book One of the most influential papers defining the role of business, “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” was coauthored in 1976 by Michael Jensen, the...
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- 1988
- Comment
Characteristics of Hostile and Friendly Takeover Targets
By: Michael Jensen
Keywords:
Acquisition
- 1980
- Chapter
Tests of Capital Market Theory and Implications of the Evidence
By: Michael Jensen
Jensen, Michael. "Tests of Capital Market Theory and Implications of the Evidence." In Handbook of Financial Economics, edited by J. L. Bicksler. North-Holland Publishing Company, 1980. (Originally published in Is Financial Analysis Useless? Proceedings of a Seminar on the Efficient Market and Random Walk Hypotheses (The Financial Analysts Research Foundation, 1975).)
- 2000
- Chapter
Value Maximization and the Corporate Objective Function
By: Michael Jensen
Keywords:
Value Creation
Jensen, Michael. "Value Maximization and the Corporate Objective Function." In Breaking the Code of Change, edited by Michael Beer and Nitin Nohria. Boston: Harvard Business School Press, 2000. (Forthcoming in Management Revolution: The Legacy of the Market for Corporate Control, Harvard University Press. Reprinted in Business Ethics Quarterly, v 12, No 1, 2001, & European Financial Management, v.7, no.3, September 2001.)
- 01 Dec 1996
- News
Organizations and Markets: A Challenging View of the World
The following article is the seventh in a series on the activities and research taking place in each academic unit at HBS. Professor Michael C. Jensen has a simple explanation for why people sometimes don't...
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Susan Young
- 01 Oct 2000
- News
Faculty Retirements
focused on operational competitiveness, technological development, and the integration of design with manufacturing. Hayes received his BA from Wesleyan University (1958) before earning an MS (1962) in statistics and a Ph.D. (1966) in operations research, both from...
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- 01 Dec 2007
- News
How Business Schools Lost Their Way
corporation that came with the emergence of investor capitalism in the 1970s. It is difficult to pinpoint exactly when the debate about the sources of America’s economic malaise, and what could be done about it, began to penetrate mainstream business schools, but HBS...
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- 04 Oct 2007
- What Do You Think?
Has Managerial Capitalism Peaked?
investment vehicles. What's the reason for these phenomena? According to one report, Michael Jensen and Kevin Murphy, in a book to be published in the next several months, CEO Pay and What to Do About It,...
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by Jim Heskett
- 1994
- Chapter
Takeovers: Their Causes and Consequences
By: Michael C. Jensen
Keywords:
Acquisition
Jensen, Michael C. "Takeovers: Their Causes and Consequences." In Readings in Mergers and Acquisitions, edited by P. A. Gaughan. Cambridge, MA: Basil Blackwell, 1994. (Also published in Journal of Economic Perspectives, Vol. 2, No. 1 (winter 1988); an abridged version forthcoming in Management Revolution: The Legacy of the Market for Corporate Control, (Harvard University Press))
- 1972
- Chapter
The Foundation and Current State of Capital Market Theory
By: Michael C. Jensen
Jensen, Michael C. "The Foundation and Current State of Capital Market Theory." In Studies in the Theory of Capital Markets, edited by M. C. Jensen. New York: Praeger, 1972.
- 1979
- Chapter
Toward a Theory of the Press
By: Michael C. Jensen
Jensen, Michael C. "Toward a Theory of the Press." In Economics and Social Institutions, edited by Karl Brunner. Martinus Nijhoff Publishers, 1979.
- 1972
- Chapter
Optimal Utilization of Market Forecasts and the Evaluation of Portfolio Performance
By: Michael Jensen
Keywords:
Investment Portfolio;
Financial Markets;
Forecasting and Prediction;
Performance Evaluation
Jensen, Michael. "Optimal Utilization of Market Forecasts and the Evaluation of Portfolio Performance." In Mathematical Methods in Finance, edited by G. P. Szego and Karl Shell. North-Holland Publishing Company, 1972.