Theory of the Firm by Michael C. Jensen
Look inside with Google Book Preview
Theory of the Firm
By Michael C. Jensen

A Theory of the Firm

Governance, Residual Claims and Organizational Forms

By (author) See other recent books by Michael C. Jensen
Format: Paperback

Normal Price: $56.95
Your Price: $51.26 AUD, inc. GST
Shipping: $7.95 per order
You Save: $5.70! (10% off normal price)
Plus...earn $2.56 in Boomerang Bucks
Availability: Available Available to Backorder, No Due Date for Supply



Theory of the Firm by Michael C. Jensen

Book Description

In practice, shareholders delegate their control rights to a board of directors, who hire, fire and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded USD1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.

Buy Theory of the Firm book by Michael C. Jensen from Australia's Online Bookstore, Boomerang Books.


Book Details

ISBN: 9780674012295
ISBN-10: 0674012291
Format: Paperback
(235mm x 155mm x 19mm)
Pages: 323
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 2-Sep-2003
Country of Publication: United States

Other Editions...


Books By Author Michael C. Jensen

CEO Pay and What to Do About It by Michael C. Jensen CEO Pay and What to Do About It, Hardback (March 2008)

Proposes that pay packages can be too high and too risk-free, causing otherwise highly talented managers to act in ways that destroy corporate value. This book identifies the critical missing link in incentive plans, link between a manager's effectiveness in executing strategy and the capital market's valuation of the results.

Moral Markets by Michael C. Jensen Moral Markets, Paperback (January 2008)

Argues that market exchange works only because most people, most of the time, act virtuously. This book shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. It examines the biological basis of economic morality and traces the connections between morality and markets.

Foundations of Organizational Strategy by Michael C. Jensen Foundations of Organizational Strategy, Paperback (July 2001)

In this volume, Michael Jensen and his collaborators present the foundations of an integrated theory of organizations. The theory assumes for one that organizations are equilibrium systems that, like markets, can be influenced but cannot be told what to do.

» View all books by Michael C. Jensen

Reviews

» Have you read this book? We'd like to know what you think about it - write a review about Theory of the Firm book by Michael C. Jensen and you'll earn 50c in Boomerang Bucks loyalty dollars (you must be a member - it's free to sign up!)

Write a book review


Author Biography - Michael C. Jensen

Michael C. Jensen is Jesse Isidor Straus Professor of Business Administration Emeritus, Harvard Business School.

Boomerang Bucks close

For every $20 you spend on books, you will receive $1 in Boomerang Bucks loyalty dollars. You can use your Boomerang Bucks as a credit towards a future purchase from Boomerang Books. Note that you must be a Member (free to sign up) and that conditions do apply.

Recent books by Michael C. Jensen close
CEO Pay and What to Do About It by Michael C. Jensen
Moral Markets by Michael C. Jensen
Foundations of Organizational Strategy by Michael C. Jensen
»
BoomerangBooks.com.au close