Call Boomerang Books 1300 36 33 32

Description - A Theory of the Firm by Michael C. Jensen

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 A Theory of the Firm by Michael C. Jensen from Australia's Online Independent 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 - A Theory of the Firm by Michael C. Jensen

Book Reviews - A Theory of the Firm by Michael C. Jensen

» 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 Boomerang Books Account Holder - it's free to sign up and there are great benefits!)

Write Review

Author Biography - Michael C. Jensen

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

Books By Michael C. Jensen

CEO Pay And What to Do About It by Michael C. Jensen
Hardback, March 2008
Moral Markets by Michael C. Jensen
Paperback, January 2008
Foundations of Organizational Strategy by Michael C. Jensen
Paperback, March 2001