"The book provides the fundamental building blocks for agency theory and discusses a wide variety of topics, including the nature of man, the theory of the firm, specific and general knowledge, organizational structure, executive compensation, and performance measurement. These essays, which span the past 25 years, illustrate how Jensen's views have evolved and expanded over time...Jensen's integrated theory is a noble attempt to combine economic analysis of markets and behavioral organization theorists' understanding of the internal aspects of organizations."
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About the Author
Michael C. Jensen
is Jesse Isidor Straus Professor of Business Administration Emeritus, Harvard Business School.