Bøger af Michael C. Jensen

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.

Presenting the foundations of an integrated theory of organizations, Jensen argues that the cost of transferring information necessitates decentralization of some decision rights in organizations and economies. This in turn requires organizations to solve the control problem that results when self-interested persons do not behave as perfect agents.

This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth.