Publications

summer 1994
Article

Self-interest, Altruism, Incentives, and Agency Theory

By: Michael C. Jensen

Keywords: Theory

November 1989 (Revised December 1996)
Supplement

Wisconsin Central Ltd. Railroad and Berkshire Partners (B): LBO Associations and Corporate Governance

By: Michael C. Jensen

Describes the resolution of the default situation. Further examines the internal control mechanisms and distinct role of the board of directors of a typical LBO association. View Details

Keywords: Corporate Governance; Leveraged Buyouts; Rail Industry

09 Jun 2008
News

Now s Get Their Star Rankings, Too

01 Jun 1997
News

Blockbuster Deals

Michael Jensen, a finance expert, how what is happening today compares to what transpired in the 1980s. A decade ago, Jensen explains, M&As; were often associated with downsizing and what he describes as... View Details

Keywords: Garry Emmons and Nancy O. Perry

01 Dec 1996
News

Faculty Symposium Honors McArthur

Management Professor Robert H. Hayes and Associate Professor Marco Iansiti Global Financial Systems Professor Robert C. Merton and Associate Professor Peter Tufano Organizations and Markets Professors George P. Baker III, Carliss Y. Baldwin, and View Details

Keywords: Daniel Penrice

1978
Chapter

Conflict Between the Political and Private Sectors

By: Michael Jensen and William H. Meckling

Keywords: Public Sector; Private Sector; Conflict and Resolution

December 1998
Supplement

Gordon Cain

By: Michael C. Jensen and Brian Barry

December 1990 (Revised February 2000)
Supplement

Wisconsin Central Ltd. Railroad and Berkshire Partners, Video

By: Michael C. Jensen and Brian Barry

Edward Burkhardt, president and CEO of Wisconsin Central, and Carl Freebback, general partner of Berkshire Partners, engage in a question and answer session with the students. View Details

Keywords: Financial Management; Governing and Advisory Boards; Leveraged Buyouts; Financial Condition; Financing and Loans; Corporate Finance; Rail Industry

01 Apr 1999
News

New Releases

at Soldiers Field.” The chapter on Organizations and Markets (O&M) opens with an example of McArthur's ability to find innovative solutions to knotty problems. In the mid-1980s, the Dean was able to lure O&M expert Michael C. Jensen, then... View Details

Keywords: Susan Young

30 May 2013
News

Who Should Actually Have Say on Pay?

2010
Working Paper

A New Model of Leadership (PDF File of Keynote Slides)

By: Michael C. Jensen and Allan L. Scherr

In this paper we provide a new definition of leadership that gives organizations and individuals access to new power, performance and accomplishment. In our model leadership consists of four critical elements The creation of a vision for the future that represents a... View Details

Keywords: Forecasting and Prediction; Knowledge Dissemination; Leadership; Goals and Objectives; System

November 1994
Article

Science, Specific Knowledge, and Total Quality Management

By: Karen H. Wruck and Michael C. Jensen

Keywords: Science; Knowledge; Quality; Management

April 1990
Article

Performance Pay and Top Management Incentives

By: Michael C. Jensen and Kevin J. Murphy

Keywords: Management; Motivation and Incentives; Performance; Jobs and Positions

September 1998 (Revised September 1998)
Teaching Note

Wisconsin Central Ltd. Railroad and Berkshire Partners Series TN

By: Michael C. Jensen and Brian Barry

Teaching Note for (9-190-062), (9-190-070), and (9-891-509). View Details

Keywords: Rail Industry

2002
Other Unpublished Work

What's a Director to Do?

By: Michael C. Jensen and Joseph Fuller

Keywords: Decision Making

2010
Working Paper

A 'Value-Free' Approach to Values (PDF File of PowerPoint Slides)

By: Michael C. Jensen and Werner Erhard

We argue here that the three factors we identify as constituting the foundation for being a leader and the effective exercise of leadership can also be seen as "A 'Value-Free' Approach to Values" that proves to be very effective in allowing students to acquire the... View Details

Keywords: Leadership Development; Attitudes; Values and Beliefs

1983
Chapter

Corporate Governance and 'Economic Democracy': An Attack on Freedom

By: Michael Jensen and William H. Meckling

Keywords: Corporate Governance

2010
Working Paper

Just Say No to Wall Street: Putting A Stop to the Earnings Game

By: Joseph Fuller and Michael C. Jensen

Putting an end to the "earnings game" requires that CEOs reclaim the initiative by avoiding earnings guidance and managing expectations in such a way that their stocks trade reasonably close to their intrinsic value. In place of earnings forecasts, management should... View Details

Keywords: Stocks; Performance Expectations; Goals and Objectives; Risk and Uncertainty; Growth and Development Strategy; Decisions; Risk Management; Budgets and Budgeting; Earnings Management; Value; Projects

2010
Working Paper

Beyond Agency Theory: The Hidden and Heretofore Inaccessible Power of Integrity (PDF file of Keynote Slides)

By: Michael C. Jensen and Werner Erhard

There is far too much concern today about the conflicts of interest between people; for example, conflicts of interest between agents and owners—historically a favorite topic of Jensen—and not enough attention paid to the damage caused by an individual's conflict of... View Details

Keywords: Moral Sensibility; Lawfulness; Production; Organizations; Performance Improvement; Agency Theory; Conflict of Interests; Trust; Competitive Advantage; Value Creation