A Theory of the Firm: Governance, Residual Claims, and Organizational Forms

by Michael C. Jensen

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This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's...

Format:Paperback

Language:English

ISBN:0674012291

ISBN13:9780674012295

Release Date:September 2003

Publisher:Harvard University Press

Length:323 Pages

Weight:0.90 lbs.

Dimensions:0.9" x 6.1" x 9.2"

Related Subjects

Business Business & Investing Economics Leadership Management & Leadership Popular Economics Theory

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A Theory of the Firm: Governance, Residual Claims, and Organizational Forms

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