Michael C. Jensen
Jesse Isidor Straus Professor of Business Administration

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Last update: May 2006


Papers and Speeches Presented (1986-present)

"Putting Integrity Into Finance Theory and Practice: A Positive Approach,"

Meetings of the American Finance Association, American Finance Association, Boston, MA, January 6, 2006

Centre for Corporate Governance, London School of Business, London, England, January 19, 2006

Center for Corporate Governance, Le Bow College of Business, Drexel University, March 1, 2006

Journal of Corporate Finance Conference on Private Equity, LBOs, and Corporate Governance, Rensselaer Polytechnic Institute, Troy, NY, April 21, 2006

CFO Forum, University of Washington Business School, Seattle, WA, May 17, 2006

Download a copy of Putting Integrity Into Finance Theory and Practice: A Positive Approach readable with Adobe Acrobat Reader.

"What Rochester Means to Me," Inaugural Dinner in Celebration of University of Rochester's New President, Joel Seligman, University of Rochester, Rochester, NY, October 23, 2005

"Management and the Capital Markets: Issues in Managing the Tensions Between Two Cultures,"

Conference in Honor of Joel Seligman: The New Corporate Governance Conference, Keynote Speech, Washington University School of Law, St. Louis, Missouri, September 30, 2005

Kalmbach Lecture, Simon Business School, University of Rochester, Rochester, NY, May 11, 2005

Morgan Stanley's CEO Summit in Venice, Morgan Stanley, Milan, Italy, May 7, 200

4th Annual CORI Lecture, Contracting and Organizations Research Institute, University of Missouri-Columbia, April 14, 2005

Stockholm Institute of Transition Economics (SITE), Stockholm School of Economics, Stockholm, Sweden, April 5, 2005

6th Annual Maryland Finance Symposium, Keynote Speech, Robert H. Smith School of Business, University of Maryland, College Park, Maryland, March 31, 2005

Center for Economic Research (CentER), University of Tilburg, Amsterdam, The Netherlands, September 29, 2004

Download a copy of Management and the Capital Markets: Issues in Managing the Tensions Between Two Cultures readable with Adobe Acrobat Reader.

"The Puzzling State of Low-Integrity Relations Between Managers and Capital Markets,"

The Causes And Consequences Of Recent Financial Market Bubbles, Keynote Speech, The Review of Financial Studies and The Finance Department of the Kelley School of Business, Indiana University, Bloomington, IN, August 12, 2005

Conference in Honor of Hans Stoll's Contributions to Finance, Vanderbilt University, Nashville, Tennessee, May 20, 2005

Download a copy of The Puzzling State of Low-Integrity Relations Between Managers and Capital Markets readable with Adobe Acrobat Reader.

"CEO Pay. . . and how to fix it," NBER Summer Institute 2005, Corporate Governance Project Workshop, National Bureau of Economics Research (NBER), Cambridge, MA, July 29, 2005

"The Agency Cost of Overvalued Equity and the Current State of Corporate Finance," Acceptance of the European Financial Management 2004 Readers Choice Best Paper Award (by vote of the readership of the EFM Journal) at the EFMA 2005 Conference, European Financial Management Association, Bocconi University Milan, Italy, July 1, 2005

Download a copy of The Agency Cost of Overvalued Equity and the Current State of Corporate Finance readable with Adobe Acrobat Reader.

"Leadership," Commencement Address and Acceptance of Doctor of Laws, honoris causa degree, Convocation Ceremony, Governing Council of the University of Toronto, Toronto, Canada, June 15, 2005

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"Agency Costs of Overvalued Equity,"

Corporate Governance in the Information, Communications, & Technology Sector, Columbia Institute of Tele-Information (CITI), Graduate School of Business, Columbia University and The Association of the Bar of The City of New York, Telecommunications Law Committee, New York, NY, June 10, 2005

Financial Market Competition and Integration, 2004 NTU International Conference on Finance, National Taiwan University, Taipei, Taiwan, December 20, 2004

Corporate Finance Program, National Bureau of Economic Research (NBER), Cambridge, MA, November 19, 2004

LSE/NYU Governance Program, Keynote address, London School of Economics & New York University, London, England, November 4, 2004

"Agency Costs of Overvalued Equity," SEC, Seminar, September 10, 2003

Download a copy of Agency Costs of Overvalued Equity readable with Adobe Acrobat Reader.

"CEO Pay and What To Do About It," SNS Corporate Governance Network Seminar, Center for Business and Policy Studies (SNS), Stockholm, Sweden, April 6, 2005

"Remuneration: Where We've Been, How We Got to Here, What are the Problems, and How to Fix Them,"

Harvard Law Seminar, Program on Corporate Governance, Harvard Law School/Harvard College Economics Department, Cambridge, MA, March 21, 2005

Ethical Finance Research Conference on Managerial Compensation, Keynote address, Center for Corporate Responsibility and Sustainability (CCRS) and the Swiss Banking Institute Zurich, Switzerland, November 2, 2004

Download a copy of Remuneration: Where We've Been, How We Got to Here, What are the Problems, and How to Fix Them readable with Adobe Acrobat Reader.

Financial Management Association, New Orleans, LA, Keynote Speech, October 6, 2004

Issues and Puzzles in Performance Management, Association of Economics Students (EFACT) of the University of Tilburg, Tilberg, Amsterdam, The Netherlands, Keynote Speech, September 30, 2004

Download a copy of Issues and Puzzles in Performance Management readable with Adobe Acrobat Reader.

 Value Maximization and the Agency Costs of Overvalued Equity, Amsterdam Center for Corporate Finance, Universiteit van Amsterdam, Amsterdam, The Netherlands, Keynote Speech, September 28, 2004

Efficient Markets, Fortune Aspen Forum, BRAINSTORM 2004, July 14-16, in Aspen, Colorado, July 14, 2004

Western Finance Association, WFA annual meetings, Vancouver, B.C., Canada, Lecture, June 25, 2004

Misuses of Power in Corporations, Center for Public Leadership and the Hauser Center for Nonprofit Organizations, Cambridge, MA, Panelist, March 12, 2004

Governance, Federal Reserve Bank of Chicago, Chicago, IL, Presentation, October 31, 2003

The Batten Institute, Darden Graduate School of Business Administration, University of Virginia, Charlottesville, VA, Speech, May 29, 2003

Legal Issues in Production, Dissemination and Use, National Academies' "Symposium on Electronic Scientific, Technical, and Medical Journal Publishing and its Implications," National Academy of Sciences, Washington, DC, Keynote presentation, May 19, 2003

Ninth International Finance Conference (sponsored by Fortis), Georgia Tech, Atlanta, GA, Keynote speech, April 11, 2003

Shareholder Value vs. Non-Shareholder Obligations, New York Universitys Center of Law and Business, New York, NY, Panelist, February18, 2003

The Capital Market Group Foundation, Stockholm, Sweden, Keynote speech, February 3, 2003

Beyond Budgeting Round Table (BBRT), New York, NY, Participant, September 25-27, 2002

European Financial Management Association's Annual Meetings, Keynote speech, June 28, 2002

International Association for Conflict Management, Salt Lake City, UT Budget paper, Presentation, June 11, 2002

Should the European Union adopt the Winter Group's Proposals on Reforming Corporate Takeover Regulation in Europe?, European Corporate Governance Institute (ECGI), Panelist, May 31, 2002

Congressional Leaders as Negotiators: Understanding Extremism, by David C. King and Richard J. Zeckhauser, Hauser Center Leadership Conference, Center for Business and Government, Kennedy School of Government, Discussant, March 15, 2002

Simon Business School, University of Rochester, Rochester, NY, Commencement Speech, June 10, 2001

Western Economics Association Meeting, General Session on "Theories of Firms and Markets," San Diego, CA, Panelist, July 7, 1999

Meckling Memorial Lecture, The European Financial Management Association (EFMA) Eighth annual meeting in Paris (France), Keynote Speaker, June 25, 1999

"Weak Governance and the Emotional Brain: Lessons from Modern Neuroscience, The European Financial Management Association (EFMA) Eighth annual meeting in Paris (France), Ph.D. Student Seminar Presentation, June 24, 1999

Creating an Environment for Growth, XII International Conference of Private Business Associations, Stockholm, Sweden, Speech, June 11, 1998

"Weak Governance and the Emotional Brain," Institute of Finance and Accounting, London Business School, London, England, Presentation at Donors Seminar, June 4, 1998

American Economic Association Meeting, Panelist, January 2, 1998

"Topics in compensation policy," Accounting & Finance Workshop, Ernst & Young Center for Auditing Research & Advanced Technology, Kansas School of Business, University of Kansas, KS, Accounting/Finance Workshop, November 14, 1997

Organizational Economics Seminar, "Non Rational Behavior, Agency Costs and Organizations," Kansas School of Business, University of Kansas, KS, Lecture, November 13, 1997

8th Annual Conf. on Financial Economics and Accounting, Buffalo, NY, Keynote Speech, November 8, 1997

"Leadership," Commencement of the Marshall School of Business, University of Southern California, Los Angeles, CA, May 9, 1997

Download a copy of Leadership readable with Adobe Acrobat Reader.

"New Trends in Corporate Governance," CSC Index, Pebble Beach, CA, Speech, February 26, 1997

"Human Behavior and Organization Theory," Stockholm School of Economics, Stockholm, Sweden, May 20, 1996

"Corporate Governance: Current Issues and New Challenges," Holger Crafoords Symposium, University of Lund, Lund Sweden, May 13, 1996

"Owners, Managers, and Free Cash Flow: The American Experience," AB Assesores Corporate Governance Seminar, Madrid, Spain, May 7, 1996

"The Third Industrial Revolution: Changing the Competitive Environment," and "Resolving the Control Problem: The Challenge to Top Management and Governance," CSC Index Senior Management Interchange, New Models of Corporate Governance, Boston, April 17-18, 1996

"The Brain, Human Behavior, and Organizations,"

Harvard Medical School, Seminar on Pain: "Exploring Issues from Sensory Receptors to Societal Concerns," April 2, 1996

Board of Directors of the Associates, Harvard Business School, Boston, March 29, 1996

Mind, Brain, Behavior Initiative, Harvard University, March 5, 1996

"The Brain Thing," and "Management Implications of "The Brain Thing,'" The EVA Institute, Senior Management Seminar, Palm Springs, CA, February 19-20, 1996

"The Changing Role of the CEO," Fortune 500 CEO Forum, San Francisco, CA, November, 1995

"Compensation and Self Control," Conference on Executive Compensation, Yale Finance Institute, Woodstock, Vermont, October, 1995

"Transforming Work and Organizations for the 21st Century," Symposium, Academy of Management, Vancouver, BC, August, 1995

"Corporate Governance and the Failure of Internal Control Systems: Defects in the Human Brain," Nobel Symposium on Law and Finance, Stockholm, August, 1995

"The Third Industrial Revolution: Changing the Competitive Environment," and "Resolving the Control Problem and Providing for Adaptation: The Challenge to Top Management,"

CSC Index, New Models of Corporate Governance, Boston, MA, April 17, 1996

Andersen Consulting Strategic Services, Phoenix, AZ, April, 1995.

Corporate Finance and Governance Seminar, Federal Judges Program, Law and Economics Center, Emory University, Amelia Island, Florida, May, 1995

"The New Competitive Environment," and "Resolving the Control Problem and Providing for Adaptation: The Challenge to Top Management," Markets and Firms Conference, Auckland, NZ, February, 1995

"Ethics, Rational and Non-Rational Behavior, and Organizations," National Conference on Finance Ethics, U. of Florida, Gainesville, FL, January 1995

"Economics, Organizations, and Non-Rational Behavior," Presidential Address, Western Economic Association International, Vancouver, BC, June 1994

"Managing Change in A Global Environment," Continental Bank Corporate Finance Conference, Banff, Canada, June, 1994

"Commercial Banks' Role in Corporate Governance and Potential Alternatives: A Western Viewpoint," Task Force on Comparative Privatization," Institute for EastWest Studies, Berlin, May, 1994

"Rationality and Irrationality in Human Behavior," Mind, Brain, and Behavior Interfaculty Initiative, Harvard University, Cambridge, MA, January, 1994

"Economics, Psychology and Organizations," Conference on Economics and Organizations, University of Rochester, Rochester, NY, November, 1993

"The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems,"

Financial Executives Institute, Annual Conference for Senior Managers, Chicago, IL, October 1994.

Harvard Business School Executive Education Reunion, Boston, MA, June, 1994, Alumni Reunion, October, 1994

Emory University, Atlanta, April, 1994

Advanced Management Program, Harvard Business School, Boston, MA, April, 1994

Bradley Seminar on Business Competitiveness, University of Wisconsin, Milwaukee, April, 1994

Harvard Business School Clubs, Kuala Lumpur, Malaysia and Hong Kong, February, 1994

World Economic Forum, Davos, Switzerland, January, 1994

Competitiveness Council, Boston, MA, January, 1994

Workshop in Information Systems and Economics (WISE) Conference, Orlando, FL, December, 1993

Harvard Business School Alumni Reunion, October, 1993

Consortium on Competitiveness, Boston, MA, September, 1993

Business History Seminar, Harvard Business School, Boston, MA, September, 1993

Harvard Business School Association of Boston, September, 1993

World Economic Forum, Cambridge, MA, September, 1993

Western Economic Association International, Lake Tahoe, NV, June, 1993

Harvard Alumni Association, and Harvard Executive Education Alumni Association, Harvard Business School, Cambridge, MA, June 1993

Finance Seminar, University of Pittsburgh, Pittsburgh, PA, May, 1993

Organizational Behavior and the Theory of the Firm Seminar, Harvard Business School, Boston, MA, May, 1993

Continental Bank Financial Conference, La Quinta, CA, April 1993

Organizations and Markets Seminar, Simon School of Business, University of Rochester, Rochester, NY, May 1993

1st Karl Brunner Conference, Conflicts of Interest between Shareholders and Managers, University of Bern, Zurich, Switzerland, April 1993

Download a copy of The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems readable with Adobe Acrobat Reader.

"Science, Specific Knowledge, Quality Management, and the Case of Sterling Chemicals, Inc.," Field Studies in Quality Management Conference, Simon School, University of Rochester, Rochester, NY, March 1993.

"Finance, Governance and Organization," Presidential Address, American Finance Association, Anaheim, CA, January 1993.

"Emerging Role of the Compensation Committee" The Shadow SEC Meeting, Washington, DC, November, 1992.

"The Politics of Finance," Program for Management Development, Harvard Business School, Boston, MA, November, 1992

"Emerging Role of the Compensation Committee," Conference on Compensation Committees in the 90s-"CEO Pay: Is the System Broke?" Management Compensation Group and the National Association of Corporate Directors, San Francisco, CA, May 1992.

"Corporate Governance and the Failure of the Internal Control System," Conference on Corporate Governance: New Problems and New Solutions, Center for Economic Policy Research, Stanford University, Palo Alto, CA, April 1992.

"The Decade of the 80's and the Failure of the Internal Control System"

Simon School of Business, University of Rochester, Rochester, NY, April 1992

SEC Public Forum on Corporate Governance and American Economic Competitiveness: The Role of Shareholders, Directors and Management, Washington, DC, March 1992

Finance Seminar, Babson College, Boston, MA, April 1992

"The Decade of the 80s and the Future of the Corporation," American Society of Corporate Secretaries, Pittsburgh, PA, March 1992.

"The Role of the Board of Directors in Creating Shareholder Value," Continental Bank Corporate Finance Seminar, Beaver Creek, CO, February 1992.

"Eclipse of the Public Corporation," Harvard Business School Alumni Association of India, Bombay, January, 1992,

Download a copy of Eclipse of the Public Corporation readable with Adobe Acrobat Reader.

Discussant, "Adam Smith and the Study of Organizations," by Thomas McCraw, and "What is a Firm? A Historical Perspective," by Alfred Chandler, Business History Seminar, Harvard Business School, December, 1991.

"Knowledge, Control and Organizational Structure," Telecommunications Conference, Salomon Island, MD, September 29, 1991.

"Politics and Ethical Issues in Finance," Association Francaise de Finance (AFFI), Universit_(c) Catholique de Louvain, Louvain-la-Neuve, Belgium, July 1, 1991.

"Finance, Governance and Organization," Plenary Lecture, Association Francaise de Finance (AFFI), Universit_(c) Catholique de Louvain, Louvain-la-Neuve, Belgium, July 1, 1991.

"Capitalism Is Not the Stock Market," Honorary Degree Ceremony, Universit_(c) Catholique de Louvain, Louvain-la-Neuve, Belgium, July 1, 1991.

"Corporate Control and the Decade of the '80s," Harvard Business School Club of Toronto, Toronto, Canada, June 1991.

"The Productivity of R&D; Expenditures,"

Stanford Business School, Palo Alto, CA, March 11, 1991.

Harvard Business School, Seminar on Organizational Behavior and the Theory of the Firm, November 30, 1990.

"The Privatization of the Bankruptcy Process," and "Violations of Contract Rights by the Bankruptcy Courts," Conference on Corporate Bankruptcy and Distressed Restructurings: Analytical Issue and Investment Opportunities, New York University Salomon Center, NY, February 28-March 1, 1991.

"Contract Failure and Boom/Bust Cycles in Venture Markets," Eleventh Annual Bond Conference, Fixed Income Society, NY, NY, February 1, 1991.

"Four Star Management," with George Baker and Richard Hackman, Harvard Business School, Organizations and Markets Roundtable and Work in Process Seminar, January 31, 1990.

"CEO Compensation: The Data and the Politics," Compensation Council, Conference Board, Boston, MA, October, 10, 1990.

"Knowledge, Control and Organizational Structure," Nobel Symposium No. 77, Saltsjobaden/Stockholm, Sweden, August 18-20, 1990.

"Active Investors, LBOs and the Politics of Finance,"

Corporate Finance Conference, "Financing in the '90s," Continental Bank, Hilton Head Island, SC, October, 27 1990.

Berkshire Partners Annual Meeting, Boston, MA, September 27, 1990.

International Senior Managers Program, Harvard Business School, July 10, 1990.

Contemporary Developments in Accounting and Control, Harvard Business School, July 10, 1990.

Harvard MBA and Executive Education Reunions, Boston, MA, May 31, June 1, 4 and 5, 1990.

Marriott Controllers Conference, Cancun, Mexico, May 29, 1990.

Investor's Conference, San Francisco, CA, May 21, 1990.

Panelist, Corporate Governance Workshop, Wharton School, May 23, 1990.

Panelist, "Takeovers in the 1990s," Groundbreaking Day, Simon School of Business, U. of Rochester, Rochester, NY, May 16, 1990.

Panelist, "Culture and Group Norms," Organizational Behavior and the Theory of the Firm Seminar, Harvard Business School, Boston, MA April 27, 1990.

"Active Investors, Private Capital and the Politics of Finance,"

Advanced Management Program, Harvard Business School, Boston, MA April 30, May 10, 1990, October 10, 1990.

Continental Bank 1990 Financial Conference, Scottsdale, AZ, April 29, 1990.

"Performance Pay and Top Management Incentives," Financial Research Center Seminar, Department of Economics, Princeton University, Princeton, NJ, April 13, 1990.

Download a copy of Performance Pay and Top Management Incentives readable withAdobe Acrobat Reader.

"Eclipse of the Public Corporation" and "The Politics of Finance," Legal Theory Workshop, Yale Law School, New Haven, CT, April 12, 1990.

Download a copy of Eclipse of the Public Corporation readable with Adobe Acrobat Reader.

"The Politics of Finance: The Uneasy Tension Between Managers and Markets," and "Research Challenges in Finance," Eastern Finance Association Keynote Address, Charleston, SC, April 6, 1990.

Panelist, "High Leverage Forum," J. Ira Harris Center for the Study of Corporate Finance, University of Michigan, Ann Arbor, MI, March 15, 1990.

"Lessons From the World of LBOs," Alcan Senior Manager Conference, Amelia Island, FL, March 9, 1990.

Lecturer, LEC Advanced Course for Federal Judges on Corporate Governance and Financial Markets, George Mason School of Law, Law and Economics Center, Marco Island, FL, February 7-9, 1990.

"The Effects of LBOs on the Economy: Issues and Evidence,"

Boca Grande Men's Club, Boca Grande, FL, February 21, 1990.

Agribusiness Seminar, Harvard Business School, Boston, MA, February 5, 1990

Institutional Investor, CEO Roundtable, Naples, FL, January 12, 1990.

Cliometric Society, Atlanta GA, December 28, 1989.

Conference, Realizing the Value in Your Company, M&A; Magazine, Chicago, IL, December 11, 1989.

Real Estate Symposium, Harvard Business School, Boston, MA, December 4, 1989.

T. Rowe Price Associates, Baltimore, MD, November 30, 1989.

The Garn Institute of Finance, Financial Markets in the 1990's, Key Largo, FL, November 12, 1989.

"Performance Pay and Top Management Incentives," Economics Seminar, Yale School of Organization and Management, New Haven, CT, April 27, 1989.

Download a copy of Performance Pay and Top Management Incentives readable with Adobe Acrobat Reader.

"The Economic Effects of LBOs," Strom Thurmond Institute, Symposium on "LBOs: Financial Paradise or Corporate Ruin?" National Press Club, Washington DC, April 12, 1989.

"Capital Market Theory, Knowledge and Research," discussion at 1989 Conference on Socio-Economics, Harvard Business School, March 31, 1989.

"Active Investors, LBOs and the Privatization of Bankruptcy,"

Continental Bank, Chicago, IL, June 28, 1989.

Citicorp, NY, June 19, 1989.

Council on Financial Competition, Washington, DC, June 1, 1989.

Leveraged Buyouts and Public Policy, American Enterprise Institute, Washington, DC, May 20, 1989.

Worldwide Financial Management Conference, Merck & Co., Great Gorge, NJ, May 15, 1989.

Pension Trust/Global Custody Conference, Chase Manhattan Bank, Colorado Springs, CO, May 2, 1989.

Institutional Research Conference, Drexel Burnham Lambert, Los Angeles, CA, April 7, 1989.

Senior Managers Conference, Nabisco Brands, Inc., March 16, 1989, Florham Park, NJ.

Download a copy of Active Investors, LBOs and the Privatization of Bankruptcy readable with Adobe Acrobat Reader.

"The Effects of LBOs and Corporate Debt on the Economy," Conference on High Leverage, Low Protection: The Two-Sided Problem of Corporate Debt, Heyman Center on Corporate Governance, New York, March 7, 1989.

"Capital Markets, Organizational Innovation, and Restructuring," Academic Consultants Meeting, Board of Governors of the Federal Reserve System, Washington, DC, January 12, 1989.

"The Resurgence of Active Investors: Private vs Public Markets," with Jay Light, Seminar on Financial Decisions and Control," Harvard Business School, December 13, 1988.

"The LBO Association as a New Organizational Form and the Privatization of Bankruptcy," Conference on Financial-Economic Perspectives on the High-Yield Debt Market, New York University, December 9, 1988.

"Joint Costs and the Design of Efficient Cost Accounting Systems" Conference on Accounting and the Theory of the Firm, William E. Simon School of Business, University of Rochester, Rochester, N.Y., November 11, 1988.

"Rebuilding the Corporation: The Revival of Active Investors," Institutional Investor 1988 Corporate Financial Executive Roundtable, Rebuilding the Corporation, Washington, D.C., October, 17, 1988.

"The Market for Corporate Control: A Response to the Elimination of Financial Institutions as Monitors of Management, TIAA-CREF Symposium on Corporate Governance, NY, September 27, 1988.

Conference on Taxation and Corporate Finance, National Bureau of Economic Research, Participant, Cambridge, MA, August 8-12, 1988.

"Forum on Applied Corporate Finance," Lecturer, Continental Illinois Capital Markets Group, Continental Bank, Singapore, Taipei, and Tokyo, July 18-21, 1988.

"Free Cash Flow and the Incentive Effects of Debt," Ralston Purina Company, St. Louis, Missouri, May 26, 1988.

"Leveraged Buyouts and the Reemergence of Institutional Monitoring of Managers," Conference on Management Buyouts, Salomon Brothers Center for the Study of Financial Institutions, Graduate School of Business, New York University, New York, NY, May 20, 1988.

Download a copy of Leveraged Buyouts and the Reemergence of Institutional Monitoring of Managers readable with Adobe Acrobat Reader.

"The Absence of Pay for Performance and Top Management Incentives,"

Ralston Purina Company, St. Louis, Missouri, May 26, 1988

Joint Harvard Club of Rochester and Harvard Business School Club of Rochester, Rochester, NY, May 13, 1988.

Executive Development Program Seminar Series, Simon School of Business, University of Rochester, Rochester, NY., May 6, 1988.

Conference on Advanced Issues in Mergers and Acquisitions, Mergers & Acquisitions, Rye, New York, May 5, 1988.

"Performance Pay and Top Management Incentives," Management Seminar Series, Krannert School of Management, Purdue University, West Lafayette, Indiana, April 29, 1988.

Download a copy of Performance Pay and Top Management Incentives readable with Adobe Acrobat Reader.

"Corporate Takeovers: New Rules for Mergers and Acquisitions," Institutional Investor, New York, NY, April 19, 1988.

"Agency Costs of Free Cash Flow and Incentives of Debt," High-Yield Bond Conference, Drexel-Burnham Lambert, Los Angeles, CA, April 15, 1988.

"Compensation and Incentives: Practice vs. Theory,"

Seminar on Rational Models in the Social Sciences, Department of Economics, University of Chicago, Chicago, IL, May 24, 1988.

Organizations and Markets Workshop, University of Rochester, March 29, 1988.

Seminar on Economics, Management Theories and Behavioral Sciences, Harvard Business School, Boston, MA, March 16, 1988.

Download a copy of Compensation and Incentives: Practice vs. Theory readable with Adobe Acrobat Reader.

"Mergers and Acquisitions: The Future," Citibank, Captive Island, FL, March, 1988.

"Incentives, Compensation, and the Theory of the Firm," joint session of the American Finance Association and the American Economic Association, ASSA Meetings, Chicago, IL, December 28, 1987.

"Free Cash Flow and the Effects of Mergers and Acquisitions on the Economy," Federal Reserve Bank of Boston Conference on Merger Boom, October 12-14, 1987.

Download a copy of Free Cash Flow and the Effects of Mergers and Acquisitions on the Economy readable with Adobe Acrobat Reader.

"Restructuring: Causes and Consequences," Corporate Finance Network Conference, McKinsey & Company, Inc., September 22, 1987.

"Corporate Takeovers Revisited: Policy Implications of Recent Research," Panel Discussion, Brookings Institution, Washington, D.C., September 22, 1987.

"Takeovers: Their Causes and Consequences" Competitiveness Seminar, Harvard Business School, September 9, 1987.

Download a copy of Takeovers: Their Causes and Consequences readable with Adobe Acrobat Reader.

"Reform of the Proxy Process," panel discussion, United Shareholders Association, Washington, D.C, June, 1987.

"Are Executive Compensation Contracts Structured Properly"

Economics Seminar, Dept. of Economics, Clemson Univ., March 21, 1988.

Finance Workshop, Kellogg School of Management, Northwestern Univ., Oct. 28, 1987.

Labor/Public Finance Workshop, Massachusetts Institute of Technology, Oct. 26, 1987.

Applications Workshop, University of Chicago, October 19, 1987.

Labor Workshop, Harvard University, September 30, 1987.

Industrial Relations Workshop, Sloan School of Management, MIT, Sept. 27, 1987.

Harvard Business School Control Workshop, September 14, 1987.

Organizations and Markets Workshop, University of Rochester, May 19, 1987.

American Economics Association, New Orleans, December, 1986.

"The Takeover Controversy"

Harvard Business School MBA 25th & 30th Reunion, September 1987.

Harvard Business School MBA Reunion & Executive Education Reunion, June, 1987.

Seminar for Top Management in Retailing, Harvard Business School, June, 1987.

Harvard Business School Club of Rochester, May, 1987.

Town Hall of California, and Harvard Business School Club of Los Angeles, March, 1987.

Download a copy of The Takeover Controversy readable with Adobe Acrobat Reader.

"The Effect of Takeovers on the Economy," 36th Public Relations Seminar, Boca Raton, FL, May, 1987.

Lecturer, George Mason University Law and Economics Center Advanced Course for Federal Judges on Corporate Governance and Financial Markets, Captiva Island, FL, March, 1987 and March 1988.

Conference on the Economic Effects of Mergers and Acquisitions, National Bureau of Economic Research, Discussant, Key Largo, FL, February, 1987.

"Takeovers in the United States and the Agency Costs of Free Cash Flow" The London School of Economics Financial Markets Group Conference on the Economics of Takeovers, London, December, 1986.

"Takeovers and the Agency Costs of Free Cash Flow"

Workshop on Corporate Finance, European Institute for Advanced Studies in Management, Brussels, December, 1986.

Department of Applied Economic Sciences, Katholieke Universiteit Leuven, Belgium, December, 1986.

"Takeovers and the Agency Costs of Free Cash Flow," and "Organization Theory" - Westinghouse Corporation, November, 1986.

"Current Research Issues in Corporate Control" - Financial Management Association, 1986 Doctoral Student Seminar, N. Y., October, 1986.

"Takeovers and the Business Judgement Rule," and "Free Cash Flow Theory" - National Bureau of Economic Research, 1986 Summer Institute on Mergers and Acquisitions, Cambridge, MA, August, 1986.

Download a copy of Takeovers and the Business Judgement Rule readable with Adobe Acrobat Reader.

"Divisional Performance Measurement" Harvard Colloquium on Field Studies in Accounting, June 18-20, 1986.

Download a copy of Divisional Performance Measurement readable with Adobe Acrobat Reader.

"Free Cash Flow and the Takeover Controversy" Eastman Kodak Company, Rochester, NY, June 10, 1986.

Participant - National Bureau of Economic Research Conference on Mergers and Acquisitions, Cambridge, MA, May 8, 1986.

"The Takeover Controversy" Graduate School of Management, University of Rochester, Executive Development Program Evening Seminar, Rochester, NY, May 2, 1986.

Download a copy of The Takeover Controversy readable with Adobe Acrobat Reader.

"Where Are We in the Shareholder Revolution?" Batterymarch Financial Management Client Workshop, Boston, MA, April 22, 1986.

"The Takeover Controversy: Analysis and Evidence" The Rodney L. White Center for Financial Research, The Wharton School, University of Pennsylvania, Philadelphia, PA, April 18, 1986.

Download a copy of The Takeover Controversy: Analysis and Evidence readable with Adobe Acrobat Reader.

Panelist - "The Dealmakers: Foretelling the Future of M&A;'s" session at the Institutional Investor Trader Forum Conference, New Orleans, LA, April 4, 1986.

"The Takeover Controversy: The Conflict Between Shareholders and Managers" - Cato Institute Policy Forum, Washington, D.C., March 20, 1986.

"The Takeover Controversy" Rochester Society of Security Analysts, Rochester, NY, March 12, 1986.

Download a copy of The Takeover Controversy readable with Adobe Acrobat Reader.

"Free Cash Flow and Takeovers" Trustees Meeting, University of Rochester, Rochester, NY, February 7, 1986.

"The Agency Costs of Free Cash Flow: Corporate Finance and Takeovers"

International Association of Energy Economists, MIT, November, 1986.

Program for Management Development, Harvard Business School, November, 1986.

Rochester/Erasmus Executive Development Program, Univ. of Rochester, July, 1986.

Financial Analysts Federation Investment Mgmt. Workshop, Princeton, July, 22, 1986.

Harvard Business School Reunion Weekend Program, May 30 and June 2, 1986.

Organizations and Markets Workshop, Graduate School of Management, University of Rochester, May 20, 1986.

Presidents Seminar, Harvard Business School, January, 1986.

Download a copy of The Agency Costs of Free Cash Flow: Corporate Finance and Takeovers readable with Adobe Acrobat Reader.


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Coordination, Control, and
the Management of Organizations

Journal Of Financial Economics