Michael
C. Jensen
Jesse Isidor Straus Professor of Business
Administration, Emeritus
Click here
to go to my SSRN Author Page where almost all my papers are available for
download.
Michael C. Jensen and Joseph Fuller, 'What's a Director to Do?,' Harvard NOM Research Paper No. 02-38 (October 2002). Forthcoming in Best Practices: Ideas and Insights from the World's Foremost Business Thinkers, (Cambridge, MA: Perseus Publishing and London, Bloomsbury Publishing, 2002).
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Michael C. Jensen and Joseph Fuller, 'Just Say No to Wall Street: Courageous CEOs are putting a stop to the earnings game and we will all be better off for It,' in the Journal of Applied Corporate Finance, (Winter 2002), Vol. 14, No. 4, pp 41-46. Excerpts of this article were published in the Wall Street Journal, 'Manager's Journal' column under the title, 'Dare To Keep Your Stock Price Low,' December 31, 2001, and in the Financial Times, under the title 'End the Myth-Making and Return to True Analysis,' Jan 22, 2002.
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Street readable with Adobe Acrobat Reader
Michael C.
Jensen, 'Paying People to Lie: The Truth About the Budgeting Process,' Harvard
NOM Research Paper No. 01-01, and HBS Working Paper No. 01-072 (April 2001). An executive summary of this paper entitled 'Corporate Budgeting Is Broken, Let's
Fix It' was published in the Harvard Business Review, Nov., 2001.
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People to Lie: The Truth About the Budgeting Process readable with Adobe Acrobat Reader
Michael C. Jensen, 'Value Maximization and the Corporate
Objective Function,' in Unfolding Stakeholder Thinking, edited by Joerg Andriof, Sandra Waddock, Sandra Rahman
and Bryan Husted, (Greenleaf Publishing, 2002). Earlier versions of this paper
appeared in the Journal of Applied Corporate Finance, Fall 2001; Business
Ethics Quarterly, Vol. 12, No.1, Jan 2002;
the European Financial Management Review,
2001; and Breaking the Code of Change, Michael
Beer and Nithan Norhia, eds, (Harvard Business School Press, 2000). It was also presented at WP EFMA Athens
2000, and was published as Harvard NOM Research Paper No. 00-04 and Harvard
Business School Working Paper No. 00-058.
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Maximization and the Corporate Objective Function, readable with Adobe Acrobat Reader
Michael C. Jensen, George P. Baker, Carliss Y. Baldwin, and
Karen H. Wruck, 'Organizations and Markets at Harvard Business School,
1984-1996,' in The Intellectual Venture Capitalist: John H. McArthur and the
Work of the Harvard Business School, 1980-1995, Thomas K. McCraw and Jeffrey L. Cruikshank, Eds., (Harvard
Business School Press, 1998).
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Abstract and to Download Full Text of Organizations
and Markets at Harvard Business School, 1984-1996 readable with Adobe Acrobat Reader
Jensen, Michael C. and William H. Meckling, 'Divisional
Performance Measurement,' in Michael C. Jensen, Foundations of
Organizational Strategy. (Harvard
University Press, 1998), pp. 345-361.
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Performance Measurement readable with Adobe Acrobat Reader
Michael C. Jensen with Donald H. Chew, 'U.S. Corporate
Governance: Lessons from the 1980s,' in The Portable MBA in Finance and
Accounting, John Leslie Livingstone, Ed.,
(John Wiley & Sons, 1995), pp. 337-404. Abridged version published in Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, (Harvard University
Press, 2000).
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Abstract and to Download Full Text of U.S.
Corporate Governance: Lessons from the 1980s readable with Adobe Acrobat Reader
Karen Hopper Wruck and Michael C. Jensen, 'Science,
Specific Knowledge, and Total Quality Management,' Journal of Accounting and
Economics (1994) pp. 247-287. Reprinted in
Michael C. Jensen, Foundations
of Organizational Strategy, (Harvard University Press, 1998).
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Specific Knowledge, and Total Quality Management readable with Adobe Acrobat Reader.
Michael C. Jensen and William H. Meckling, 'The Nature of
Man,' The Journal of Applied Corporate Finance (Summer 1994), pp. 4-19. Reprinted in Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998).
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Nature of Man readable with Adobe Acrobat Reader
Michael C. Jensen, 'Self Interest, Altruism, Incentives,
and Agency Theory,' The Journal of Applied Corporate Finance (Summer 1994), pp. 40-45. Reprinted in Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998).
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Interest, Altruism, Incentives, and Agency Theory readable with Adobe Acrobat Reader
Michael C. Jensen, 'The Modern Industrial Revolution, Exit,
and the Failure of Internal Control Systems,' The Journal of Finance, (July, 1993). Reprinted in the Journal of Applied
Corporate Finance, (Winter 1994) Vol. 6,
No. 4, and in Finanzmarkt und Portfolio Management, (January 1993), Vol 7, No. 3. Reprinted in Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, (Harvard University
Press, 2000).
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Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems
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Michael C. Jensen and William H. Meckling, 'Specific and
General Knowledge, and Organizational Structure,' in Contract Economics, Lars Werin and Hans Wijkander, eds., (Blackwell, Oxford
1992), pp. 251-274. Reprinted in Journal of Applied Corporate Finance, (Fall 1995) and Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998).
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and General Knowledge, and Organizational Structure readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Corporate Control and the Politics of
Finance,' Journal of Applied Corporate Finance (Summer, 1991), pp. 13-33.
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Control and the Politics of Finance readable with Adobe Acrobat Reader
Michael C. Jensen and Kevin J. Murphy, 'CEO Incentives: Its
Not How Much You Pay, But How,' Harvard Business Review (May/June, 1990), pp. 138-153.
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Incentives: Its Not How Much You Pay, But How readable with Adobe Acrobat Reader.
Michael C. Jensen and Kevin J. Murphy, 'Performance Pay and
Top Management Incentives,' Journal of Political Economy (April, 1990), pp. 225-265. Reprinted in Michael C.
Jensen, Foundations
of Organizational Strategy, (Harvard University Press, 1998). Related work: Michael C.
Jensen and Kevin J. Murphy, 'A New Survey of Executive Compensation,' Full
Survey and Technical Appendix to 'CEO Incentives-It's Not How Much You Pay But
How,' Harvard Business Review (May/June
1990)
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Pay and Top Management Incentives readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Eclipse of the Public Corporation,' Harvard
Business Review (September-October, 1989).
Reprinted in The Law of Mergers, Acquisitions, and Reorganizations, Dale A. Oesterle, ed. (West Publishing, 1991).
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of the Public Corporation readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Active Investors, LBOs, and the
Privatization of Bankruptcy,' Journal of Applied Corporate Finance, Vol. 2, No. 1 (Spring 1989), pp. 35-44. Reprinted in Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, (Harvard University
Press, 2000).
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Investors, LBOs, and the Privatization of Bankruptcy readable with Adobe Acrobat Reader.
Michael C. Jensen, Steven Kaplan, Laura Stiglin, 'Effects
of LBOs on Tax Revenues of the U.S. Treasury,' Tax Notes, Vol. 42, No. 6 (February 6, 1989), pp. 727-733. Reprinted
in The Law of Mergers, Acquisitions, and Reorganizations, Dale A. Oesterle, ed. (West Publishing 1991)..
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of LBOs on Tax Revenues of the U.S. Treasury readable with Adobe Acrobat Reader.
George P. Baker, Michael C. Jensen and Kevin J. Murphy,
'Compensation and Incentives: Practice vs. Theory,' Journal of Finance (July,
1988). Reprinted in Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998).
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and Incentives: Practice vs. Theory readable with Adobe Acrobat Reader.
Michael C. Jensen and Jerold B. Warner, 'The Distribution
of Power Among Corporate Managers, Shareholders, and Directors,' Journal of
Financial Economics (February 1988).
Reprinted in Theory
of the Firm: Governance, Residual Claims, and Organizational Forms,
(Harvard University Press, 2000).
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Distribution of Power Among Corporate Managers, Shareholders, and Directors
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Michael C. Jensen, 'Takeovers: Their Causes and
Consequences,' Journal of Economic Perspectives, Vol. 2, No. 1 (Winter, 1988). Reprinted in Readings in
Mergers and Acquisitions, Patrick A.
Gaughan, ed., (Basil Blackwell, 1993).
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Their Causes and Consequences readable with Adobe Acrobat Reader.
Michael C. Jensen,'The Free Cash Flow Theory of Takeovers:
A Financial Perspective on Mergers and Acquisitions and the Economy,' in The
Merger Boom, Federal Reserve Bank of
Boston, Vol. 31 (January 1988).
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Free Cash Flow Theory of Takeovers: A Financial Perspective on Mergers and
Acquisitions and the Economy
readable with Adobe Acrobat Reader
Michael C. Jensen, 'The Takeover Controversy: Analysis and
Evidence,' The Midland Corporate Finance Journal (Summer, 1986), also appears in Knights, Raiders and
Targets: The Impact of the Hostile Takeover,
John Coffee, Louis Lowenstein, and Susan Rose-Ackerman, editors (Oxford
University Press, 1988), and Joel M. Stern, G. Bennett Stewart III, and Donald
H. Chew, eds., Corporate Restructuring & Executive Compensation (Ballinger Publishing, Cambridge, MA, 1989), pp.
3-43.
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Takeover Controversy: Analysis and Evidence readable with Adobe Acrobat Reader.
Michael C. Jensen, William H. Meckling and Clifford G.
Holderness, 'Analysis of Alternative Standing Doctrines,' International
Review of Law and Economics (December,
1986).
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of Alternative Standing Doctrines readable with Adobe Acrobat Reader.
Michael C. Jensen, 'The Agency Costs of Free Cash Flow:
Corporate Finance and Takeovers,' American Economic Review, Vol. 76, No. 2 (May, 1986), also appears in Management
Buy-Outs, Mike Wright editor, part of the
International Library of Management, series editor Keith Bradley (Dartmouth
Publishing, England and Vermont 1994), pp. 3-9. Reprinted in abridged form as
'Agency Costs of Free Cash Flow and Takeovers,' in Simon Management Review, (Winter, 1986).
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Agency Costs of Free Cash Flow readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Takeovers: The Controversy and the
Evidence,' Proceedings of the William G. Karnes Symposium on Mergers and
Acquisitions (Bureau of Economic and
Business Research, University of Illinois, 1986).
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The Controversy and the Evidence readable with Adobe Acrobat Reader.
Michael C. Jensen, 'When Unocal Won Over Pickins,
Shareholders and Society Lost,' Financier
9, November 1985, pp. 50-52.
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Unocal Won Over Pickens, Shareholders and Society Lost readable with Adobe Acrobat Reader
Michael C. Jensen and Clifford W. Smith, Jr., 'Stockholder,
Manager, and Creditor Interests: Applications of Agency Theory,' Recent
Advances in Corporate Finance, E. Altman and
M. Subrahmanyam, Editors (Dow-Jones Irwin, 1985). Reprinted in Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, (Harvard University
Press, 2000).
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Manager, and Creditor Interests: Applications of Agency Theory readable
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Reader.
Eugene F. Fama and Michael C. Jensen, 'Organizational Forms
and Investment Decisions,' Journal of Financial Economics, Vol. 14, No. 1 (March, 1985). Reprinted in Theory of the Firm: Governance,
Residual Claims, and Organizational Forms, (Harvard University Press, 2000).
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Forms and Investment Decisions readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Takeovers: Folklore and Science,'
Harvard Business Review (November-December, 1984). Earlier versions of this
paper entitled 'Corporate Control: Folklore vs. Science,' were published in the
Graduate School of Management, University of Rochester Management Journal, Vol.
2, No. 2 (Autumn, 1983) and as International Institute for Economic Research
Reprint Paper 19 (June, 1984).
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Folklore and Science readable with Adobe Acrobat Reader.
Michael C. Jensen and Clifford W. Smith, 'The Theory of
Corporate Finance: A Historical Overview,' in ed. Michael C. Jensen and
Clifford W. Smith, The Modern Theory of Corporate Finance, (McGraw-Hill, 1984), pp. 2-20.
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Theory of Corporate Finance: A Historical Overview readable with Adobe Acrobat Reader.
Eugene F. Fama and Michael C. Jensen, 'Agency Problems and
Residual Claims,' Journal of Law and Economics, Vol. 26, No. 2 (June, 1983). Reprinted in Michael C.
Jensen, Foundations
of Organizational Strategy, (Harvard University Press, 1998).
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Problems and Residual Claims readable with Adobe Acrobat Reader.
Eugene F. Fama and Michael C. Jensen, 'Separation of
Ownership and Control,' Journal of Law and Economics, Vol. 26, No. 2 (June, 1983) reprinted in Management of
Non-Profit Organizations, Sharon M. Oster,
Editor (Dartmouth Publishing Co., 1994) and Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998).
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of Ownership and Control readable with Adobe Acrobat Reader.
Michael C. Jensen and Richard S. Ruback, 'The Market for
Corporate Control: The Scientific Evidence,' Journal of Financial Economics, Vol. 11, Nos. 1-4 (April, 1983).
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Market for Corporate Control: The Scientific Evidence readable with Adobe Acrobat Reader.
Michael C. Jensen and William H. Meckling, 'Corporate
Governance and Economic Democracy: An Attack on Freedom,' in Corporate
Governance: A Definite Exploration of the Issues, C. J. Huizenga, Editor (1983).
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Governance and Economic Democracy: An Attack on Freedom readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Organization Theory and Methodology,' The
Accounting Review, Vol. LVII, No. 2
(April, 1983). Reprinted in Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998).
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Theory and Methodology readable with Adobe Acrobat Reader.
William H. Meckling and Michael C. Jensen, 'Reflections on
the Corporation as a Social Invention,'in Controlling the Giant Corporation:
A Symposium (Center for Research in
Government Policy and Business, Graduate School of Management, University of
Rochester, 1982). Reprinted in the Midland Corporate Finance Journal, Vol. 1, No. 3 (Autumn, 1983); reprinted in International
Institute for Economic Research Reprint Paper 18 (November, 1983).
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on the Corporation as a Social Invention readable with Adobe Acrobat Reader
Michael C. Jensen, 'Toward a Theory of the Press,' in Economics
and Social Institutions, Karl Brunner,
Editor (Martinus Nijhoff Publishing Company, 1979).
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a Theory of the Press readable with Adobe Acrobat Reader
Michael C. Jensen and William H. Meckling, 'Rights and
Production Functions: An Application to Labor Managed Firms and
Codetermination,' Journal of Business,
Vol. 52, No. 4 (October, 1979). Reprinted in Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, (Harvard University
Press, 2000).
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and Production Functions: An Applications to Labor Managed Firms and
Codetermination readable with Adobe Acrobat Reader
Michael C. Jensen, 'Some Anomalous Evidence Regarding
Market Efficiency,' Journal of Financial Economics, Vol. 6, Nos. 2/3 (1978).
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Anomalous Evidence Regarding Market Efficiency readable with Adobe Acrobat Reader.
Michael C. Jensen and William H. Meckling, 'Can the
Corporation Survive?,' reprinted by Rockwell International (January, 1978); the
Financial Analysts Journal
(January/February, 1978); The Company Corporation Newsletter, Vol. 4, Nos. 2, 3, 4, 5 (1977/1978); International
Institute for Economic Research Reprint Paper 6 (July, 1977); ERC Transcript
Reprint Series, No. 5 (May, 1977); Iowa Life Underwriters' Life Lines (March, 1977); American Institute's Economic Education
Bulletin, Vol. XVII, No. 3 (March, 1977); MBA
Magazine (March, 1977); Bethel Home
News (January-February, 1977); Black &
Decker, 1976 Annual Report, Supplement (1976); Castle & Cooke, Inc. (1976).
For Abstract
and to Download Full Text of Can the
Corporation Survive? readable with Adobe Acrobat Reader.
Michael C. Jensen and William H. Meckling, 'Theory of the
Firm: Managerial Behavior, Agency Costs and Ownership Structure,' Journal of
Financial Economics, Vol. 3, No. 4 (1976).
(Excerpted in Issues in Accountability,
No. 6 (March, 1981), and Economics of Corporation Law and Securities Regulation, Richard A. Posner and Kenneth E. Scott, Editors, Little
Brown & Company (1980). Reprinted in The Modern Theory of Corporate
Finance, Michael C. Jensen and Clifford W.
Smith, Jr., Editors, McGraw-Hill Publishing Company (1984); Michael C. Jensen, Foundations of
Organizational Strategy, (Harvard University Press, 1998); and Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, (Harvard University
Press, 2000).
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of the Firm: Managerial Behavior, Agency Costs and Ownership Structure
readable with Adobe
Acrobat Reader.
Michael C. Jensen, 'Reflections on the State of Accounting
Research and the Regulation of Accounting,' Stanford Lectures in Accounting (Graduate School of Business, Stanford University, Palo
Alto, California (1976)).
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on the State of Accounting Research and the Regulation of Accounting
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Michael C. Jensen, 'Tests of Capital Market Theory and
Implications of the Evidence,' in Is Financial Analysis Useless? Proceedings of a Seminar on the Efficient Market and
Random Walk Hypotheses (The Financial Analysts Research Foundation, 1975).
Reprinted in Handbook of Financial Economics, J. L. Bicksler, Editor (North-Holland Publishing Company,
1979).
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of Capital Market Theory and Implications of the Evidence readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Optimal Utilization of Market Forecasts
and the Evaluation of Portfolio Performance,' in Mathematical Methods in
Finance, G. P. Szego and Karl Shell,
Editors (North-Holland Publishing Company, 1972).
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Forecasts and the Evaluation of Portfolio Performance readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Capital Markets: Theory and Evidence,' Bell
Journal of Economics and Management Science,
Vol. 3, No. 2 (Autumn, 1972).
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Markets: Theory and Evidence readable with Adobe Acrobat Reader.
Martin J. Bailey and Michael C. Jensen, 'Risk and the
Discount Rate for Public Investment' in Studies in the Theory of Capital
Markets, M. C. Jensen, Editor (Praeger
Publishers, 1972).
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Investment readable with Adobe Acrobat Reader.
Fischer Black, Michael C. Jensen, and Myron Scholes, 'The
Capital Asset Pricing Model: Some Empirical Tests,' in Studies in the Theory
of Capital Markets, M. C. Jensen, Editor
(Praeger Publishers, 1972). abstract
Michael C. Jensen, 'The Foundation and Current State of
Capital Market Theory,' in Studies in the Theory of Capital Markets, M. C. Jensen, Editor (Praeger Publishers, 1972).
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Foundation and Current State of Capital Market Theory readable with Adobe Acrobat Reader.
Michael C. Jensen and John B. Long, Jr., 'Corporate
Investment Under Uncertainty and Pareto Optimality in the Capital Markets,' Bell
Journal of Economics and Management Science,
Vol. 3, No. 3 (Spring, 1972).
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Investment Under Uncertainty and Pareto Optimality in the Capital Markets
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Michael C. Jensen and George A. Benington, 'Random Walks
and Technical Theories: Some Additional Evidence,' Journal of Finance (May, 1970). Reprinted in Security Evaluation and
Portfolio Analysis, E. Elton and M.
Gruber, Editors (Prentice-Hall,1972), and Investment Management: Some
Readings, J. Lorie and R. Brealey, Editors
(Praeger Publishers, 1972).
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Walks and Technical Theories: Some Additional Evidence readable with Adobe Acrobat Reader.
Michael C. Jensen, 'Risk, the Pricing of Capital Assets,
and the Evaluation of Investment Portfolios,' Journal of Business, Vol. 42 (April, 1969). Reprinted in Frontiers of
Investment Analysis, E. Bruce Fredrikson,
Editor (International Textbook Company, 1971). abstract
Eugene F. Fama, Lawrence Fisher, Michael C. Jensen and
Richard Roll, 'The Adjustment of Stock Prices to New Information,' International
Economic Review, Vol. 10 (February, 1969).
Reprinted in Investment Management: Some Readings, J. Lorie and R. Brealey, Editors (Praeger Publishers,
1972), and Strategic Issues in Finance,
Keith Wand, Editor, (Butterworth Heinemann, 1993).
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Adjustment of Stock Prices to New Information readable with Adobe Acrobat Reader
Michael C. Jensen, 'The Performance of Mutual Funds in the
Period 1945-1964,' Journal of Finance
(May, 1968). Reprinted in Investment Management: Some Readings, J. Lorie and R. Brealey, Editors (Praeger Publishers,
1972).
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the Period 1945-1964 readable with Adobe Acrobat Reader.
Theory of the Firm:
Governance, Residual Claims, and Organizational Forms, Michael C. Jensen (Harvard University Press, December
2000). abstract
Foundations
of Organizational Strategy, Michael C.
Jensen (Harvard University Press, October 1998). abstract
The Modern Theory of Corporate Finance, Michael C. Jensen and Clifford W. Smith, Jr., Editors
(McGraw-Hill Publishing Company, 1984). abstract
Democracy in Crisis,
Michael C. Jensen and William H. Meckling (unpublished manuscript, 1977). abstract
Studies in the Theory of Capital Markets, Michael C. Jensen, Editor (Praeger Publishers, 1972). abstract
Michael C. Jensen and Richard S. Ruback, eds., 'The
Structure and Governance of Enterprise,' Journal of Financial Economics, Vol. 27, Nos. 1-2 (October, 1990). abstract
Michael C. Jensen and Jerold Warner, eds., 'The
Distribution of Power Among Corporate Managers, Shareholders And Directors,' Journal
of Financial Economics, Vol. 20, Nos. 1-2
(Jan.-March, 1988). abstract
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Abstract and to Download Full Text of The
Distribution of Power Among Corporate Managers, Shareholders, and Directors
readable with Adobe
Acrobat Reader.
Michael C. Jensen and Clifford W. Smith, Jr., eds.,
'Investment Banking and the Capital Acquisition Process,' Journal of
Financial Economics, Vol. 15, Nos. 1-2
(January/February, 1986). abstract
Michael C. Jensen and Jerold L. Zimmerman, eds.,
'Management Compensation and the Managerial Labor Market,' Journal of
Accounting and Economics, Vol. 7, Nos. 1-3
(April, 1985), pp. 1-257. abstract
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Reader.
Michael C. Jensen, ed., 'The Market for Corporate Control:
The Scientific Evidence,' Journal of Financial Economics, Vol. 11, Nos. 1-4 (April, 1983), pp. 1-475. abstract
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Market for Corporate Control: The Scientific Evidence readable with Adobe Acrobat Reader.
Michael C. Jensen, ed., 'Some Anomalous Evidence Regarding
Market Efficiency,' Journal of Financial Economics, Vol. 6, Nos. 2-3 (June/September, 1978), pp. 93-330. abstract
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Abstract and to Download Full Text of Some
Anomalous Evidence Regarding Market Efficiency readable with Adobe Acrobat Reader.
Michael C. Jensen and Perry Fagan, 'Capitalism Isn't
Broken,' Wall Street Journal, (March
29, 1996), p. A10.
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Isn't Broken readable with Adobe Acrobat Reader
Michael C. Jensen, 'A Revolution Only Markets Could Love,' Wall
Street Journal, (January 3, 1994), p. A6.
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Revolution Only Markets Could Love readable with Adobe Acrobat Reader
Michael C. Jensen, 'The Market for Corporate Control,' in New
Palgrave Dictionary of Money and Finance,
(London, 1992). abstract
Michael C. Jensen, 'The Pros and Cons of Restructuring,' in
'Restructuring America Forum,' Institutional Investor, (June, 1989), p. 8. abstract
Michael C. Jensen, 'LBOs and the Reemergence of
Institutional Monitoring of Managers,' Leveraged Management Buyouts: Causes
and Consequences, Yakov Amihud, ed. (Dow
Jones Irwin, Homewood, IL, 1989), pp. 263-268. abstract
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Abstract and to Download Full Text of LBOs
and the Reemergence of Institutional Monitoring of Managers readable with Adobe Acrobat Reader
Michael C. Jensen, 'Is Leverage an Invitation to
Bankruptcy?,' Wall Street Journal, p. A
14, (February 1, 1989).
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Leverage an Invitation to Bankruptcy? readable with Adobe Acrobat Reader
Michael C. Jensen, 'Arbitrage, Information Theft, and
Insider Trading,' New Palgrave Dictionary of Money and Finance, (London, 1992); an earlier version appeared as
'Arbitrage, Information Theft, and the Mistaken Attack on Insider Trading,' in Chief
Financial Officer U.S.A., John Thackay,
ed. (Sterling Publications, London: 1988), pp. 114-115.
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Insider Trading readable with Adobe Acrobat Reader.
Michael C. Jensen, 'The Takeover Controversy,' Executive
Speeches, Vol. 2, No. 10 (May, 1988).
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Abstract and to Download Full Text of The
Takeover Controversy readable with Adobe Acrobat Reader
Michael C. Jensen, 'Characteristics of Hostile and Friendly
Takeover Targets: Comment,' Proceedings of Conference on Corporate
Takeovers: Causes and Consequences, Alan
Auerbach, ed., (University of Chicago Press, May 1988).
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and to Download Full Text of Characteristics of Hostile and Friendly
Takeover Targets: Comment readable with Adobe Acrobat Reader
Michael C. Jensen,'A Helping Hand for Entrenched Managers,'
Wall Street Journal (November 4, 1987).
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Managers readable with Adobe Acrobat Reader
Michael C. Jensen, 'The Takeover Controversy, the
Restructuring of Corporate America,' reprinted in From the Podium, Beta Gamma Sigma, (September 1987).
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Restructuring of Corporate America readable with Adobe Acrobat Reader
Michael C. Jensen, 'Don't Freeze the Arbs Out,' Wall
Street Journal, p. 22 (December 3, 1986).
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Michael C. Jensen, 'The Takeover Controversy: Shareholders
vs. Managers,' Cato Policy Report, Vol.
VIII, No. 3 (May/June, 1986). abstract
Michael C. Jensen, 'How to Detect a Prime Takeover Target,'
New York Times, (March 9, 1986). abstract
Michael C. Jensen, 'When Unocal Won Over Pickens,
Shareholders and Society Lost,' Financier
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Abstract and to Download Full Text of When Unocal Won Over Pickens,
Shareholders and Society Lost readable with Adobe Acrobat Reader
Michael C. Jensen, 'Mergers Benefiting Oil Patch,' Dallas
Morning News, (September 3, 1985). abstract
Michael C. Jensen, 'The Efficiency of Takeovers,' The
Corporate Board, (September/October 1985),
pp. 16-22.
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Michael C. Jensen and Jerold L. Zimmerman, 'Management
Compensation and the Managerial Labor Market,' Journal of Accounting and
Economics, Vol. 7, Nos. 1-3 (April, 1985).
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Abstract and to Download Full Text of 'Management Compensation and the Managerial Labor Market readable
with Adobe Acrobat
Reader.
Michael C. Jensen and Kevin J. Murphy, 'Beware the
Self-Serving Critics,' New York Times
(May 20, 1984).
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the Self-Serving Critics
readable with Adobe Acrobat Reader
Michael C. Jensen, 'Capital Structure Change and Decreases
in Stockholders' Wealth: Comment,' National Bureau of Economic Research
Proceedings of Conference on Corporate Capital Structures in the United States (University of Chicago Press, 1984). abstract
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