Michael Cole Jensen joined the of the
Harvard Business School in
1990. Currently, he is the managing director in charge of organizational strategy at Monitor Group, a strategy consulting firm.
Before that, he was a professor of finance and business administration at the
William E. Simon Graduate School of Business Administration,
University of Rochester,
Rochester, New York.
He was a visiting scholar at the
Tuck School of Business at
Dartmouth College through the 1990-1992 academic year, and in 1995 he was named a fellow of the European Corporate Governance Institute.
He received his A.B. in Economics from
Macalester College in 1962. He received both his M.B.A. (1964) and Ph.D. (1968) degrees from the
University of Chicago Graduate School of Business, notably working with Professor
Merton Miller.
Prof. Jensen has played an important role in the academic discussion of the
capital asset pricing model, of
stock options policy, and of
corporate governance, developing a method of measuring fund manager performance, the so-called
Jensen's measure.
Jensen's best-known work is the 1976 paper he co-authored with William H. Meckling, "Theory of the firm: Managerial behaviour, agency costs and ownership structure," one of the most widely-cited economics papers of the last 30 years. Besides reigniting interest in theory of the firm (a field pioneered by
Ronald Coase), the paper's argument that managers' interests are different from those of shareholders laid the foundation for the widespread use of stock options as executive compensation tools.
Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University.
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20th century - 21st century
1960s 1970s 1980s - 1990s - 2000s 2010s 2020s
1987 1988 1989 - 1990 - 1991 1992 1993
Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar).
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William Edward Simon (November 27 1927 – June 3 2000) was a businessman, a Secretary of Treasury of the U.S. for three years, and a philanthropist. He became the 63rd Secretary of the Treasury on May 8 1974, during the Nixon administration.
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University of Rochester (UR) is a private, coeducational and nonsectarian research university located in Rochester, New York. The university is one of 62 elected members of the Association of American Universities.
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Rochester, New York
A portion of Rochester's skyline, looking north-northeast along the Genesee River from the Ford Street Bridge.
Flag
Seal
Nickname:
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The Amos Tuck School of Business Administration is the business school of Dartmouth College in Hanover, New Hampshire. Founded in 1900, Tuck is the oldest graduate school of business in the world.
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Dartmouth College is a private, coeducational university located in Hanover, New Hampshire, USA. Incorporated as "Trustees of Dartmouth College,"[6][7]
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Macalester College is a privately supported, coeducational liberal arts college in Saint Paul, Minnesota. It was founded in 1874 as a Presbyterian-affiliated but nonsectarian college. Its first class entered September 15, 1885. The college is located on a 53 acre (21.
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University of Chicago Graduate School of Business, also known as Chicago GSB, is one of the world’s leading business schools and the second oldest in the United States.
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Merton Miller
Born May 16 1923(1923--)
Boston, Massachusetts
Died May 3 2000 (aged 77)
Chicago, Illinois
Residence U.S.
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Capital Asset Pricing Model (CAPM) is used in finance to determine a theoretically appropriate required rate of return (and thus the price if expected cash flows can be estimated) of an asset, if that asset is to be added to an already well-diversified portfolio, given that
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Options are financial instruments that convey the right, but not the obligation, to engage in a future transaction on some underlying security. For example, buying a call option provides the right to buy a specified quantity of a security at a set strike price at some time on or
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Business law
Business organizations
Basic forms:
Sole proprietorship
Corporation
Partnership
(General · Limited · LLP)
Cooperative
USA:
Business trust · LLC · LLLP
Delaware corporation
Nevada corporation
UK/Commonwealth:
Limited company
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In finance, Jensen's alpha (or Jensen's Performance Index) is used to determine the excess return of a stock, other security, or portfolio over the security's required rate of return as determined by the Capital Asset Pricing Model.
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Ronald Harry Coase (b. December 29, 1910) is a British economist and the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School. After studying with the University of London External Programme in 1927-29, Coase entered the London School of
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