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A Harvard Business School professor, Michael C. Jensen evangelized for stock options, golden parachutes, and leveraged buyouts, empowering Wall Street’s greed-is-good era.
Adrian Wooldridge remembers Michael Jensen, who championed the ethos of shareholder value and reshaped the landscape of capitalism.
Harvard Business School’s Michael Jensen was at the heart of the intellectual revolution that transformed capitalism from the 1970s onwards. Was he hero or villain?
A comment on the Securities and Exchange Commission’s proposed rule “Share Repurchase Disclosure Modernization”, aka stock buybacks.
It’s Time to Replace the Public Corporation We need a model that truly focuses on the long term. by Andrea Stone Summary. Critics charge that in today’s heavily traded capital markets, executives are increasingly incentivized to manage in tiny, short-term windows, with an eager eye on their stock-based compensation and a fearful one on activist hedge funds. In any case, something isn’t working: The number of public companies in the United States declined by half from 1997 to 2015, while the number of companies with a dominant shareholder or a dominant group of shar...