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  • 2012
  • Working Paper

Putting Integrity into Finance: A Purely Positive Approach
By: Werner Erhard and Michael C. Jensen
We summarize our new positive theory of integrity that has no normative content, and argue that there are large gains from putting integrity into finance—into both the theory and practice of finance. We define integrity as being whole and complete and unbroken. We...  View Details
Keywords: Finance; Ethics; Theory; Practice; Change
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  • 2012
  • Working Paper

Author-Level Eigenfactor Metrics: Evaluating the Influence of Authors, Institutions and Countries within the SSRN community
By: Jevin D. West, Michael C. Jensen, Ralph J. Dandrea, Gregg Gordon and Carl T. Bergstrom
In this paper, we show how the Eigenfactor® score, originally designed for ranking scholarly journals, can be adapted to rank the scholarly output of authors, institutions, and countries based on author-level citation data. Using the methods described herein, we...  View Details
Keywords: Body of Literature; Measurement and Metrics; Networks; Rank and Position; Research; Motivation and Incentives
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  • 2011
  • Other Unpublished Work

Pioneers in Finance: An Interview with Michael C. Jensen - Part 1
By: Michael C. Jensen and Ralph A. Walkling
This interview is first of a two-part series in which Professor Ralph Walkling, the Stratakis Chair in Corporate Governance and Executive Director of the Center for Corporate Governance at Drexel University, interviews Professor Michael C. Jensen, Jesse Isidor Straus...  View Details
Keywords: Corporate Governance; Governing and Advisory Boards; Research; Financial Crisis; Compensation and Benefits; Agency Theory
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  • 2011
  • Other Unpublished Work

Pioneers in Finance: An Interview with Michael C. Jensen - Part 2
By: Michael C. Jensen and Ralph A. Walkling
This interview is Part 2 of a two-part series in which Professor Ralph Walkling, the Stratakis Chair in Corporate Governance and Executive Director of the Center for Corporate Governance at Drexel University, interviews Professor Michael C. Jensen, Jesse Isidor Straus...  View Details
Keywords: Corporate Governance; Ethics; Research; Markets; Leadership
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  • 2011
  • Working Paper

CEO Bonus Plans: And How to Fix Them
By: Kevin J. Murphy and Michael C. Jensen
Almost all CEO and executive bonus plans have serious design flaws that limit their benefits dramatically. Such poorly designed executive bonus plans destroy value by providing incentives to manipulate the timing of earnings, mislead the board about organizational...  View Details
Keywords: Business Earnings; Competency and Skills; Cost of Capital; Executive Compensation; Risk Management; Performance Evaluation; Projects; Motivation and Incentives; Value
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  • 2012
  • Chapter

Creating Leaders: An Ontological/Phenomenological Model
By: Michael C. Jensen, Werner Erhard and Kari L. Granger
The sole objective of our ontological/phenomenological approach to creating leaders is to leave students actually being leaders and exercising leadership effectively as their natural self-expression. By "natural self-expression" we mean a way of being and acting in any...  View Details
Keywords: Leadership Development; Attitudes; Behavior; Experience and Expertise; Knowledge Acquisition
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  • 2011
  • Working Paper

The Three Foundations of a Great Life, Great Leadership, and a Great Organization
By: Michael C. Jensen
I argue here that the three factors my co-authors and I identify as constituting the foundation for being a leader and the effective exercise of leadership can also be seen as the foundations not only for great leadership, but also for a high quality personal life and...  View Details
Keywords: Leadership; Organizations; Performance Effectiveness; Work-Life Balance; Strategy; Value
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  • 2010
  • Working Paper

A 'Value-Free' Approach to Values (PDF File of PowerPoint Slides)
By: Michael C. Jensen and Werner Erhard
We argue here that the three factors we identify as constituting the foundation for being a leader and the effective exercise of leadership can also be seen as "A 'Value-Free' Approach to Values" that proves to be very effective in allowing students to acquire the...  View Details
Keywords: Leadership Development; Attitudes; Values and Beliefs
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  • 2010
  • Working Paper

Being a Leader and the Effective Exercise of Leadership: An Ontological Model (PDF File of PowerPoint Slides)
By: Werner Erhard, Michael C. Jensen and Kari Granger

This presentation is based on our research program over the last seven years in which our objective has been to rigorously distinguish leader and leadership and to create a technology for providing access to being a leader and exercising leadership effectively (in...  View Details

Keywords: Curriculum and Courses; Innovation and Invention; Leadership Development; Goals and Objectives; Research and Development; Attitudes; Perception; Technology; United States
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  • 2010
  • Working Paper

Course Materials For: 'Being a Leader and the Effective Exercise of Leadership - An Ontological Model'
By: Werner H. Erhard, Michael C. Jensen, Steve Zaffron and Kari L. Granger
This course is designed to leave students being leaders and exercising leadership effectively as their natural self-expression - rather than attempting to learn the characteristics, styles, and skills of noteworthy leaders, and then trying to remember and apply them...  View Details
Keywords: Curriculum and Courses; Leadership Development; Research; Science; Attitudes
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  • 2010
  • Working Paper

CREATING LEADERS WORKSHOP: Mastering the Principles and Effective Delivery of 'The Ontological Leadership Course' (PDF File of PowerPoint Slides)
By: Werner Erhard, Michael C. Jensen, Kari L. Granger and Joseph J. DiMaggio M.D.
This workshop is designed to support participants in gaining mastery in the delivery of our new course: "Being A Leader and the Effective Exercise of Leadership: An Ontological Model." The Workshop was delivered at the United States Air Force Academy (July 13 - 16,...  View Details
Keywords: Curriculum and Courses; Values and Beliefs; Globalization; Policy; Leadership Development; Goals and Objectives; Performance Capacity; Social and Collaborative Networks
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  • 2010
  • Working Paper

Creating Leaders: An Ontological Model
By: Werner Erhard, Michael C. Jensen and Kari L. Granger
The sole objective of our ontological approach to creating leaders is to leave students actually being leaders and exercising leadership effectively as their natural self-expression. By "natural self-expression" we mean a way of being and acting in any leadership...  View Details
Keywords: Leadership Development; Goals and Objectives; Science; Attitudes; Perspective
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  • 2010
  • Working Paper

A New Paradigm of Individual, Group and Organizational Performance
By: Werner Erhard, Michael C. Jensen and The Barbados Group
"The committee is therefore unable to draw conclusions, based on scientific evidence, on what does or does not work to enhance organizational performance" —Committee on Techniques for the Enhancement of Human Performance of the U.S. National Research Council Commission...  View Details
Keywords: Organizations; Performance Improvement; Research; Opportunities
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  • 2010
  • Working Paper

Introductory Reading for Being a Leader and the Effective Exercise of Leadership: An Ontological Model
By: Werner Erhard, Michael C. Jensen, Steve Zaffron and Kari L. Granger
This paper is the sixth of six pre-course reading assignments for an experimental leadership course developed by the authors over five years (2004-2008) at the U. of Rochester Simon School of Business working with students, alumni, executives, and faculty from various...  View Details
Keywords: Leadership Development; Curriculum and Courses; Strategy; Performance Capacity; Attitudes; Behavior; United States; Netherlands; Texas
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  • 2010
  • Working Paper

Just Say No to Wall Street: Putting A Stop to the Earnings Game
By: Joseph Fuller and Michael C. Jensen

Putting an end to the "earnings game" requires that CEOs reclaim the initiative by avoiding earnings guidance and managing expectations in such a way that their stocks trade reasonably close to their intrinsic value. In place of earnings forecasts, management should...  View Details

Keywords: Stocks; Performance Expectations; Goals and Objectives; Risk and Uncertainty; Growth and Development Strategy; Decisions; Risk Management; Budgets and Budgeting; Earnings Management; Value; Projects
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  • 2010
  • Working Paper

A New Model of Integrity: The Missing Factor Of Production (PDF file of Keynote and PowerPoint Slides)
By: Michael C. Jensen, Kari L. Granger and Werner Erhard

An Actionable Pathway To Dramatic Increases In Individual And Organizational Performance.

Full Day Executive Program Seminar taught at Olin Business School, Washington University, St. Louis, MO.

Workshop Objectives:

To provide you and your...  View Details

Keywords: Performance Improvement; Programs; Trust; Competitive Advantage; Value Creation; Washington (state, US)
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  • 2010
  • Working Paper

A New Model of Leadership (PDF File of Keynote Slides)
By: Michael C. Jensen and Allan L. Scherr
In this paper we provide a new definition of leadership that gives organizations and individuals access to new power, performance and accomplishment. In our model leadership consists of four critical elements The creation of a vision for the future that represents a...  View Details
Keywords: Forecasting and Prediction; Knowledge Dissemination; Leadership; Goals and Objectives; System
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  • 2010
  • Working Paper

Integrity: A Positive Model That Incorporates the Normative Phenomena of Morality, Ethics, and Legality Abridged
By: Werner H. Erhard, Michael C. Jensen and Steve Zaffron
We present a positive model of integrity that, as we distinguish and define integrity, provides powerful access to increased performance for individuals, groups, organizations, and societies. Our model reveals the causal link between integrity and increased...  View Details
Keywords: Trust; Performance Productivity; Information Technology; Knowledge; Moral Sensibility; Opportunities; Competitive Advantage; Legal Liability; Cost vs Benefits
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  • 2010
  • Working Paper

Beyond Agency Theory: The Hidden and Heretofore Inaccessible Power of Integrity (PDF file of Keynote Slides)
By: Michael C. Jensen and Werner Erhard

There is far too much concern today about the conflicts of interest between people; for example, conflicts of interest between agents and owners—historically a favorite topic of Jensen—and not enough attention paid to the damage caused by an individual's conflict of...  View Details

Keywords: Moral Sensibility; Lawfulness; Production; Organizations; Performance Improvement; Agency Theory; Conflict of Interests; Trust; Competitive Advantage; Value Creation
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  • Article

Pioneers in Finance: An Interview with Michael C. Jensen - Part 1
By: Michael C. Jensen and Ralph A. Walkling
Keywords: Finance
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