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Publications

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  • All HBS Web  (143)
    • Faculty Publications  (87)

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    • All HBS Web  (143)
      • Faculty Publications  (87)

      Michael Jensen Remove Michael Jensen →

      Page 1 of 87 Results →
      Faculty

      Michael Blank

      Faculty

      Michael Beer

      MICHAEL BEER Mike Beer is the Cahners-Rabb Professor of Business Administration, Emeritus at the Harvard Business School and author Fit to Compete: Why Honest Conversations About Your Company’s Capabilities are the Key to a Winning Strategy (2020) The book provides a road map for strategic change. It’s central themes is how honest, transformative conversations lead simultaneously to rapid change...
      Faculty

      Michael Chu

      Michael Chu was appointed a Senior Lecturer in the General Management Group of the Harvard Business School in July 2003, where he is part of the Social Enterprise Initiative. He is also a Partner Emeritus of the IGNIA Fund, a venture capital firm in Mexico dedicated to investing in disruptive enterprises delivering high impact goods and services to the emerging middle class and low-income...
      Faculty

      Michael I. Parzen

      Michael Parzen is a Senior Lecturer in the Technology and Operations Management unit at Harvard Business School. He is an applied statistician with extensive experience in data science education and currently teaches Applied Business Analytics as an MBA elective course. Professor Parzen has extensive business school experience, having previously had academic appointments at the University of...
      Faculty

      Michael E. Porter

      Michael Porter is an economist, researcher, author, advisor, speaker and teacher. Throughout his career at Harvard Business School, he has brought economic theory and strategy concepts to bear on many of the most challenging problems facing corporations, economies and societies, including market competition and company strategy, economic development, the environment, and health care. His...
      Faculty

      Michael S. Kaufman

      A Senior Lecturer at the Harvard Business School, Michael co-developed and teaches a second year MBA course, “Challenges and Opportunities in the Restaurant Industry.”  A founder and partner of Positive Strategy LLC, a management/strategy consulting firm, Michael helps boards and CEOs develop and implement navigation strategies in this ever-changing business environment. Prior to founding...
      Faculty

      Michael Lingzhi Li

      Faculty

      Michael Luca

      Michael Luca is the Lee J. Styslinger III Associate Professor of Business Administration at Harvard Business School, and a faculty research fellow at the NBER. Professor Luca's research, teaching, and advisory work focuses on the design of online platforms, and on the ways in which data can inform managerial and policy decisions. His research has been published in academic journals including the...
      Faculty

      Michael I. Norton

      Michael I. Norton is the Harold M. Brierley Professor of Business Administration at the Harvard Business School, and a member of Harvard’s Behavioral Insights Group. He holds a B.A. in Psychology and English from Williams College and a Ph.D. in Psychology from Princeton University. Prior to joining HBS, Professor Norton was a Fellow at the MIT Media Lab and MIT’s Sloan School of Management. He is...
      Faculty

      Michael W. Toffel

      Professor Toffel is the Senator John Heinz Professor of Environmental Management. His research examines how companies are addressing climate change (especially decarbonization) and other environmental and working condition issues in their operations and supply chains. He co-founded and hosts the HBS Climate Rising podcast, which covers a range of business and climate change topics, and co-created...

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      • June 2017
      • Article

      The Social Trajectory of a Finance Professor and the Common Sense of Capital

      By: Marion Fourcade and Rakesh Khurana
      This paper traces the career of Michael Jensen, a Chicago finance PhD turned Harvard Business School professor to reveal the intellectual and social conditions that enabled the emergence and institutionalization of what we call the “neoliberal common sense of capital,”...  View Details
      Keywords: Executive Pay; The Firm; Michael Jensen; Neo-Liberalism; Shareholder Value; Agency Theory; Corporate Governance; Executive Compensation; Business and Shareholder Relations; Transformation
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      Fourcade, Marion, and Rakesh Khurana. "The Social Trajectory of a Finance Professor and the Common Sense of Capital." History of Political Economy 49, no. 2 (June 2017): 347–381.
      • 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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      Erhard, Werner, and Michael C. Jensen. "Putting Integrity into Finance: A Purely Positive Approach." Harvard Business School Working Paper, No. 12-074, April 2012. (NBER Working Paper Series, No. 19986, April 2014.)
      • 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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      Jensen, Michael C., and Ralph A. Walkling. "Pioneers in Finance: An Interview with Michael C. Jensen - Part 1." December 2011. (Barbados Group Working Paper No. 10-12, Harvard Business School NOM Unit Working Paper No. 11-045.)
      • 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
      Citation
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      Jensen, Michael C., and Ralph A. Walkling. "Pioneers in Finance: An Interview with Michael C. Jensen - Part 2." December 2011. (Barbados Group Working Paper No. 11-05.)
      • 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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      Murphy, Kevin J., and Michael C. Jensen. "CEO Bonus Plans: And How to Fix Them." Harvard Business School Working Paper, No. 12-022, October 2011.
      • 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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      Jensen, Michael C. "The Three Foundations of a Great Life, Great Leadership, and a Great Organization." Harvard Business School Working Paper, No. 11-122, May 2011.
      • 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
      Citation
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      Jensen, Michael C., and Werner Erhard. "A 'Value-Free' Approach to Values (PDF File of PowerPoint Slides)." Harvard Business School Working Paper, No. 11-010, October 2010.
      • 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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      Erhard, Werner, Michael C. Jensen, and Kari Granger. "Being a Leader and the Effective Exercise of Leadership: An Ontological Model (PDF File of PowerPoint Slides)." Harvard Business School Working Paper, No. 09-124, October 2010.
      • 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
      Citation
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      Erhard, Werner, Michael C. Jensen, and Kari L. Granger. "Creating Leaders: An Ontological Model." Harvard Business School Working Paper, No. 11-037, October 2010.
      • 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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      Erhard, Werner, Michael C. Jensen, and The Barbados Group. "A New Paradigm of Individual, Group and Organizational Performance." Harvard Business School Working Paper, No. 11-006, July 2010.
      • 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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      Fuller, Joseph, and Michael C. Jensen. "Just Say No to Wall Street: Putting A Stop to the Earnings Game." Harvard Business School Working Paper, No. 10-090, April 2010.
      • 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
      Citation
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      Jensen, Michael C., and Allan L. Scherr. "A New Model of Leadership (PDF File of Keynote Slides)." Harvard Business School Working Paper, No. 07-107, February 2010.
      • 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
      Citation
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      Erhard, Werner H., Michael C. Jensen, and Steve Zaffron. "Integrity: A Positive Model That Incorporates the Normative Phenomena of Morality, Ethics, and Legality Abridged." Harvard Business School Working Paper, No. 10-061, February 2010.
      • 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
      Citation
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      Jensen, Michael C., and Werner Erhard. "Beyond Agency Theory: The Hidden and Heretofore Inaccessible Power of Integrity (PDF file of Keynote Slides)." Harvard Business School Working Paper, No. 10-068, February 2010.
      • Article

      Pioneers in Finance: An Interview with Michael C. Jensen - Part 1

      By: Michael C. Jensen and Ralph A. Walkling
      Keywords: Finance
      Citation
      Read Now
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      Jensen, Michael C., and Ralph A. Walkling. "Pioneers in Finance: An Interview with Michael C. Jensen - Part 1." Journal of Applied Finance 20, no. 2 (2010).
      • Article

      Pioneers in Finance: An Interview with Michael C. Jensen - Part 2

      By: Michael C. Jensen and Ralph A. Walkling
      Keywords: Finance
      Citation
      Read Now
      Related
      Jensen, Michael C., and Ralph A. Walkling. "Pioneers in Finance: An Interview with Michael C. Jensen - Part 2." Journal of Applied Finance 20, no. 2 (2010).
      • 2009
      • Working Paper

      Integrity: Without It Nothing Works

      By: Michael C. Jensen
      There is confusion between integrity, morality and ethics. In our much longer paper on the topic (see "Integrity: A Positive Model that Incorporates the Normative Phenomena of Morality, Ethics and Legality" (available at http://ssrn.com/abstract=920625)) my co-authors,...  View Details
      Keywords: Trust; Moral Sensibility; Legal Liability; Behavior
      Citation
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      Jensen, Michael C. "Integrity: Without It Nothing Works." Harvard Business School Working Paper, No. 10-042, November 2009.
      • 2009
      • Working Paper

      Specific Knowledge and Divisional Performance Measurement

      By: Michael C. Jensen and William H. Meckling
      This paper discusses five common divisional performance measurement methods—cost centers, revenue centers, profit centers, investment centers, and expense centers—providing a theory that explains when each of these methods is likely to be the most efficient. The...  View Details
      Keywords: Business Units; Business Headquarters; Decisions; Cost; Investment; Investment Return; Profit; Revenue; Knowledge Use and Leverage; Managerial Roles; Performance Efficiency; Strategy
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      Jensen, Michael C., and William H. Meckling. "Specific Knowledge and Divisional Performance Measurement." Harvard Business School Working Paper, No. 10-025, September 2009.
      • 2004
      • Working Paper

      Agency Costs of Overvalued Equity

      By: Michael C. Jensen
      Citation
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      Jensen, Michael C. "Agency Costs of Overvalued Equity." ECGI Working Paper Series in Finance, No. 39-2004, May 2004. (This paper is drawn from The Agency Cost of Overvalued Equity and the Current State of Corporate Finance (Keynote Lecture, European Financial Management Association), London, June 2002. It is also included in the Negotiation, Organizations and Markets Research Paper Series, Harvard NOM Research Paper No. 04-26.)
      • 2003
      • Chapter

      What's a Director to Do?

      By: Michael C. Jensen and Joseph Fuller
      Keywords: Managerial Roles; Decision Making
      Citation
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      Jensen, Michael C., and Joseph Fuller. "What's a Director to Do?" In Best Practice: Ideas and Insights from the World's Foremost Business Thinkers, edited by Tom Brown and Robert Heller. Cambridge, MA: Perseus Publishing, 2003.
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