Michael C. Jensen, the Jesse Isidor Straus Professor of Business Administration Emeritus at Harvard Business School, has received the 2009 Morgan Stanley-American Finance Association (AFA) Award for Excellence in Financial Economics. According to Jeremy Stein, the Moise Y. Safra Professor of Economics at Harvard University, who chaired the AFA Selection Committee, Jensen's "research on agency theory, organizational design, and incentives has helped to define the modern paradigm for how both academics and practitioners think about many of the most fundamental issues in corporate finance, corporate governance, and law and economics, to name just a few of the fields that have been shaped by his thinking."

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