Chapter 17. Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure

  1. Donald A. Wittman
  1. Michael C. Jensen and
  2. William H. Meckling

Published Online: 17 DEC 2007

DOI: 10.1002/9780470752135.ch17

Economic Analysis of the Law: Selected Readings

Economic Analysis of the Law: Selected Readings

How to Cite

Jensen, M. C. and Meckling, W. H. (2004) Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure, in Economic Analysis of the Law: Selected Readings (ed D. A. Wittman), Blackwell Publishing Ltd, Oxford, UK. doi: 10.1002/9780470752135.ch17

Publication History

  1. Published Online: 17 DEC 2007
  2. Published Print: 1 JAN 2004

ISBN Information

Print ISBN: 9780631231578

Online ISBN: 9780470752135

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Keywords:

  • managerial behavior;
  • costs;
  • corporations;
  • contracts;
  • profit maximization

Summary

This chapter contains section titled:

  • Introduction and Summary

  • The Agency Costs of Outside Equity

  • Some Unanswered Questions Regarding the Existence of the Corporate Form

  • The Agency Costs of Debt

  • A Theory of the Corporate Ownership Structure

  • Conclusions