Michael Jensen

Michael Jensen is a renowned American economist and Harvard Business School professor, known for his work in financial economics and corporate finance. His research has been influenced by the works of Milton Friedman, Gary Becker, and Eugene Fama. Jensen's contributions have been recognized by various institutions, including the American Finance Association and the National Bureau of Economic Research. He has also been associated with the University of Chicago, where he earned his Ph.D. in economics.

● Introduction

Michael Jensen's work has had a significant impact on the field of finance, with his research focusing on topics such as agency theory, corporate governance, and executive compensation. His work has been cited by numerous scholars, including Joseph Stiglitz, George Akerlof, and Robert Shiller. Jensen's research has also been influenced by the works of Adam Smith, John Maynard Keynes, and Frank Knight. He has been a member of the American Academy of Arts and Sciences and has served on the editorial board of the Journal of Financial Economics.

● Biography

Michael Jensen was born on November 30, 1939, in Rochester, Minnesota. He earned his Bachelor's degree from Macalester College and his Master's degree and Ph.D. in economics from the University of Chicago. Jensen's academic career has been marked by associations with prestigious institutions, including the University of Rochester, where he served as the Laurence F. Whittemore Professor of Business Administration. He has also been a visiting scholar at the Massachusetts Institute of Technology and the Stanford Graduate School of Business.

● Academic Career

Jensen's academic career has been marked by numerous appointments and affiliations with renowned institutions. He has been a professor at the Harvard Business School and has served as the Jesse Isidor Straus Professor of Business Administration. Jensen has also been associated with the National Bureau of Economic Research, where he has served as a research associate. His work has been influenced by the research of Fischer Black, Myron Scholes, and Robert Merton. Jensen has also been a member of the American Economic Association and has served on the editorial board of the Journal of Finance.

● Research and Contributions

Michael Jensen's research has focused on various topics in financial economics and corporate finance. His work on agency theory has been particularly influential, with his 1976 paper "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure" (co-authored with William Meckling) being a seminal contribution to the field. Jensen's research has also explored topics such as executive compensation, corporate governance, and financial markets. His work has been cited by numerous scholars, including Nobel laureates such as Merton Miller, Harry Markowitz, and William Sharpe. Jensen's contributions have also been recognized by institutions such as the University of Chicago Booth School of Business and the Sloan School of Management.

● Awards and Honors

Michael Jensen has received numerous awards and honors for his contributions to the field of finance. He has been awarded the Morgan Stanley-American Finance Association Award for Excellence in Financial Economics and the Onassis Prize in Finance. Jensen has also been elected a fellow of the American Finance Association and the Financial Management Association International. His work has been recognized by institutions such as the Wharton School of the University of Pennsylvania and the London Business School. Jensen has also received honorary degrees from institutions such as the University of Geneva and the Norwegian School of Economics. Category:American economists