Abstract
The Agency Theory developed by Jensen and Meckling transformed how we view the corporation. Its basic conclusion is that the whole is greater than the sum of its parts. Corporations create value simply by doing what other organizations cannot do through arm’s length market transactions.
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© 2015 Colin Read
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Read, C. (2015). Life and Legacy. In: The Corporate Financiers. Great Minds in Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9781137341280_35
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DOI: https://doi.org/10.1057/9781137341280_35
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46505-7
Online ISBN: 978-1-137-34128-0
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