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Specific Knowledge and Divisional Performance Measurement

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Author Info
Michael C. Jensen
William H. Meckling

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Abstract

This classic by the formulators of agency cost theory discusses five common divisional performance measurement methods-cost centers, revenue centers, profit centers, investment centers, and expense centers-while providing a theory that attempts to explain when each of these methods is likely to be the most efficient. The central insight of the theory is that each method offers a different way of aligning decision-making authority with valuable "specific knowledge" inside the organization. Copyright Copyright (c) 2009 Morgan Stanley.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6622.2009.00225.x
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Publisher Info
Article provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.

Volume (Year): 21 (2009)
Issue (Month): 2 ()
Pages: 49-57
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Handle: RePEc:bla:jacrfn:v:21:y:2009:i:2:p:49-57

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196

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This page was last updated on 2009-12-4.

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