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Specific Knowledge and Divisional Performance Measurement

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  • Michael C. Jensen
  • William H. Meckling

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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Bibliographic 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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Cited by:
  1. Konstantinos J. Liapis, 2010. "The Residual Value Models: A Framework for Business Administration," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 83-102.

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