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Michael Jensen-la théorie positive de l’agence et ses applications à l’architecture et à la gouvernance des organisations

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Author Info

  • Gérard Charreaux

    ()
    (Université de Bourgogne)

Abstract

L'objectif de cet article est de faire une présentation des travaux de M.C. Jensen dans le domaine de l'architecture et de la gouvernance des organisations. Après avoir précisé les principales composantes et le champ d’application de la théorie positive de l’agence,sont présentées les applications de cette théorie dans les champs de la finance, du contrôle de gestion et de la gestion des ressources humaines, à travers les travaux de M.C. Jensen

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Bibliographic Info

Paper provided by Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations in its series Working Papers CREGO with number 1041203.

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Length: 31 pages
Date of creation: Dec 2004
Date of revision:
Handle: RePEc:dij:wpfarg:1041203

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Postal: 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

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Postal: Angèle Renaud, CREGO, 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
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Related research

Keywords: théorie positive de l'agence; architecture organisationnelle; gouvernance d'entreprise; valeur de marché; budget; rémunérations des dirigeants;

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References

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  1. Wruck, Karen Hopper & Jensen, Michael C., 1994. "Science, specific knowledge, and total quality management," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 18(3), pages 247-287, November.
  2. Demsetz, Harold, 1988. "The Theory of the Firm Revisited," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 4(1), pages 141-61, Spring.
  3. Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 26(2), pages 327-49, June.
  4. Gérard Charreaux, 1998. "La théorie positive de l'agence:lecture et relectures..," Working Papers CREGO, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations 0980901, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
  5. Michael C. Jensen, 1991. "Corporate Control And The Politics Of Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 4(2), pages 13-34.
  6. Fama, Eugene F, et al, 1969. "The Adjustment of Stock Prices to New Information," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(1), pages 1-21, February.
  7. Michael C. Jensen, 2004. "The Agency Costs of Overvalued Equity and the Current State of Corporate Finance," European Financial Management, European Financial Management Association, European Financial Management Association, vol. 10(4), pages 549-565.
  8. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-29, May.
  9. Fama, Eugene F. & Jensen, Michael C., 1985. "Organizational forms and investment decisions," Journal of Financial Economics, Elsevier, Elsevier, vol. 14(1), pages 101-119, March.
  10. Michael C. Jensen, 2003. "Paying People to Lie: the Truth about the Budgeting Process," European Financial Management, European Financial Management Association, European Financial Management Association, vol. 9(3), pages 379-406.
  11. Michael C. Jensen & William H. Meckling, 1994. "The Nature Of Man," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 4-19.
  12. Michael C. Jensen & William H. Heckling, 1995. "Specific And General Knowledge, And Organizational Structure," Journal of Applied Corporate Finance, Morgan Stanley, vol. 8(2), pages 4-18.
  13. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42.
  14. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 26(2), pages 301-25, June.
  15. Jensen, Michael C & Murphy, Kevin J, 1990. "Performance Pay and Top-Management Incentives," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(2), pages 225-64, April.
  16. Michael C. Jensen, 1994. "Self-Interest, Altruism, Incentives, And Agency Theory," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 40-45.
  17. Williamson, Oliver E, 1988. " Corporate Finance and Corporate Governance," Journal of Finance, American Finance Association, American Finance Association, vol. 43(3), pages 567-91, July.
  18. Michael C. Jensen, 2010. "The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 43-58.
  19. Michael C. Jensen & Kevin J. Murphy, 1990. "Ceo Incentives - It'S Not How Much You Pay, But How," Journal of Applied Corporate Finance, Morgan Stanley, vol. 3(3), pages 36-49.
  20. Michael C. Jensen, 2005. "Agency Costs of Overvalued Equity," Financial Management, Financial Management Association, Financial Management Association, vol. 34(1), Spring.
  21. William H. Meckling, 1976. "Values and the Choice of the Model of the Individual in the Social Sciences," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), Swiss Society of Economics and Statistics (SSES), vol. 112(IV), pages 545-560, December.
  22. Gérard Charreaux, 2000. "La théorie positive de l'agence : positionnement et apports," Revue d'Économie Industrielle, Programme National Persée, vol. 92(1), pages 193-214.
  23. Jensen, Michael C & Meckling, William H, 1979. "Rights and Production Functions: An Application to Labor-managed Firms and Codetermination," The Journal of Business, University of Chicago Press, vol. 52(4), pages 469-506, October.
  24. Jensen, Michael C. & Ruback, Richard S., 1983. "The market for corporate control : The scientific evidence," Journal of Financial Economics, Elsevier, Elsevier, vol. 11(1-4), pages 5-50, April.
  25. Baker, George P & Jensen, Michael C & Murphy, Kevin J, 1988. " Compensation and Incentives: Practice vs. Theory," Journal of Finance, American Finance Association, American Finance Association, vol. 43(3), pages 593-616, July.
  26. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-95, December.
  27. Merton H. Miller & Franco Modigliani, 1961. "Dividend Policy, Growth, and the Valuation of Shares," The Journal of Business, University of Chicago Press, vol. 34, pages 411.
  28. Brunner, Karl & Meckling, William H, 1977. "The Perception of Man and the Conception of Government," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 9(1), pages 70-85, February.
  29. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, Elsevier, vol. 3(4), pages 305-360, October.
  30. Gérard Charreaux, 2001. "Michael Jensen:Le pionnier de la finance organisationnelle," Working Papers CREGO, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations 1010201, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
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Cited by:
  1. Ghazi Zouari, 2011. "Specific knowledge, investment decision and organizational architecture," Working Papers CREGO, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations 1110501, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.

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