Abstract

http://ssrn.com/abstract=244155
 
 

Citations (8)



 
 

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Can the Corporation Survive?


Michael C. Jensen


Social Science Electronic Publishing (SSEP), Inc.; Harvard Business School; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)

William H. Meckling


Simon School, University of Rochester (Deceased)

January 30, 1978

Financial Analysts Journal, Vol. 31, No. 1, pp. 31-37, January/February 1978
Harvard Business School NOM Unit Working Paper No. 1978

Abstract:     
One of the tactics politicians use in their quest for power is to draw a false distinction between human rights and property rights. Property rights are, in the last analysis, rights of individuals. As investors, who have a direct stake in the property rights of corporation, become less certain that society will honor those rights, the capitalized values of corporate securities will erode - ultimately to the point that many corporations will be able to remain in business only so long as they can finance their operations from internally generated cash flow or public subsidy.

Number of Pages in PDF File: 19

Keywords: Rights, regulation, private enterprise, contracts, rights, regulation, private enterprise, contracts

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Date posted: May 15, 2001 ; Last revised: May 18, 2013

Suggested Citation

Jensen, Michael C. and Meckling, William H., Can the Corporation Survive? (January 30, 1978). Financial Analysts Journal, Vol. 31, No. 1, pp. 31-37, January/February 1978; Harvard Business School NOM Unit Working Paper No. 1978. Available at SSRN: http://ssrn.com/abstract=244155 or http://dx.doi.org/10.2139/ssrn.244155

Contact Information

Michael C. Jensen (Contact Author)
Social Science Electronic Publishing (SSEP), Inc. ( email )
7858 Sanderling Road
Sarasota, FL 34242
United States
617-510-3363 (Phone)
305 675-3166 (Fax)
HOME PAGE: http://ssrn.com/author=9

Harvard Business School ( email )
Soldiers Field
Negotiations, Organizations & Markets
Boston, MA 02163
United States
617-510-3363 (Phone)
305-675-3166 (Fax)
HOME PAGE: http://drfd.hbs.edu/fit/public/facultyInfo.do?facInfo=ovr&facId=6484
National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
European Corporate Governance Institute (ECGI) ( email )
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
William H. Meckling
Simon School, University of Rochester (Deceased)
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