Michael C. Jensen Quote

Most organisations firms are simply legal fictions which serve as a nexus for a set of contracting relationships among individuals.


p. 310 - "Theory of the firm: Managerial behavior, agency costs and ownership structure", 1976

Picture Quote 1

Most organisations firms are simply legal fictions which serve as a nexus for a set of contracting relationships among individuals.

Picture Quote 2

Most organisations firms are simply legal fictions which serve as a nexus for a set of contracting relationships among individuals.

Picture Quote 3

Most organisations firms are simply legal fictions which serve as a nexus for a set of contracting relationships among individuals.

Picture Quote 4

Most organisations firms are simply legal fictions which serve as a nexus for a set of contracting relationships among individuals.