Global Advisors | Quantified Strategy Consulting

agency theory

“Knowledge-building proficiency involves constructive skepticism about what we think we know. Our initial perceptions of problems and initial ideas for new products can be hindered by assumptions that are no longer valid but rarely questioned.” Bartley J. Madden Value creation leader

Quote: Bartley J. Madden – Value creation leader

“The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities.” Michael Jensen Agency Theory Co-founder

Quote: Michael Jensen – “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers”

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