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  1. Value Maximization, Stakeholder Theory, and the Corporate Objective Function.Michael C. Jensen - 2002 - Business Ethics Quarterly 12 (2):235-256.
    Abstract: In this article, I offer a proposal to clarify what I believe is the proper relation between value maximization and stakeholder theory, which I call enlightened value maximization. Enlightened value maximization utilizes much of the structure of stakeholder theory but accepts maximization of the long-run value of the firm as the criterion for making the requisite tradeoffs among its stakeholders, and specifies long-term value maximization or value seeking as the firm’s objective. This proposal therefore solves the problems that arise (...)
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  2. Production, Information Costs, and Economic Organization.Armen Alchian, Harold Demsetz, Kenneth Arrow, Richard Edwards, Herbert Gintis & Michael C. Jensen - 1983 - Philosophy and Public Affairs 12 (4):354-368.
     
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  3. Moral Markets: The Critical Role of Values in the Economy.Michael C. Jensen - 2008 - Princeton University Press.
     
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