ahn" "T • aran Davies" , "Sondra Baker" 'Silke Steinber "Sam Hurwitz" , "Roger Christen" "Richard Bren" "Nicki Purcell" "Michael Anderson" "Michael Jensen" "Masood Vanessa . "Scott R. "RU fas .\Ilicntarle" "Ma Ann Zoellner" , "Madhu Vijayan" "Linda Hawkins" "Laura Horton" , "Jonathan Stack" ,

rket Hypothesis (EMH)16. Using the implications of the CAPM, one of the first studies to actually evaluate fund performance and test the EMH was by Michael Jensen (1968). Jensen systematically tested the performance of 115 mutual funds over a period of 19 years. He concluded that only fund significantly outpe

most part been pre-occupied with the "agency problem" in corporate law. -4* One of the most prominent contemporary analysts of the agency problem, Michael Jensen, has late in his career come to the conclusion that the traditional agency problem has been well-enough solved. '99 Jensen, working with co-authors

most part been pre-occupied with the "agency problem" in corporate law. -4* One of the most prominent contemporary analysts of the agency problem, Michael Jensen, has late in his career come to the conclusion that the traditional agency problem has been well-enough solved. '99 Jensen, working with co-authors