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HBS professor emeritus Michael Jensen, an influential expert in the areas of agency theory, organizational design, and incentives, was awarded the 2009 Morgan Stanley–American Finance Association Award for Excellence in Financial Economics. Jensen, whose research was cited for its far-reaching impact on corporate finance, corporate governance, and law and economics, announced in January that he will donate the $200,000 cash grant to the National Bureau of Economic Research, Harvard Business School, and the Simon Graduate School of Business at the University of Rochester.

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