William H. Meckling

William H. Meckling was an influential American economist best known for his work in the fields of finance and economics, particularly for co-authoring the seminal paper on agency theory with Michael C. Jensen. This theory explores the relationship between principals (owners) and agents (managers), focusing on how to align their interests to minimize conflicts, especially in business settings. His research has significantly impacted corporate governance, organizational behavior, and understanding economic incentives. Meckling's work laid the groundwork for various practices in management and finance, highlighting the importance of proper alignment in business relationships for improved performance.