William Meckling

William Meckling is a significant figure in economics and management, best known for his work in agency theory alongside Michael Jensen. They developed the ideas around how businesses are structured, particularly the relationships between owners (shareholders) and managers. This theory addresses conflicts of interest and emphasizes the importance of aligning incentives to ensure that managers act in the best interest of shareholders. Meckling’s research has had a profound impact on corporate governance and finance, influencing how organizations manage risks and performance to enhance efficiency and accountability. His contributions are foundational in understanding modern business practices.