William H. Meckling

William H. Meckling is an influential economist recognized for his foundational work in the domains of agency theory and corporate finance. Alongside Michael Jensen and Stephen Ross, he introduced the principal-agent dilemma in the 1970s, which describes the challenges that arise when one individual (the principal) delegates authority to another (the agent). This concept has become a cornerstone in understanding the dynamics of organizational behavior and governance, impacting both the academic landscape and real-world business practices.