Entrepreneurs who start new firms may choose not-for-profit status as a means of commiting to soft incentives. Such … derive conditions under which completely self-interested entrepreneurs opt for not-for-profit status, despite the fact that … high quality products, the incentives are even softer, and, moreover, non-profit status can serve as a signal of that taste …

performance-evaluation methods. This approach allows us to study the returns to insider transactions beginning on the day after …