The problem of assessing a system of governance for composite services in the social economy is approached by means of original methods. The main innovation is that the welfare structure of a society is separated from the legal transaction - or institutional structure. As both the various types...

quot;Taking Stockquot; explores the place of newspaper journalism in the publicly traded newspaper companies. It does so through an analysis at the level of the firm and the organization of the publicly held business entity and its subsidiaries, analyzing financial operations, organization and...

This paper presents empirical results of the effects of board structure and composition on individual board level performance using data from New York City nonprofits. The results support a model of executive behavior in which the nonprofit executive uses his or her power to push boards towards...

This paper examines the incentives of CEOs in a large sample of nonprofit hospitals. The evidence suggests that the relations between financial performance (return on assets) and CEO turnover and compensation are as strong in nonprofit hospitals as in for-profit hospitals and other for-profit...

This paper explores the functions and limitations of democratic governance by analyzing the allocation of decision-making authority in colleges and universities. Contrary to the conventional perception that large numbers and heterogeneity of voters and issues undermine the efficiency of...

A cybernetic perspective is used to evaluate firms with or without stakeholder participation in their information and control architecture. This approach also provides a basis for evaluating firms with more than one board or control center as found in Japan, Europe, and labor-managed firms....

This paper examines the extent to which agency theory may explain CEO compensation in state-owned enterprises (SOEs) in China during the 1980s. We find that the sensitivity of CEO pay to firm performance decreases with the variance of performance. This is consistent with the prediction of a...

We show that, in general, consistent estimates of cost pass-through are not obtained from reduced-form regressions of price on cost. We derive a formal approximation for the bias that arises even under standard orthogonality conditions. We provide guidance on the conditions under which bias may...