This study will explore the relationship between governance quality, accumulated wealth, and organizational performance in U.S. nonprofits. Accumulated wealth in nonprofits has been previously shown to reduce overall support contributions due to donor perception of reduced need of financial...

We study the design of institutions as a framework for regulating innovative activity in the private sector given the informational constraints faced by the social planner. Innovation in the private sector by financial institutions and manufacturing firms imposes important positive and negative...

The effect of corporate governance may depend on a firm's financial slack. On one hand, financial slack may be spent by managers for their private benefits; a high level is likely associated with severe agency conflicts. Thus corporate governance matters more for high financial slack firms...