Affiliation:
1. Jennifer J. Gaver is a Professor at The University of Georgia, University of Georgia, and S. Mary Im is an Assistant Professor at California State Polytechnic University, Pomona.
Abstract
SYNOPSIS
We examine the relation between funding composition and excess CEO compensation in not-for-profit organizations (NFPs). Our sample consists of 105,400 observations from 15,412 unique organizations during 1992 to 2007. The results suggest that excess CEO compensation is negatively related to funding from government grants, government-paid program service revenues, and public donations. Excess CEO compensation is positively related to funding from investment income. Our findings generally support the view that the demand for monitoring by fund providers is associated with agency costs in NFP organizations.
JEL Classifications: D23; L31; M48.
Data Availability: The data used in this study are available from the National Center for Charitable Statistics.
Publisher
American Accounting Association
Reference43 articles.
1. Anheier, H. K.
2005. Nonprofit Organizations. London, U.K.: Routledge.
2. Managerial rewards and the behavior of for-profit, governmental, and nonprofit organizations: Evidence from the hospital industry;Ballou;Journal of Public Economics,2003
3. Hospital revenue sources reach dubious milestone;Betbeze;HealthLeaders Media,2013
4. Managerial incentives in nonprofit organizations: Evidence from hospitals;Brickley;The Journal of Law and Economics,2002
5. Brickley, J. A.,
R. L. Van Horn, and G. J. Wedig.
2003. Board Structure and Executive Compensation in Nonprofit Organizations: Evidence from Hospitals. Rochester, NY: University of Rochester.
Cited by
20 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献