Agency problems of excess endowment holdings in not-for-profit firms
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
- Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
- Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
- Marianne Bertrand & Sendhil Mullainathan, 2003.
"Enjoying the Quiet Life? Corporate Governance and Managerial Preferences,"
Journal of Political Economy,
University of Chicago Press, vol. 111(5), pages 1043-1075, October.
- Bertrand, Marianne & Mullainathan, Sendhil, 2003. "Enjoying the Quiet Life? Corporate Governance and Managerial Preferences," Scholarly Articles 3429713, Harvard University Department of Economics.
- Hansmann, Henry, 1990. "Why Do Universities Have Endowments?," The Journal of Legal Studies, University of Chicago Press, pages 3-42.
- White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
- Posnett, John & Sandler, Todd, 1989.
"Demand for charity donations in private non-profit markets : The case of the U.K,"
Journal of Public Economics,
Elsevier, pages 187-200.
- Lewis, T.R. & Ware, R. & Feenstra, R., 1988. "Eliminating Price Supports: A Political Economy Perspective," Papers 319, California Davis - Institute of Governmental Affairs.
- Opler, Tim & Pinkowitz, Lee & Stulz, Rene & Williamson, Rohan, 1999.
"The determinants and implications of corporate cash holdings,"
Journal of Financial Economics,
Elsevier, vol. 52(1), pages 3-46, April.
- Tim Opler & Lee Pinkowitz & Rene Stulz & Rohan Williamson, 1997. "The Determinants and Implications of Corporate Cash Holdings," NBER Working Papers 6234, National Bureau of Economic Research, Inc.
- Blanchard, Olivier Jean & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 1994. "What do firms do with cash windfalls?," Journal of Financial Economics, Elsevier, vol. 36(3), pages 337-360, December.
- Jarrad Harford, 1999. "Corporate Cash Reserves and Acquisitions," Journal of Finance, American Finance Association, vol. 54(6), pages 1969-1997, December.
- Gentry, William M., 2002. "Debt, investment and endowment accumulation: the case of not-for-profit hospitals," Journal of Health Economics, Elsevier, vol. 21(5), pages 845-872, September.
- Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, pages 323-329.
- Mihir A. Desai & Robert J. Yetman, 2005. "Constraining Managers without Owners: Governance of the Not-for-Profit Enterprise," NBER Working Papers 11140, National Bureau of Economic Research, Inc.
CitationsCitations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
- Joseph Hughes, 2013.
"A New Cost Efficiency Measure for Not-for-Profit Firms: Evidence of a Link Between Inefficiency and Large Endowments,"
Atlantic Economic Journal,
Springer;International Atlantic Economic Society, pages 279-300.
- Joseph P. Hughes, 2011. "A New Cost Efficiency Measure For Not-For-Profit Firms: Evidence Of A Link Between Inefficiency And Large Endowments," Departmental Working Papers 201129, Rutgers University, Department of Economics.
- Bolton, Patrick & Mehran, Hamid, 2006. "An introduction to the governance and taxation of not-for-profit organizations," Journal of Accounting and Economics, Elsevier, vol. 41(3), pages 293-305, September.
- Jeffrey R. Brown & Stephen G. Dimmock & Jun-Koo Kang & Scott J. Weisbenner, 2014.
"How University Endowments Respond to Financial Market Shocks: Evidence and Implications,"
American Economic Review,
American Economic Association, pages 931-962.
- Jeffrey Brown & Stephen G. Dimmock & Jun-Koo Kang & Scott Weisbenner, 2010. "How University Endowments Respond to Financial Market Shocks: Evidence and Implications," NBER Working Papers 15861, National Bureau of Economic Research, Inc.
- Bengtsson, Ola & Hand, John R.M., 2011. "CEO compensation in venture-backed firms," Journal of Business Venturing, Elsevier, vol. 26(4), pages 391-411, July.
- Hanlon, Michelle & Lester, Rebecca & Verdi, Rodrigo, 2015. "The effect of repatriation tax costs on U.S. multinational investment," Journal of Financial Economics, Elsevier, vol. 116(1), pages 179-196.
- Newton, Ashley N., 2015. "Executive compensation, organizational performance, and governance quality in the absence of owners," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 195-222.
- Aggarwal, Rajesh K. & Evans, Mark E. & Nanda, Dhananjay, 2012. "Nonprofit boards: Size, performance and managerial incentives," Journal of Accounting and Economics, Elsevier, pages 466-487.
- Bae, Kee-Hong & Kim, Seung-Bo & Kim, Woochan, 2012. "Family control and expropriation at not-for-profit organizations: evidence from korean private universities," MPRA Paper 44029, University Library of Munich, Germany.
- Chen, Yangyang & Murgulov, Zoltan & Rhee, S. Ghon & Veeraraghavan, Madhu, 2016.
"Religious beliefs and local government financing, investment, and cash holding decisions,"
Journal of Empirical Finance,
Elsevier, pages 258-271.
- Salem Boubakri & Cécile Couharde & Hélène Raymond, 2016. "Effects of financial turmoil on financial integration and risk premia in emerging markets," Post-Print hal-01386052, HAL.
More about this item
StatisticsAccess and download statistics
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jaecon:v:41:y:2006:i:3:p:307-333. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/jae .