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Debt, investment and endowment accumulation: the case of not-for-profit hospitals

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  • Gentry, William M.

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  • 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.
  • Handle: RePEc:eee:jhecon:v:21:y:2002:i:5:p:845-872
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    1. Showalter, Dean M, 1995. "Oligopoly and Financial Structure: Comment," American Economic Review, American Economic Association, vol. 85(3), pages 647-653, June.
    2. Hansmann, Henry, 1990. "Why Do Universities Have Endowments?," The Journal of Legal Studies, University of Chicago Press, vol. 19(1), pages 3-42, January.
    3. Harris, Milton & Raviv, Artur, 1991. " The Theory of Capital Structure," Journal of Finance, American Finance Association, vol. 46(1), pages 297-355, March.
    4. Brander, James A. & Lewis, Tracy R., 1986. "Oligopoly and Financial Structure: The Limited Liability Effect," American Economic Review, American Economic Association, vol. 76(5), pages 956-970, December.
    5. Gershberg, Alec Ian & Grossman, Michael, 2001. "Competition and the Cost of Capital Revisited: Special Authorities and Underwriters in the Market for Tax-Exempt Hospital Bonds," National Tax Journal, National Tax Association, vol. 54(2), pages 255-280, June.
    6. Wedig, Gerard J & Hassan, Mahmud & Morrisey, Michael A, 1996. " Tax-Exempt Debt and the Capital Structure of Nonprofit Organizations: An Application to Hospitals," Journal of Finance, American Finance Association, vol. 51(4), pages 1247-1283, September.
    7. Calem, Paul S & Rizzo, John A, 1995. "Financing Constraints and Investment: New Evidence from Hospital Industry Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1002-1014, November.
    8. Sloan, Frank A. & Valvona, Joseph & Hassan, Mahmud & Morrisey, Michael A., 1988. "Cost of capital to the hospital sector," Journal of Health Economics, Elsevier, vol. 7(1), pages 25-45, March.
    9. Wedig, Gerard, et al, 1988. " Capital Structure, Ownership, and Capital Payment Policy: The Case of Hospitals," Journal of Finance, American Finance Association, vol. 43(1), pages 21-40, March.
    10. Sloan, Frank A, et al, 1990. "The Demise of Hospital Philanthropy," Economic Inquiry, Western Economic Association International, vol. 28(4), pages 725-743, October.
    11. Wedig, Gerard J & Hassan, Mahmud & Sloan, Frank A, 1989. "Hospital Investment Decisions and the Cost of Capital," The Journal of Business, University of Chicago Press, vol. 62(4), pages 517-537, October.
    12. Calem, Paul S. & Rizzo, John A., 1992. "Banks as information specialists: The case of hospital lending," Journal of Banking & Finance, Elsevier, vol. 16(6), pages 1123-1141, December.
    13. Mahmud Hassan & Gerard Wedig & Michael Morrisey, 2000. "Charity Care by Non-profit Hospitals: The Price of Tax-exempt Debt," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 7(1), pages 47-62.
    14. Frank A. Sloan & Donald H. Taylor & Chris Conover, 2000. "Hospital Conversions Is the Purchase Price Too Low?," NBER Chapters,in: The Changing Hospital Industry: Comparing For-Profit and Not-for-Profit Institutions, pages 13-44 National Bureau of Economic Research, Inc.
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    Cited by:

    1. Harvey S. Rosen & Alexander J.W. Sappington, 2016. "To Borrow or Not to Borrow? An Analysis of University Leverage Decisions," Working Papers 249, Princeton University, Department of Economics, Center for Economic Policy Studies..
    2. Merle Erickson & Austan Goolsbee & Edward Maydew, 2002. "How Prevalent is Tax Arbitrage? Evidence from the Market for Municipal Bonds," NBER Working Papers 9105, National Bureau of Economic Research, Inc.
    3. Poterba, James M. & Verdugo, Arturo Ramírez, 2011. "Portfolio Substitution and the Revenue Cost of the Federal Income Tax Exemption for State and Local Government Bonds," National Tax Journal, National Tax Association, vol. 64(2), pages 591-613, June.
    4. Core, John E. & Guay, Wayne R. & Verdi, Rodrigo S., 2006. "Agency problems of excess endowment holdings in not-for-profit firms," Journal of Accounting and Economics, Elsevier, vol. 41(3), pages 307-333, September.
    5. Jill R. Horwitz, 2005. "Does Corporate Ownership Matter? Service Provision in the Hospital Industry," NBER Working Papers 11376, National Bureau of Economic Research, Inc.
    6. Rosen, Harvey S. & Sappington, Alexander J.W., 2016. "To borrow or not to borrow? An analysis of university leverage decisions," Research in Economics, Elsevier, vol. 70(1), pages 170-185.
    7. Harvey S. Rosen & Alexander J. W. Sappington, 2016. "To Borrow or Not to Borrow? An Analysis of University Leverage Decisions," NBER Working Papers 21951, National Bureau of Economic Research, Inc.
    8. Alessandro Fedele & Raffaele Miniaci, 2017. "Stakeholder Orientation and Capital Structure in the Social Care Sector," BEMPS - Bozen Economics & Management Paper Series BEMPS40, Faculty of Economics and Management at the Free University of Bozen.
    9. Erickson, Merle & Goolsbee, Austan & Maydew, Edward, 2003. "How Prevalent Is Tax Arbitrage? Evidence From the Market for Municipal Bonds," National Tax Journal, National Tax Association, vol. 56(1), pages 259-270, March.

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