Managerial discretion, incentives and governance rules for non-profit organizations
This paper analyzes the effects of managerial discretion and some possible solutions in non-profit sector. It is shown how the traditional incentives’ mechanisms are modified in a non-profit setting. In particular, market, reputational and ideological incentives are considered. The analysis highlights that new governance rules are necessary. In this context a new financial model is analyzed where the competition between for-profit and non-profit firms is extended from the products level to that of private financing.
|Date of creation:||2003|
|Date of revision:|
|Publication status:||Published in Journal of Public Finance and Public Choice 1.21(2003): pp. 47-62|
|Contact details of provider:|| Postal: |
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- Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 327-49, June.
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