It is sometimes argued in the corporate governance literature that the total share of corporate value that can be extracted by a manager is fixed and independent of the avenues through which value is extracted. Shareholders need not worry about an activity such as insider trading, the story goes, because any profits achieved by a manager through insider trading will simply offset conventional c...

Among the major forms of corporate ownership, the not-for-profit ownership form is distinct in its behavior, legal constraints, and moral obligations. A new empirical analysis of the American Hospital industry, using eleven years of data for all urban general hospitals in the country, shows that corporate form accounts for large differences in the provision of specific medical services. Not-for...

This paper theoretically studies the consequences of heterogeneity on self-governance, cooperation, and trust in large communities. I consider a game model where players belong to a large population and are randomly matched. Players interact with each other infrequently and, when matched, play a prisoners’ dilemma. There exists an institution that can convey information on play histories. Playe...

The concept of "industrial economic metabolism" can provide a bridge to better understanding between environmentalists and industry. In nature each individual or species reacts to natural stimuli, competing with others for resources, extending its domain until it loses comparative advantage and comes to equilibrium with an adjacent competitor. Those species that succeed over time flourish; thos...

A curious ownership structure is found in Northern Europe – foundations that own and operate business companies. The foundations are non-profit entities, they have no members and no owners, and they cannot be dissolved, but regard it as a goal in itself to run a business. In many cases these entities control more than 50% of the votes in successful international companies such as Carlsberg and ...

360 www.palgrave-journals.com/crr/ ABSTRACT Over the past decade or so, corporate image has become an essential strategy for many organizations. However, non-profit organizations have only recently adopted this strategy in order to better communicate with their stakeholders. The purpose of this case study is to trace the integrated marketing communication (IMC) strategy of the Magen David Adom ...

The aim of this research is to examine the role of state ownership in corporate governance and firm performance. We employed ordinary least squares and two-stage least squares regressions to analyze the effects of state ownership on firm performance. We go beyond existing research on state ownership by carefully disentangle investment objectives of state-controlled financial institutions. Such ...

Relative to other marketing tools (e.g., advertising, promotions, personal selling) corporate sponsorship is seldom discussed in the marketing literature. This is unfortunate because corporate sponsor relationships can be advantageous to both nonprofit organizations (NPOs) and profit seeking corporations (Hernandez-Murillo and Martinek 2009). NPOs are organizations that strive to provide goods ...

In light of the increased attention the IRS is paying to not-for-profit organizations, healthcare financial managers should stay alert to developments regarding: community benefit standard, executive compensation, corporate governance, transparency and form 990, political activity.