کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5078361 1477348 2010 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Explaining unrestricted giving by charitable foundations: A transaction cost approach
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Explaining unrestricted giving by charitable foundations: A transaction cost approach
چکیده انگلیسی
This paper extends a transaction costs framework to the nonprofit sector where information asymmetries are typically acute. I explore the decision of charitable foundations to place material restrictions on grants to nonprofits. Foundations often place constraints on grant use to limit cross-subsidy of projects or ex-post opportunism by nonprofit managers. In contrast, nonprofits prefer fewer restrictions to smooth income across revenue streams or compensate for shifts in demand. The paper utilizes a pseudo panel of 6000 grant contracts to examine the relationship between the various costs of those restrictions and the observed characteristics of grant contracts. Empirical results confirm received theory that high contracting costs will reduce the probability of grant restrictions.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Journal of Industrial Organization - Volume 28, Issue 1, January 2010, Pages 44-53
نویسندگان
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