This paper examines the staffing, division of labor, and resulting profitability of primary care physician practices. Division of labor is viewed as a mechanism to increase the efficiency of production processes through specialization. At the same time, division of labor also introduces...

This study uses data from hospitals to test the hypothesis that management representation on nonprofit boards leads to "excessive" CEO pay, defined as compensation that exceeds the level predicted by a market wage model. We document a relatively small, but statistically significant, positive...

This paper examines the incentives of CEOs in a large sample of nonprofit hospitals. The evidence suggests that the relations between financial performance (return on assets) and CEO turnover and compensation are as strong in nonprofit hospitals as in for-profit hospitals and other for-profit...

This study provides evidence on the determinants of contract duration using a large sample of franchise contracts. We find that the term of the contract systematically increases with the franchisee's physical and human capital investments, measures of recontracting costs, and the franchisor's...

This paper examines the incentives of CEOs in not-for-profit institutions to engage in earnings management. We predict and find that, with one exception, this different setting induces CEOs to engage in patterns of earnings management that are similar to those of their for-profit counterparts....