Nonprofit organizations (NPOs) are increasingly required to become (more) effective. This review summarizes and integrates the results of studies focusing on NPOs’ governance effectiveness. It proposes an extension of stakeholder theory to NPOs concerning governance involving diverse...

Should the beneficiaries of nonprofit organizations (NPOs) be involved in governance and policy-making and, if so, how? The authors review existing knowledge on the role of beneficiaries in organizational governance and describe an integrative framework based on institutional theory, resource...

Business groups have the potential both to offer benefits to member companies, and to destroy value. A number of studies find that group affiliation creates value for companies in emerging markets like Chile, India, Korea and Turkey. This raises the question whether business groups can also...

The paper investigates the effect of four differently framed payment contracts on the agent's effort provision and performance in a real effort experiment. The four incentive payments are framed as a base wage and bonuses (one immediately pays bonuses, the other only after an initial...

We provide a hidden-action principal-agent model where the agent has referencedependent preferences. The loss-averse agent considers the base wage as reference point, and bonuses and/or penalties as gains and losses, respectively. When choosing optimal payments, the principal strategically sets...

Nonprofit organizations are traditionally assumed to dislike commercial activities. In the USA, they are however allowed to engage in commercial activities, but the income they derive from these activities is then subject to the so-called 'unrelated business income tax'. If NPOs do indeed...

Corporate groups are found all around the world but their scopes, goals and effects might be very divergent. In this paper, we overview the existing international literature on corporate groups, and furthermore we pay special attention to European and Belgian corporate groups, where the presence...