We study the relation between board size and managerial incentives in non-profit firms. We present a model where board membership is granted to parties that wish to direct the manager's actions in exchange for assets that they bring within the firm. These board members (directors) differ in the...

This study examines whether and how multiple managerial entrenchment devices within a firm, specifically the structure of the board of directors and family firm status, interact to influence tax management. Using a sample of 4,000 U.S. public firm-year observations covering the period...