This study investigates whether reliance on monetary donations alters nonprofit firms' behaviors. Specifically, in the hospice industry, shortening patients' length of stay (LOS) speeds turnover, allowing a hospice to serve more patients and expand its donation network. We measure hospices'...

This book proposes a new capital asset pricing model dubbed the ZCAPM that outperforms other popular models in empirical tests using US stock returns. The ZCAPM is derived from Fischer Black's well-known zero-beta CAPM, itself a more general form of the famous capital asset pricing model (CAPM)...