Determinants of Nonprofit Board Size and Composition The Case of Spanish Foundations

Pablo de Andr‚s Alonso, Valent¡n Azofra Palenzuela () and M¦ Elena Romero Merino ()
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Valent¡n Azofra Palenzuela: Departamento de Econom¡a Financiera y Contabilidad, Facultad de Ciencias Econ¢micas y Empresariales, Universidad de Valladolid
M¦ Elena Romero Merino: Departamento de Econom¡a Financiera y Contabilidad, Facultad de Ciencias Econ¢micas y Empresariales, Universidad de Valladolid

No 2006-15, Working Papers "New Trends on Business Administration". Documentos de Trabajo "Nuevas Tendencias en Dirección de Empresas". from Interuniversity Research Master and Doctorate Program (with a quality mention of ANECA) on "Business Economics", Universities of Valladolid, Burgos, Salamanca and León (Spain). Until 2008, Interuniversity Doctorate Program (with a quality mention of ANECA) “New trends in Business Administration”, Universities of Valladolid, Burgos, and Salamanca (Spain). Master en Investigación y Programa de Doctorado Interuniversitarios (con mención de calidad de la ANECA) en "Economía de la Empresa", Universidades de Valladolid, Burgos, Salamanca y León (España). Hasta 2008, Programa de Doctorado Interuniversitario (con mención de calidad de la ANECA) “Nuevas Tendencias en Dirección de Empresas”, Universidades de Valladolid, Burgos y Salamanca (España).

Abstract: Recently, many empirical studies have shed light on the determinants of boards of directors. Our aim in this paper goes far from the corporate setting. We explain how nonprofits boards are structured. As opposed to corporations? goals, the objectives of nonprofits are non-lucrative. They can not disburse profits to their contributors, but the role played by their boards of trustees in monitoring and advising managers is analogous to that of boards of directors. Using a sample of Spanish foundations, we show that nonprofit board determinants, such as organizational complexity and financing structure, are mostly similar to those of corporate boards. Nonprofit age, however, illustrates the different nature of these organizations and their voluntary boards.

Keywords: Nonprofit Governance; Board of Trustees; Foundations; Efficiency. (search for similar items in EconPapers)
Pages: 24 pages
Date: 2006-12
New Economics Papers: this item is included in nep-bec and nep-soc
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