We examine the impact of employing a female, versus a male, leader on future (t + 1) donations and operating margin using a sample of 4387 unique nonprofit organizations (NPOs) between 2011 and 2014. Using two-stage and matched sample designs, we find that NPOs headed by female leaders report higher future operating margins but lower future donations. We interpret these findings to mean that female leaders are more focused on fiscal responsibility than fundraising. We also find that female leaders with (...) past fundraising experience attenuate lower future donations, and at commercial nonprofits, female leaders with prior for-profit experience contribute to even higher operating margins. Moreover, while female leaders identified as the founder of the organization increase future donations, they have no effect on future operating margins. Collectively, the results of our study should increase nonprofit boards’ confidence in hiring female leaders thereby narrowing the gender disparity in leadership in the nonprofit sector. This study expands the extant literature by providing initial evidence on the effects of female leaders in NPOs thereby contributing to research exploring gender, diversity, management, and nonprofit executives. (shrink)

In the United States, the IRS now requires charities to publicly disclose any significant asset diversion, which is the theft or unauthorized use of assets, that the charity identifies during the year. We use this new disclosure to investigate whether strong governance reduces the likelihood of a charitable asset diversion. Specifically, for a sample of 1528 charities from 2008 to 2012, we simultaneously examine eleven measures of governance that capture four broad governance constructs: board monitoring, independence of key individuals, tone (...) at the top, and capital provider oversight. We find consistent evidence that good governance across all four constructs is negatively associated with the probability of an asset diversion. Of the eleven governance measures, our results indicate that monitoring by debt holders and government grantors, audits, and keeping managerial duties in-house are most strongly associated with lower incidence of fraud. Our results also indicate that the likelihood of a fraud is negatively associated with a board review of the Form 990, the existence of a conflict of interest policy, and the presence of restricted donations. In addition, we document that the likelihood of an asset diversion is negatively associated with program efficiency and positively associated with growth and organizational complexity. (shrink)

Using a dataset of corporate philanthropic gifts of $1 million or more, we examine the influence of corporate donors on the performance of recipient non-profit organizations. We find that corporate donors positively influence NPO performance, specifically in the form of higher revenues per employee, program ratios, and fundraising returns. We find little evidence that large foundation or individual donors similarly enhance organizational performance. In additional analysis, we find that large corporate donations matter when the corporation is more likely to have (...) influence over the recipient NPO. These findings suggest that corporate donors provide the monitoring and expertise needed to enhance organizational performance beyond simply providing funding to NPOs. Our results are robust to a two-stage model and propensity score matching to address endogeneity concerns. While prior research has examined the effect of corporate philanthropy on donor organization performance, we contribute to the literature by examining whether corporate philanthropy also improves recipient organization performance. (shrink)

Although it is a relatively new phenomenon, the most popular descriptions of post-truth operate within the boundaries of the classical dichotomy between emotion and reason that dates back to Plato’s Phaedrus: both, to some extent, view emotions as impediments to knowledge and our ability to live morally upstanding lives (248a-b). Post-truth, which is seen as a threat to reason, social cohesion, and fact-based knowledge claims, is either viewed as the outcome of the failure of our cognitive apparatus, or a consequence (...) of our unchecked thirst for stories that provoke dramatic feelings. From a feminist point of view, this should give us pause, since the arguments used to dismiss post-truth resemble those that dismissed women’s experiences and emotions as idiosyncratic or irrational. Have post-truth scholars been too hasty in their judgment of emotion-based knowledge claims? In this essay, I explore the transcendental role of emotion in its relationship to epistemic knowledge claims and argue that emotion should be given a more primordial status in the analysis of post-factuality. I do this by exploring the psychoanalytic and phenomenological analysis of affect, especially Sara Ahmed’s feminist phenomenology of embodiment. (shrink)

This paper is dedicated to a discussion of Gilles Deleuze’s Coldness and Cruelty and its special place in French Sade studies. In this text, Deleuze famously argues against the notion of ‘sadomasochism’ as a unity. Sadism and masochism are, on his view, two entirely separate and incompatible ways of making use of pain and suffering in perversion. What is less known about Deleuze’s text is that he argues, against the current in French philosophy, psychiatry, and even intuition, that the essence (...) of sadism is a kind of thinking rather than a pleasure in causing pain to others. In this essay, we try to make sense of the idea that the sadist, at heart, is a metaphysician who thinks by means of suffering and indifference. Our paper also addresses the related concern about how to account for the properly sexual nature of this metaphysical perversion. We argue that the sexuality of thinking is rooted in pre-genital sexual life as described by Freud in his Three Essays on the Theory of Sexuality. (shrink)

Prior work shows that capital market participants including investors, analysts, and managers are all impacted by the prevailing level of investor sentiment. We extend this line of work by investigating whether the effects of sentiment spill over into the nonprofit sector by affecting donors’ spending to support moral causes. While donors are driven by ethical, altruistic, and other utility-maximizing motives, it is unclear whether behavioral biases stemming from sentiment would influence donors’ decisions to give. We shed light on this issue (...) using a large industry-diverse panel of over 115 thousand organization-years from 2008 to 2016. Results indicate that nonprofit organizations receive less in stock-based donations and more in cash-based donations during periods of high investor sentiment. Our inquiry separately considers cash and stock-based donations because we expect, and find, that market-related sentiment impacts these types of contributions differently. Moreover, we find that these effects are stronger for organizations with large donors, who are more closely tied to the capital markets, and therefore more susceptible to investor sentiment, as well as charitable organizations, consistent with “tug-at-the-heartstrings” type appeals inducing more emotional donation response. Taken together, the results suggest that market-wide investor sentiment impacts nonprofit organizations and the effects vary in the cross-section. (shrink)

At a colloquium in Bonneval, Lacan criticized Merleau-Ponty for his inability to account for the unconscious. For this reason he concluded the latter’s philosophy was fundamentally incompatible with psychoanalysis. This argument set the tone for scholars who studied the relationship between phenomenology and psychoanalysis. J. B. Pontalis, for example, famously argues that Merleau-Ponty misuses the term unconscious. According to Pontalis, Merleau-Ponty equates the unconscious with a “horizon” of possible experience: a moment of experience that is currently in shadow but can (...) be brought to light.1 Psychoanalytic therapy does, in part, treat the unconscious as a territory that can be colonized by language... (shrink)