Finding
The ranking between nonprofit firms and the social optima, however, is less clear.
Paper
Research by Not-for-Profit Enterprises
Abstract
This paper focuses on the research behavior of nonprofit firms. In particular, we model process innovation and compare equilibrium research spending under alternate objectives to outcomes under profit-maximization. Do profit-maximizing organizations spend more on research than nonprofit firms? We find that the nonprofit research spending exceeds the profit-maximizing levels. The ranking between nonprofit firms and the social optima, however, is less clear. Policy implications are discussed.
Authors
R. Goel
Journal
The Journal of Technology Transfer
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