Chapter

Does Governance Matter?

Edited by Sharon Osterand and William N. Goetzmann

in The Governance of Not-for-Profit Organizations

Published by University of Chicago Press

Published in print August 2003 | ISBN: 9780226297859
Published online February 2013 | e-ISBN: 9780226297866 | DOI: http://dx.doi.org/10.7208/chicago/9780226297866.003.0003
Does Governance Matter?

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This chapter explores the effect of governance structure on museum performance. It is particularly interested in whether the ownership structure of a museum influences the balance it strikes among competing constituents. The chapter discusses the ways in which serving popular audiences and serving a narrower elite group compete for museum attention. It examines the question of whether common and elite artistic tastes are connected, using time-series analysis of art prices and attendance at museums. The study finds striking differences in the performance of museums that are consistent with expectations about differences in institutional economic incentives.

Keywords: museum finances; governance structure; museum ownership; economic incentives

Chapter.  11772 words.  Illustrated.

Subjects: Financial Markets

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