Governance and financial vulnerability of Nonprofit Organizationsan analysis of the NGDOs from Spain and the United Kingdom

Résumé

This doctoral dissertation analyzes the relationship between the board composition and the financial vulnerability of nonprofit organizations. For this purpose, the first chapter reviews the state of the art literature on governance in the nonprofit sector. The second and third chapters focus on an in-depth study of both the predictors of the financial vulnerability and the concept of vulnerability itself, proposing a multidimensional model for its definition. Finally, the fourth chapter contrasts the main hypothesis of the thesis, finding that there is no relationship between the board composition of the organization (in terms of size, independence, duality ceo/chairman, presence of founders and experience and knowledge of board members) and its financial vulnerability. The samples analyzed throughout the dissertation are composed by non-governmental development organizations (ngdos) from spain and the united kingdom.