Joint Ventures between Nonprofit and For-Profit Organizations
研究了允许非营利组织与营利组织组建合资企业的后果，分析了三种税收制度下的利润分享规则、产出决策和组织形式选择，发现合资企业既能通过降低生产成本创造社会效益，也可能因减少竞争而损害社会福利。
This paper examines the consequences of allowing a nonprofit organization to form a joint venture with a for-profit organization. Three tax regimes are considered: prohibiting all such joint ventures, allowing all such joint ventures, and restricting joint ventures between nonprofit and for-profit entities to those controlled by the nonprofit organization. The paper derives the equilibrium profit-sharing rule, output decision, and organizational form choice under each tax regime. Joint ventures can create both private and social benefits by reducing production costs. They can also create private benefits and social costs by reducing competition. Prohibitions or restrictions on joint ventures can either increase or decrease social welfare depending on whether the production cost effect or the competition effect is more important.