Notes
1 William J. Baumol and William G. Bowen, Performing Arts: The Economic Dilemma, Cambridge, Massachusetts: MIT Press, 1966.
2 Michael C. Jensen and William H. Meckling, “Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure,” Journal of Financial Economics, vol. 3, no. 4, October 1976.
3 Originally in Jay Barney, “Firm Resources and Sustained Competitive Advantage,” Journal of Management, vol. 17, no. 1, 1991.
Roland J. Kushner is a professor of business and program coordinator for the master’s in organizational leadership at Muhlenberg College in Allentown, Pennsylvania. He researches nonprofit governance and the role of arts and culture in the economy and is a board member of the Martin Guitar Charitable Foundation. Earlier in his career, he was managing director of Bethlehem Musikfest, development director of the Bach Choir of Bethlehem, interim executive director of WDIY-FM, board president of New Bethany Ministries, and director of Kushner Management Advisory Services.
The author thanks Rikki Abzug, Arthur Brooks, Joanna Brody, Will Brown, the late Jeff Brudney, Thad Calabrese, Richard Crist, Mark Hager, David Hinrichs, Ellen Rackas, Marc Rittle, Mike Stershic, Todd A. Watkins, and Dennis Young for comments on earlier versions.