01199nas a2200145   4500008004100000245008800041210006900129260000900198300001200207490000700219520072000226653001200946100002400958856007100982       2017                        eng d00aInternal Governance and Performance: Evidence From When External Discipline is Weak0 aInternal Governance and Performance Evidence From When External   c2017  a193-2160 v433 aThe effect of internal governance on performance is potentially economically significant but may be difficult to identify because of confounding external disciplinary mechanisms and the endogenous choice of internal governance. This study addresses those difficulties by using nonprofit hospitals as an economic environment with muted external disciplinary mechanisms and instrumenting for internal governance using governance spillovers of geographically local public firms. Using patient heart attack survival as a measure of performance, a one standard deviation increase in strength of internal governance reduces the probability of death by 0.89 percentage points after controlling for patient characteristics.10aFinance1 aKalodimos, Jonathan  uhttp://www.sciencedirect.com/science/article/pii/S0929119917300196