This article develops an executive compensation model focusing on board governance structure in nonprofit organizations. Drawn from a panel of nonprofits in three Upstate New York cities from 1998 to 2014, the analysis shows that chief executive officers (CEOs) compensation is positively associated with interlocking directorships of CEOs and boards of directors. The results reveal that the executives enjoy more compensation when they serve on the boards of other nonprofit organizations, hold more power in a leadership position with CEO duality and longer tenure, and when the organizations are led by busy boards where a majority of members in the boardroom sit on the boards of multiple other nonprofits. The analysis further shows that financial rewards offered to the executives are contingent upon women’s representation in the boardroom. These findings suggest board governance composition plays a critical role in executive compensation. Implications for practice and future research are discussed.

中文翻译：

---

非营利组织董事会治理有多重要？相互关联的董事会、行政权力和董事会中的女性在高管薪酬中的作用

本文开发了一种专注于非营利组织董事会治理结构的高管薪酬模型。根据 1998 年至 2014 年纽约州北部三个城市的非营利组织小组的分析结果，首席执行官 (CEO) 的薪酬与 CEO 和董事会的相互关联的董事职位呈正相关。结果显示，当高管在其他非营利组织的董事会任职、在首席执行官双重身份和任期较长的领导职位上拥有更大的权力，以及当组织由繁忙的董事会领导且大多数成员为董事会成员是多个其他非营利组织的董事会成员。分析进一步表明，向高管提供的经济奖励取决于女性在董事会中的代表人数。这些发现表明，董事会治理结构在高管薪酬中发挥着关键作用。讨论了对实践和未来研究的影响。