This paper investigates the critical role of effective governance in shaping the strategies of grant-giving foundations. It examines how governance mechanisms influence decision-making and resource allocation within philanthropic organizations, particularly concerning their support for public interest activities. Drawing on data from 112 large Italian foundations, the study highlights the significance of active boards in identifying public needs and making sound investment decisions, in contrast to inert boards that may pursue private agendas. The research emphasizes that in the non-profit sector,."
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