Errors of Omission: Transparency and Disclosure of Trustee Conflicts of Interest at Leading Private Colleges and Universities in Massachusetts

Abstract:     
Provides an analysis of disclosures in fiscal years 2009 and 2010 by the 20 wealthiest private colleges in Massachusetts of their business relationships with firms affiliated with trustees. The study identifies widespread errors and omissions in reporting that raise questions about the quality of information provided by schools about potential conflicts of interest and the effectiveness of the current transparency system.

Number of Pages in PDF File: 16

Keywords: Endowments, Transparency, Disclosure, Higher Education, Conflicts of Interest, Fiduciary, Trustee, Stewardship

JEL Classification: D40, D63, D73, D80, D82, H71, I22, I20, L30, L31, L33

working papers series