“…Due to a rising number of chief executive officer (CEO) scandals and alleged wrongdoings, AT has become increasingly important to explaining a board's monitoring role (see also Cardinaels, 2009). Specifically, while the passage of the Sarbanes-Oxley act applies only to corporate entities, various scandals in the healthcare industry have raised increasing concerns that NPHCOs have not provided sufficient oversight over the quality care decisions of their CEOs (Cardinaels, 2009;Erwin et al, 2019;Jha and Epstein, 2010;Kane et al, 2009;Rosenbaum and Margulies, 2011). This call for greater oversight stems from a basic agency problem in which the manager or agent acts against the interests of his/her principal shareholders (Cardinaels, 2009;Chambers et al, 2017;Dalton et al, 2007;Erwin et al, 2019;Jensen and Meckling, 1976).…”