| 000 | 02350cam a22003377 4500 | ||
|---|---|---|---|
| 001 | w5585 | ||
| 003 | NBER | ||
| 005 | 20211020114134.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s1996 mau fo 000 0 eng d | ||
| 100 | 1 |
_aLafontaine, Francine. _914757 |
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| 245 | 1 | 4 |
_aThe Dynamics of Franchise Contracting: _bEvidence from Panel Data / _cFrancine Lafontaine, Kathryn L. Shaw. |
| 260 |
_aCambridge, Mass. _bNational Bureau of Economic Research _c1996. |
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| 300 |
_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w5585 |
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| 500 | _aMay 1996. | ||
| 520 | 3 | _aIn this paper, we model the determinants of franchise contract terms, namely royalty rates and franchise fees, using a unique panel data set of about 1000 franchisors for the period 1980-1992. We focus on the extent to which firms adjust the terms of their contracts as they become better established, and find that adjustment is relatively infrequent and that firms do not systematically raise or lower their royalty rates or franchise fees when they do adjust them. These results tend to refute a number of existing theories of franchising that are based on risk-sharing, asymmetric information, and certain incentive structures, but support those based on franchisor opportunism and to some extent double-sided moral hazard. Our results also suggest that when industrial organization economists do not have access to panel data, their work may well suffer from the omitted variable bias caused by unobserved firm effects. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aL14 - Transactional Relationships • Contracts and Reputation • Networks _2Journal of Economic Literature class. |
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| 690 | 7 |
_aL20 - General _2Journal of Economic Literature class. |
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| 700 | 1 |
_aShaw, Kathryn L. _920637 |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w5585. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w5585 |
| 856 |
_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w5585 |
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| 942 |
_2ddc _cW-PAPER |
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_c342740 _d301302 |
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