The Dynamics of Franchise Contracting: Evidence from Panel Data
Опубликовано на портале: 12-07-2007
Journal of Political Economy. 2007. Vol. 107. No. 5. P. 1041-1080.
We find that there is much persistence, over time, in franchise contract terms within firms. We find this despite sizable across-firm differences in royalty rates and franchise fees. In addition, franchisors do not systematically increase or decrease their royalty rates or franchise fees as they become better established, contrary to predictions from some specific theoretical models. We conclude that variation in contract terms is mostly determined by differences across firms, not by within-firm changes over time. Finally, we find no negative relationship, within firms, between up-front franchise fees and royalty rates.
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