F Lafontaine - The RAND Journal of Economics, 1992 - JSTOR
This article provides an empirical assessment of various agency-theoretic explanations for
franchising, including risk sharing, one-sided moral hazard, and two-sided moral hazard.
The empirical models use proxies for factors such as risk, moral hazard, and franchisors' ...
S Bhattacharyya… - The Rand Journal of Economics, 1995 - JSTOR
Contractual arrangements involving revenue/profit sharing are often based on fairly simple,
often linear, rules. In addition, in many contexts these contracts are not finely adjusted to the
particular circumstances of individual agents or markets, nor do they vary over time to the ...
F Lafontaine… - Journal of Economic Literature, 2007 - JSTOR
Since Ronald H. Coase's (1937) seminal paper, a rich set of theories has been developed
that deal with firm boundaries in vertical or input—output structures. In the last twenty-five
years, empirical evidence that can shed light on those theories also has been ...
F Lafontaine… - Journal of Political Economy, 1999 - JSTOR
This paper provides the first systematic evidence on how franchi-sors adjust their royalty
rates and franchise fees as they gain fran-chising experience. This evidence comes from a
unique panel data set that we assembled on these monetary contract terms for about ...
PJ Kaufmann… - JL & Econ., 1994 - HeinOnline
Abstract The main purpose of this article is to establish empirically, using financial data, that
there are both ex ante and ex post rents left downstream at McDonald's. We find that the
present value of the ex ante rents is around $300 K-$455 K 1982 dollars. Ex post rents are ...
F Lafontaine… - The Journal of Industrial Economics, 1997 - Wiley Online Library
2. Abstract We summarize a number of regularities that arise in the empirical literature on
contractual relationships between manufacturers and their exclusive resellers. We do this
using studies of traditional and business-format-franchise relationships, as well as studies ...
F Lafontaine… - Journal of Retailing, 1994 - Elsevier
Abstract Two sets of competing theories have been proposed to explain the existence of
franchising; one set based on resource constraints and another on incentives issues. As
individual franchise systems mature, these theories predict different patterns in the ...
RD Blair… - 2010 - books.google.com
This book describes in much detail both how and why franchising works. It also analyses the
economic tensions that contribute to conflict in the franchisor-frnachisee relationship. The
treatment includes a great deal of empirical evidence on franchising, its importance in ...
F Lafontaine - JL Econ. & Org., 1993 - HeinOnline
In the presence of asymmetric information, the notion that firms may use a variety of
instruments to provide relevant information about themselves or their product is now well
established in industrial organization. For example, pricing, advertising, and warranty ...
F Lafontaine… - RAND Journal of Economics, 2005 - JSTOR
Franchisors simultaneously operate outlets under two distinct incentive schemes:
franchising and company ownership. Using an extensive panel dataset, we show that
experienced franchisors maintain a stable level of corporate ownership over time. ...
F Lafontaine… - Game Theory and Business Applications, 2002 - Springer
The modern theory of the internal organization of firms—the ownership, management, and
structure of production—has its roots in the writings of Knight (1921) and Coase (1937).
Knight emphasized the role of risk and uncertainty and the need to insure workers and ...
F Lafontaine… - Journal of Corporate Finance, 1995 - Elsevier
The empirical literature on franchising suggests that the proportion of risk borne by
franchisees increases as the amount of risk to be shared goes up. This has been interpreted
by some as evidence that franchisors use franchising as a way to “shed” risk. This paper ...
F Lafontaine… - Journal of Business Venturing, 1998 - Elsevier
Franchising has been and continues to be a very popular way to do business for a number
of retailers and service businesses. However, the type of franchising that has been growing
the most, namely business-format franchising, has not grown at the kind of phenomenal ...
F Lafontaine… - … of Antitrust Economics, Paolo Buccirossi (Ed …, 2005 - warwick.ac.uk
There is perhaps no aspect of competition policy that is as controversial or has been as
inconsistent over time and across jurisdictions as policy towards restraints between
upstream firms and their downstream retailers. Moreover, conflicting and changing legal ...
A Kalnins… - RAND Journal of Economics, 2004 - JSTOR
We use data on all the new restaurants opened in Texas between 1980 and 1995 by seven
of the largest nationally franchised fast-food chains to examine empirically the extent of multi-
unit ownership in franchised chains and the way in which franchisors allocate the ...
F Lafontaine… - 2001 - nber.org
Using an extensive longitudinal data set on franchising firms, we show that established
franchisors manage their portfolio of company and franchised units to maintain a particular
target level of corporate control and ownership of outlets. On average, established ...
F Lafontaine… - Economics Letters, 1986 - Elsevier
Abstract While the Wald test can be used to test a non-linear hypothesis in a linear or non-
linear regression model it is known that a particular hypothesis can be written in many ways
when non-linear forms are permitted. This paper illustrates that it is possible to obtain ...
F Lafontaine… - 2002 - nber.org
Much of the economic literature on franchising has been concerned with incentive issues
and how these are managed in franchised contracts. Two main types of incentive
mechanisms have been identified: residual claims and self enforcement. In this paper we ...
F Lafontaine - 1995 - nber.org
This paper examines empirical issues of pricing and price dispersion within franchised
restaurant and fast-food chains. Given the per se illegality of resale price maintenance
(RPM) under current US Antitrust laws, and the fact that franchised outlets are ...
F Lafontaine… - European Economic Review, 1996 - Elsevier
We reconcile seemingly conflicting hypotheses and evidence that surface in the principal-
agent literature. Specifically, we examine the literature that deals with the effect of costly
monitoring on retail-organizational form. Our principal-agent model of the optimal ...
F Lafontaine… - 2002 - nber.org
This paper considers functions of contracting other than the protection of relationship-
specific investments and the provision of marginal incentives, and applies the theory to
explain variation in the form of compensation of over-the-road truck drivers in the US ...
F Lafontaine - Journal of Business Venturing, 1999 - Elsevier
This paper uses data on the prices charged at fast-food restaurants in the metropolitan
Pittsburgh and Detroit areas to assess the effect of franchising on price dispersion within
chains in fairly narrowly defined geographical areas. A review of reasons why firms may ...
F Lafontaine… - 1996 - nber.org
In 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 ...
A Kalnins… - 1996 - nber.org
One empirical phenomenon that has received little attention in the franchising literature is
the tendency for individual franchisees to own not just one but several units of a given
franchised chain. Most current theories of franchising, based on incentives, information ...
F Lafontaine - Journal of Marketing Channels, 1995 - Taylor & Francis
This paper examines the most important sources of franchisor level data, namely the
Entrepreneur's''Annual Franchise 500''surveys, the Franchise Annual, the Franchise
Opportunities Handbooks and the Source Book of Franchise Opportunities. The paper ...
RD Blair… - Journal of Public Policy & Marketing, 1999 - JSTOR
In this article, the authors consider the economic consequences of State Oil v. Khan (1997)
for franchising. After discussing the evolution of antitrust policy regarding maximum resale
prices, they examine the economics behind franchisors' desire to impose price ceilings on ...
[CITATION] Kaufmann (1994),“The Evolution of Ownership Patterns in Franchise Systems,”
F Lafontaine… - Journal of Retailing
F Lafontaine… - 2008 - faculty.arts.ubc.ca
1 This paper will appear as chapter ?? in the Handbook of Organizational Economics, Princeton
University Press. We would like to thank the editors, Robert Gibbons and John Roberts, as well
as participants in workshops at the NBER, for helpful comments. We thank our respective ...
F Lafontaine… - Journal of Economics & Management …, 2004 - Wiley Online Library
1. The authors gratefully acknowledge financial support from the National Science
Foundation (NSF) under grant SBR-9312083 and from the University of Michigan Business
School for this research. We thank Bernard Yeung, Brian Silverman, David Leibsohn, two ...
R Kosová… - The Journal of Industrial Economics, 2010 - Wiley Online Library
KOSOVÁ, R. and LAFONTAINE, F.(2010), SURVIVAL AND GROWTH IN RETAIL AND
SERVICE INDUSTRIES: EVIDENCE FROM FRANCHISED CHAINS. The Journal of
Industrial Economics, 58: 542–578. doi: 10.1111/j. 1467-6451.2010. 00431. x
[CITATION] Incentive and Strategic Motives for Vertical Separation: evidence from location patterns in the Texan fast-food industry
A Kalnins… - 1997 - Mimeo, University of Michigan
F Lafontaine - GSIA Working Papers, 1990 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks. AN
EMPIRICAL LOOK AT FRANCHISE CONTRACTS AS SIGNALING DEVICES. Francine Lafontaine (). ...
F Lafontaine… - 2001 - nber.org
The contracting practices of franchisors outside of theirdomestic markets have received
limited attention in the empirical literature on franchising, mostly due to data limitations. We
exploit a newly assembled data set that allows us not only to describe the contracting ...
RD Blair… - Franchise LJ, 2006 - HeinOnline
Franchise lawyers know well the rules that govern franchise relationships. They know the
three elements that create a franchise relationship. They also know what they must include
within a Uniform Franchise Offering Circular to satisfy the FTC Rule and the registration ...
F Lafontaine… - University of Michigan Legal Working …, 2005 - law.bepress.com
Abstract This paper examines how the deregulation of the international road transport
industry in Western Europe has affected 1-the total quantity of cross-border road transport in
the region; 2-the degree to which shippers outsource rather than integrate vertically their ...
R Kosová, F Lafontaine… - Ann Arbor, 2011 - papers.ssrn.com
Abstract: We use a unique proprietary monthly panel data on the domestic operations of a
large hotel firm to study the effect of vertical integration decisions on the behavior (pricing)
and performance (occupancy rate and RevPar) of individual hotels. We find significant ...
[CITATION] The Role of Risk, Incentives, and Selection in Salesforce Compensation Contracts
D Lo, M Ghosh… - Unpublished paper, Ross School of Business, …, 2006
F Lafontaine… - 2009 - nber.org
According to Franchise Times, the 200 largest US-based franchise chains in 2004 operated
356,361 outlets and generated a total of 327,058 million US dollars in sales worldwide. Of
these, eighty-six were fast-food chains, operating a total of 180,772 outlets and generating ...
[CITATION] Myths and strengths of franchising
F Lafontaine - Financial Times, Mastering Strategy (Part Nine), …, 1999
[CITATION] Firm-specific effects in franchise contracting: sources and implications
F Lafontaine… - Proceedings of the 9th Conference of the International …, 1995
F Lafontaine… - Online: http://www. usc. edu/schools/business/ …, 2004 - Citeseer
Abstract This paper examines the factors that affect not only entry but also the subsequent
growth of retail chains within international markets. Specifically, we focus on McDonald's
expansion around the globe. Arguably, McDonald's has introduced the American concept ...
F Lafontaine… - American Economic Journal: …, 2009 - ingentaconnect.com
Abstract: We exploit a unique outlet-level dataset from a multinational chain with over 2,500
outlets in 43 countries to investigate the effects of labor regulations that protect employment.
The dataset contains information on output, materials, and labor costs at a weekly ...
R Gil… - American Law Economics Association Papers, 2007 - nber.org
Abstract This paper examines the nature of contracts in the movie exhibition industry, where
contracts are both movie and theater specific, and entail revenue-sharing terms that change
over time within the contract period and no fixed fees. We argue that the structure of these ...
[CITATION] The economics of franchising
Roger D.. Blair… - 2005 - Cambridge University Press
[CITATION] Empirical Assessment of Exclusive Contracts
F Lafontaine… - Handbook of Antitrust Economics, 2005
F Lafontaine… - Ross School of Business Paper, 2007 - nber.org
Abstract We investigate the microeconomic implications of labor regulations that protect
employment and are expected to increase rigidity in labor markets. We exploit a unique
outlet-level dataset obtained from a multi-national food chain operating about 2840 retail ...
[CITATION] A detailed look at owner-operator leases in the US truckload trucking industry
F Lafontaine - 2000 - mimeo, June
[CITATION] Concentration measures and the meaning of marketing stimuli
PW Henderson… - … paper, Washington State University, Richland, WA, 1996
[CITATION] Incentive Contracting and the Franchise Decision
L Francine… - 2001 - … of Game Theory, K. Chatterjee and …
[CITATION] Multi-unit ownership in franchising: Evidence from the Texan fast-food industry
A Kalnins… - Ann Arbor, 2001
[CITATION] Retail Pricing, Organizational Form, and the New Rule of Reason Approach to Maximum Resale Prices
F Lafontaine - 2001 - University of Michigan Business …
[CITATION] Residual claims and ongoing rent as incentive mechanisms in franchise contracts: complements or substitutes?
F Lafontaine, E Raynaud… - The …, 2002 - Cambridge University Press …
F Lafontaine - 1988 - circle.ubc.ca
Contractual arrangements have been the subject of a substantial body of economic
research. In particular, economists have sought an explanation for the existence of share
contracts. Under this kind of contract, two or more parties share in the output of the ...
[CITATION] Company Ownership over the Life Cycle: What can we Learn from Panel Data?
F LaFontaine… - 13 th Annual Society of Franchising Conference …, 1999
[CITATION] Double-sided moral hazard and franchising
S Bhattacharyya… - 1992 - Working paper
[CITATION] Risk in franchising: A look at some measurements issues
F Lafontaine - Society of Franchising Conference Proceedings, 1994
[CITATION] Incentive contracting and the franchise decision. K. Chatterjee, W. Samuelson, eds. Advances in Business Applications of Game Theory
F Lafontaine… - 1998 - Kluwer Academic Press, Boston ( …
F Lafontaine… - Entrepren. Bus. LJ, 2009 - litigation-essentials.lexisnexis.com
+ This paper relies heavily on various portions of our book, ROGER D. BLAIR & FRANCINE
LAFONTAINE, THE ECONOMICS OF FRANCHISING (2005), especially Chapters 1 to 3. In
many cases the data presented herein, however, have been updated. We thank Robert ...
F Lafontaine - GSIA Working Papers, 1988 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
CONTRACT THEORY AND FRANCHISING: SOME EMPIRICAL RESULTS. Francine Lafontaine (). ...
[CITATION] The Role of Sharing Contracts in Movie Exhibition
R Gil… - 2007 - mimeograph
[CITATION] 12/96 Expected Returns are Time Varying Accounting for Outward Direct Investment 12/96 from Hong Kong and Singapore: Who Controls What
FL Consumption… - The Characteristics of Multi-Unit Ownership
DL Belman, F Lafontaine… - 2005 - books.google.com
In contrast to the declining role, and employment, of blue-collar workers in many sectors of
the economy, truck drivers continue to play a central role in their firms and the trucking
industry. Despite technological and business innovation in the industry, a driver still is ...
[CITATION] nResidual Claims and Self% Enforcement as Incentive Mechanisms in Franchise Contracts: Substitutes or Complements? oIn The Economics of Contracts …
F Lafontaine… - E. Brousseau and J.% M. Glachant. Cambridge, 2002
S Masten… - 2002 - papers.ssrn.com
Abstract: This paper considers functions of contracting other than the protection of
relationship-specific investments and the provision of marginal incentives, and applies the
theory to explain variation in the form of compensation of over-the-road truck drivers in the ...
[CITATION] Agency Theory and Franchising: Some Empirical Results, 23 RAND J
F Lafontaine - Econ, 1992
[CITATION] Agency Theory and Franchising: Some Empirical Results, 23 RAND J. ECON. 263 (1992) and Contractual Arrangements as Signalling Devices: Evidence …
F Lafontaine - JL ECON. & ORG., 1993
[CITATION] Franchise contracting and organization
F Lafontaine - 2005 - Edward Elgar
F Lafontaine - Journal of Industrial Organization Education, 2006 - ideas.repec.org
< p> This lecture on vertical restraint is a transcript of a second-year MBA class at the
Stephen M. Ross School of Business, University of Michigan. At various points, student
comments and comments by Valerie Suslow, the co-teacher of this course, appear. ...
[CITATION] Franchising: Contemporary Issues and Research
F Lafontaine - PJ Kaufmann and RP Dant(Eds.) New York: The …, 1995
[CITATION] 0Agency Theory and Franchising: Some Empirical Results. 1 RAND Journal of Economics
F Lafontaine - 1992 - Summer
[CITATION] VThe Economics of FranchisingV Cambridge Uni& versity Press
R Blair… - 2005
[CITATION] The Dynamics of Franchising
F Lafontaine… - 1992 - Mimeo, Carnegie Mellon University
[CITATION] nExclusive Contracts and Vertical Restraints: Em% pirical Evidence and Public Policy. oForthcoming in Handbook of Antitrust Economics
F Lafontaine… - Cambridge: MIT Press
[CITATION] Forthcoming.“Within-firm Labor Productivity across Countries: A Case Study.”
F Lafontaine… - International Differences in the …
D Lo, M Ghosh… - Journal of Marketing Research, 2011 - Am Marketing Assoc
Abstract Designing compensation plans with an appropriate level of incentives is a key
decision faced by managers of direct sales forces. the authors use data on individual
salesperson compensation contracts to show that firms design their pay plans to both ...
R KOSOVA… - Economies et sociétés, 2011 - cat.inist.fr
Résumé/Abstract L'article s' appuie sur de nouvelles données recueillies et publiées par le
US Census Bureau pour mettre en perspective l'importance grandissante de la franchise
dans l'économie américaine depuis 2007. Ces analyses sont complétées par des ...
[CITATION] Too Far Away? Examining How Distance to Headquarters Hurts Business Establishment Performance
AT Kalnins… - 2010 - Mimeo, Cornell University
R Kosova… - 2005 - w4.stern.nyu.edu
Abstract This paper analyzes the survival and growth of franchised chains using an
unbalanced panel data set that covers about 1000 franchised chains each year from 1980 to
2001. The empirical literature on firm survival and growth has focused almost exclusively ...
F Lafontaine… - The Journal of Economic …, 2010 - ingentaconnect.com
Abstract: In fall 2008, General Motors and Chrysler were both on the brink of bankruptcy, and
Ford was not far behind. As the government stepped in and restructuring began, GM and
Chrysler announced their plan to terminate about 2,200 dealerships. In this paper, we first ...
R Kosová, F Lafontaine… - Ann Arbor - ftc.gov
Abstract How scale and scope affect firm performance, and implications for the boundaries
of the firm, are central questions in economics. Assessing these effects empirically, however,
has proved difficult. We argue that because franchised chains are fundamentally single- ...
F Lafontaine… - NBER Book Chapter, 2009 - papers.ssrn.com
According to Franchise Times, the 200 largest US-based franchise chains in 2004 operated
356,361 outlets and generated a total of 327,058 million US dollars in sales worldwide. Of
these, eighty-six were fast-food chains, operating a total of 180,772 outlets and generating ...
[CITATION] Papers from the Conference on Franchise Contracting, Organization, and Regulation: Which was Held at the University of Michigan School of Business …
F Lafontaine, SE Masten… - 1995 - Elsevier Science
F Lafontaine - Organization - degruyter.com
Abstract This lecture on vertical restraint is a transcript of a second-year MBA class at the
Stephen M. Ross School of Business, University of Michigan. At various points, student
comments and comments by Valerie Suslow, the co-teacher of this course, appear. ...
F Lafontaine - 2012 - rotman.utoronto.ca
ABSTRACT In the population of over 1.6 million Texan sales-tax collecting business
establishments, we show that greater distance to owner headquarters is associated with
shorter establishment longevity. For the lodging industry, where we have revenue data, ...
F Lafontaine, R Kosova… - 2009 - isapapers.pitt.edu
We use data on the largest US-based franchised chains, measured by worldwide sales, from
1998 to 2007, to explore scale and scope (or spillovers) effects. Because franchised chains
are fundamentally single-product or single-concept entities, we can distinguish scale from ...
A Kalnins… - 2007 - heinz.cmu.edu
Abstract Many firms do business in markets other than those where their headquarters are
located. Such firms include not only large multinationals and chain organizations, but also
those of smallbusiness entrepreneurs who found only one or a few outlets. Taking these ...
F Lafontaine… - law.umich.edu
Abstract This paper considers functions of contracting other than the protection of
relationship-specific investments and the provision of marginal incentives, and applies the
theory to explain variation in the form of compensation of over-the-road truck drivers in the ...
R Kosová… - International Journal of Industrial Organization, 2012 - Elsevier
Abstract We discuss recent research on the growth of chains in the retail and service sectors,
and point out the role of franchising in these industries, using new data on franchising
collected by the US Census Bureau. We then discuss several topics that one can analyze ...
F Lafontaine… - Game theory and business …, 2001 - books.google.com
The modern theory of the internal organization of firms—the ownership, management, and
structure of production—has its roots in the writings of Knight (1921) and Coase (1937).
Knight emphasized the role of risk and uncertainty and the need to insure workers and ...
[CITATION] Franchising Research: Legal Economic and Managerial Developments: Proceedings of the 12th Conference of the Society of Franchising, MGM Grand, …
F Lafontaine, J Stanworth… - 1998 - Institute for Franchise Management, …
R Kosová, F Lafontaine… - 2009 - csgb.ubc.ca
Abstract We use data on the largest US-based franchised chains, measured by worldwide
sales, from 1998 to 2007, to explore scale and scope (or spillovers) effects. Because
franchised chains are fundamentally single-product or single-concept entities that usually ...
F Lafontaine - 2009 - econ.missouri.edu
ABSTRACT In the population of over 1.6 million sales-tax collecting businesses founded in
Texas from 1990 to 2003, we show that distance to owner headquarters, and even distance
to previous owner HQ if applicable, are both associated with shorter establishment ...
R Kosova, F Lafontaine… - 2011 - papers.ssrn.com
Abstract: Estimating how scale and scope affect the performance of multi-product firms has
been a challenge. We argue that because franchised chains are fundamentally single-
product entities, we can use data on franchised chains and their parents to clearly ...
F Lafontaine… - International Differences in the …, 2009 - books.google.com
According to Franchise Times, the 200 largest US-based franchise chains in 2004 operated
356,361 outlets and generated a total of 327,058 million US dollars in sales worldwide. Of
these, eighty-six were fast-food chains, operating a total of 180,772 outlets and generating ...
M Ghosh… - 2011 - esnie.org
ABSTRACT Theory suggests that pay-for-performance incentives need to be aligned with
appropriate levels of delegation. Empirical research on the extent of delegation, and on the
relationship between delegation and pay-for-performance, remains scarce, however. We ...
[CITATION] Retail Contracting: Theory and Praxis
F Lafontaine, ME Slade… - 1996 - Universites d'Aix-Marseille II et III
R Gil… - 2009 - people.ucsc.edu
Abstract Movie exhibition contracts typically entail revenue-sharing terms that change over
time within the contract period, and no fixed fees. We argue that the structure of these
contracts is best explained by the distributors' desire to devise flexible prices to (i) obtain a ...
[CITATION] Winning Strategies for Franchising: Current Research and Future Directions: Proceedings of the 11th Conference of the Society of Franchising, Hilton at …
M Spriggs, F Lafontaine… - 1997 - Institute for Franchise Management, …
B Rosenbloom, JA Young… - Journal of Marketing …, 2011 - Taylor & Francis
Copyright© 2011 Taylor & Francis Group, LLC. All rights reserved. No part of this publication
may be reproduced, stored, transmitted, or disseminated in any form or by any means
without prior written permission from Taylor & Francis Group, LLC. Taylor & Francis Group, ...
F Lafontaine - Journal of Industrial Organization Education, 2007 - degruyter.com
This lecture on vertical restraint is a transcript of a second-year MBA class at the Stephen M.
Ross School of Business, University of Michigan. At various points, student comments and
comments by Valerie Suslow, the co-teacher of this course, appear. Accompanying this ...
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