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Economics and Management of Networks - Franchising, Strategic Alliances, and Cooperatives (Paperback, 2007 ed.)
Loot Price: R3,071
Discovery Miles 30 710
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Economics and Management of Networks - Franchising, Strategic Alliances, and Cooperatives (Paperback, 2007 ed.)
Series: Contributions to Management Science
Expected to ship within 10 - 15 working days
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Previous research on the institutional structure of franchising
networks (Bri- ley et al. 1991; Lutz 1995; Shane 1998; Lafontaine
and Shaw 1999, 2005; - fuso 2002; Penard et al. 2003a, b) does not
explain the governance structure of the franchising firm as an
institutional entity that consists of two interrelated parts:
Residual decision rights and ownership rights. The latter includes
not only residual income rights of franchised outlets but also
residual income rights of franchisor-owned outlets. Previous
studies primarily examines the incentive, signalling and screening
effects of fees, royalties and other contractual pro- sions from
the point of view of organizational economics (see Dnes 1996 for a
review) without taking into account the interactions between
residual decision and residual income rights as interrelated parts
of the governance structure. This paper fills this gap in the
literature. According to the property rights view, de- sion rights
should be allocated according to the distribution of intangible
kno- edge assets between the franchisor and franchisee and
ownership rights should be assigned according to the residual
decision rights. Since ownership rights are diluted in franchising
networks, the dilution of residual income rights of fr- chised
outlets is compensated by residual income rights of company-owned
o- lets. Under a dual ownership structure, company-owned outlets
compensate the disincentive effect of low royalties for the
franchisor, and low royalties strengthen the investment incentives
for the franchisee
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