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Determinantes de la intensidad franquiciadora: un enfoque de agencia

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Abstract

This article studies, from an agency perspective, the factors that explain the franchisor decision to integrate versus franchise its outlets. The analysis of a sample of Spanish franchise networks shows that franchising is more likely when: a) the costs of inefficient risk allocation between agent and principal are low, b) agent effort is a key success factor, and c) it is difficult to control the opportunistic behaviour of the agent. Furthermore, the importance of franchisor effort seems to affect negatively to the percentage of franchised outlets.

Suggested Citation

  • Narciso Perales & Luis Vázquez, 2003. "Determinantes de la intensidad franquiciadora: un enfoque de agencia," Investigaciones Economicas, Fundación SEPI, vol. 27(1), pages 151-172, January.
  • Handle: RePEc:iec:inveco:v:27:y:2003:i:1:p:151-172
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    Cited by:

    1. Gonzalez-Diaz, Manuel & Solis-Rodriguez, Vanesa, 2012. "Why do entrepreneurs use franchising as a financial tool? An agency explanation," Journal of Business Venturing, Elsevier, vol. 27(3), pages 325-341.
    2. Vicente Safón & Alejandro Escribá-Esteve, 2011. "Antecedents and consequences of external risk perception in franchising: evidence from the hospitality industry," Service Business, Springer;Pan-Pacific Business Association, vol. 5(3), pages 237-257, September.

    More about this item

    Keywords

    Franchising; vertical integration; distribution; agency theory;

    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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