试析特许经营在我国饭店业中的应用

我国饭店业在迅猛发展的同时也面临着激烈的市场竞争和挑战,而我国饭店业分散零乱的整体格局使得其竞争力面临着严峻的考验。为此,已被国际饭店管理集团证实行之有效的特许经营成为我国饭店业发展的方向。结合我国饭店业发展的实际,是受具体国情及饭店业发展实际情况的限制,我国饭店业特许经营目前还处于初级阶段且发展缓慢。因此,推进特许经营在我国饭店业中的发展,实现我国饭店业快速整体走强,还需要做很多工作。     

The choice of master international franchising – A modified transaction cost model

This study develops and tests a novel transaction cost model of master international franchising. Based on data from international franchise firms headquartered in six countries, we show that master international franchising is the franchisor’s preferred governance mode under the following conditions: large bilateral franchisor’s and franchisees’ transaction-specific investments, high institutional uncertainty and high behavioral uncertainty. Our model extends the literature by presenting a modified transaction cost model of master international franchising that investigates the bonding effect of bilateral transaction-specific investments and environmental uncertainty as determinants of the franchisor’s choice of international governance mode. In addition, by using primary data from international franchise companies, our study contributes to the transaction cost literature in international business and international franchising that is mainly based on secondary data.     

Does franchising pay? Evidence from the restaurant industry

Franchising has taken a prominent position in service industries for several decades, but little is known about how franchising affects financial performance. Thus, we addressed the question of whether chains that franchise to some extent outperform those that are wholly owned. Then, among chains that franchise, we also addressed the question of whether more franchising is better – that is, whether the proportion of a chain's units that are franchised is associated with superior financial performance. To answer these questions, our study first compares the risk-adjusted performance of franchising vs. non-franchising restaurant firms. Second, it investigates the relationship between franchising propensity and firm financial performance. We considered five different measures of firm financial performance: the Sharpe ratio, the Treynor ratio, the Jensen index, the Sortino ratio, and the upside potential ratio. On comparison of franchising and wholly owned firms, all five measures indicated that franchising firms outperformed their non-franchising counterparts. When we focussed on just the franchising firms, however, the results were less clear. Among firms that franchise, the franchising–performance relationship was positive and significant only with respect to the Jensen index. Thus, we provide very robust evidence that franchising pays – that is, that some franchising is good – but among firms that franchise, it is unclear whether more franchising is better.     

A study on the key factors influencing international franchisors�� choice of entry modes into China

This paper examines factors associated with international franchising firms’ entry modes when they enter the Chinese market. To this end, a survey was conducted to investigate the linkage between entry modes and characteristics of franchising firms. The logit model and regression analysis were used to test the hypotheses. Findings reveal four factors that significantly influence international franchisors’ entry mode choices including cultural and geographic distance, international market experience, risk spreading, and maturity of the franchising system.     

Franchise,innovation and entrepreneurship

Since franchise business can be an alternative to independent business, it seems interesting to look at those factors that encourage individuals to choose franchise rather than independent business. It is also relevant to consider the role of innovation because it is generally accepted that independent business facilitates innovations to a greater degree than does franchise. The main goal of this paper is to determine the factors that encourage individuals to choose franchise activity and what role plays innovation in their decision.     

Trust and the tendency towards multi-unit franchising: A relational governance view

Previous research mainly focused on the agency-theoretical explanation of multi-unit franchising (MUF). The aim of this study is to develop a relational governance perspective of MUF by investigating the role of knowledge-based trust and general trust in franchisor's choice between multi-unit and single-unit franchising. Our data from the German franchise sector indicate that knowledge-based trust positively influences and general trust negatively influences the franchisor's tendency towards multi-unit franchising.     

Performance in franchising: the effects of different management styles

Various theoretical approaches uphold the relevance of the relationship between the form of management and performance. Different management styles influence the relationships of agencies [Jensen, M.C. (1998). Foundations of organizational strategy. Cambridge, MA: Harvard University Press], the cost of governing transactions [Williamson, O.E. (1985). The economics institutions of capitalism: Firms, markets, relational contracting. New York, NY: Free Press], and the allocation of resources between the exploitation and exploration of activities [March, J.G. (1991). Exploration and exploitation in organizational learning. Organization Science, 2(1), 71–87], and this is manifested in firm performance. In light of these assumptions, this article presents an empirical verification of the relationship between the management of franchises and their performance, examining how different styles of management on the part of franchisers over their franchisees have significant effects on the growth and profits of franchiser firms.     

Survival of new firms in the Brazilian franchising segment: an empirical study

This paper investigates the survival patterns of Brazilian franchising firms for the period 1994–1999. First, we considered the (percentage) survival of newly created franchisors in the following years. Survival functions were obtained by means of the Kaplan–Meier estimator for the selected sectors and they indicated sharp declines in the survival rates over time but with differential patterns across sectors. Finally, an econometric analysis based on the Cox proportional hazard model considered the explanatory variables pertaining to size, age and support regarding the legal aspects, location choice and training. The evidence indicates that the supports provided by the franchisor have a positive impact on the probability of survival of new firms, whereas there is partial evidence favoring a positive effect of firm size on survival.