An Incomplete Contracting Model of Dual Distribution in Franchising

Dual distribution in franchising is addressed from an incomplete contracting perspective. We explicitly model cooperative (dual distribution) franchising as an organizational form, next to wholly-owned, wholly-franchised, and dual distribution franchise systems. Key conclusions of the model are: (1) dual distribution as an efficient governance mechanism does not depend on heterogeneous downstream outlets, and (2) whether dual distribution or some other organizational form is efficient depends on the size of the benefits to dual distribution relative to the parties’ costs of investing.     

The Determinants of Dual Distribution Revisited

This paper examines the use of what has been called “dual distribution” by firms. Dual distribution involves a firm using both company-owned stores and independently owned franchises to sell its product or service. Using panel data from 1048 companies for the years 2005 to 2009, I use a variety of estimators to determine the factors that influence the relative use of franchising by companies. A key focus of the paper is to control for the possible endogeneity of the franchise fee, royalty rate, and franchise ratio for the companies in the respective industries. Using a panel data estimator and lagged values of the franchise fee and royalty rate as instruments, I find that one reason the franchise fee and royalty rate do not appear to influence the relative use of franchising is due to industry- and firm-level fixed effects, which capture the variation in royalty rates and franchise fees at the company level.     

Monitoring Policy and Organizational Forms in Franchised Chains

Franchising is nowadays a prominent way to organize the distribution sector. While previous literature suggests that monitoring issues are a critical determinant of organizational choices, it is rather silent on the optimal monitoring strategy once the organization of the chain is set. In this article, we analyze the monitoring policy of chains with both franchised and company-owned units. We develop a model in which a chain monitors its outlets under asymmetric information on local demands and managers’ efforts. We show that partial monitoring (i.e., when the franchisor monitors only a subset of its outlets) represents an optimal monitoring policy. Second, we identify the units that should be monitored. Finally, we discuss the impact of information technologies and outlet location on monitoring policy and how it may affect the proportion of franchised and company-owned units within the mixed chains.     

Dual channels of distribution: a transaction cost analysis and propositions

The existence of dual or multiple channels of distribution consisting of independent distributors in combination with producer-owned distribution channels has been documented by several researchers, and some of them find indications that dual or multiple channels of distribution are likely to become more widespread in the future. This article briefly reviews the empirical studies on and theorizing about dual channels of distribution. Then mainstream transaction cost theory is explained and used to advance eleven propositions delimiting when dual channels of distribution are efficient. Most of the propositions are explained by differences in transaction-specific investments, uncertainty, transaction frequency and the institutional environment. The rest of the propositions are based on synergistic explanations such as dual systems induce competition, they result in higher powered incentives, and they provide better information.     

流通、流通理论与流通经济学--关于流通经济理论(学)的研究方法与体系框架的构想

学科视角不同,流通的含义也不同.本文将流通问题研究的学科视角限定为经济学或管理学,进而将流通界定为不包括货币、资金、劳动力、服务的有形商品或产品从生产领域到消费领域的流动,指出了流通与交换、贸易、商业、营销、分销等概念的异同.本文认为可以从宏观与微观两个视角,用经济学与管理学两种分析工具对流通问题进行研究,进而形成两种流通理论,前者可称为流通经济理论,后者可称为流通管理理论.同时,本文用机构分析法、商品分析法、功能分析法、系统分析法、社会分析法等研究方法对流通经济理论(学)的体系框架进行了初步设计.     

Dual embeddedness,influence and performance of innovating subsidiaries in the multinational corporation

This study adopts a business network view to study the effects of subsidiary embeddedness on both subsidiary influence within the MNC and innovation-related business performance. Through Structural Equation Modeling we analyze subsidiary relationships connected to 85 innovation projects. The results show that external and corporate embeddedness are complementary contexts, although they affect subsidiary influence and performance differently. Whereas external embeddedness directly affects innovation-related business performance, corporate embeddedness strengthens the subsidiary's influence within the MNC, which in turn positively relates to performance. Moreover, as the study also finds that external and corporate embeddedness are positively associated, it stresses the issue of simultaneously balancing both external and corporate relationships (i.e., dual embeddedness) to nurture innovation projects.     

Large established firms entry into franchising: an exploratory investigation of strategic and operational issues

Although franchising is traditionally associated with newly emerging businesses which need to finance growth, this marketing technique is being increasingly utilized by large established firms as a method of business development. This article analyses the business objectives which led a sample of such firms in the UK to introduce franchising as a means of channel management. The modes of franchising-including the master franchise-selected by these firms as well as their operational and organizational experiences are investigated. In particular, there is an examination of the major managerial/cultural issues which these firms encountered in trying to reconcile the decentralized organization and operating methods implicit in the franchising concept with the centralized decision making and organization of a corporate concern. The implications for management of this dichotomy are explored.     

城市与流通的互动:城市流通系统--城市与流通问题研究的新视角

本文从历史发展的角度,分析了城市与流通的互动关系,提出了城市流通系统的概念,并将城市流通系统划分为城市批发流通系统与城市零售流通系统,进而揭示了这两个系统的相互依存关系.在此基础上,运用经济地理理论、商业集聚理论,对城市流通系统的空间与功能分化、竞争结构、城市的层级性以及城市流通系统与城市经济发展的互动机制,进行了较为深入的分析.     

股权分置改革财富再分配效应

股权分置改革是流通股东与非流通股东利益重新分配的过程.本文具体讨论股权分置改革的财富创造效应,以及财富在不同主体间的再分配效应.46家试点上市公司的实证结果表明:从总体上看,股权分置改革过程能够创造财富,非流通股东的收益明显高于流通股东的收益,且流通股的超常收益与第一大股东的持股比例负相关,说明在股权分置改革过程中非流通股东,尤其是绝对优势的大股东处于有利地位.     

谈进口资本品的双重效应与技术进步——基于2001-2009年中国省际面板数据分析

利用我国27个省市区2001—2009年的面板数据,采用动态面板数据模型分析方法,对进口资本品影响技术进步的双重效应、滞后效应与间接效应进行实证分析。结果显示,进口资本品对TFP的影响具有双重效应,进口资本品与TFP呈倒"U"型关系;在研究样本期内,进口资本品对TFP的负面影响占主导地位,其数量已超过最优值,此时再增加资本品进口会导致TFP下降。滞后一期的进口资本品能够促进技术进步。进口资本品还通过人力资本、FDI等间接渠道对技术进步产生积极影响。     

When the Music Stops Playing: Post-litigation Relationship Dissolution in Franchising

Franchise relationships engender franchisor–franchisee conflicts and are prone to premature dissolution. Building on agency theory and institutional theory, this study examines what specific reasons – from both franchisors’ and franchisees’ perspectives – may cause post-litigation relationship dissolution (PLRD) and how franchise regulations moderate these relationships. We argue that both franchisor and franchisee may misrepresent themselves before their relationship begins (adverse selection) and behave opportunistically after the contract is signed (moral hazard), that is, ‘dual agency’. Based on 20-year archival records of franchisor–franchisee relationship histories gleaned from multiple data sources, we found that PLRD is likely to be caused by franchisors’ passive moral hazard and by franchisees’ active moral hazard. In addition, franchisor adverse selection has a greater impact on PLRD than franchisee adverse selection. With regards to regulatory influences, the presence of relationship law weakens the impact of franchisees’ passive moral hazard, but not their active moral hazard, on PLRD. Contrary to what we hypothesize, the presence of registration law amplifies the impact of franchisee adverse selection on PLRD. Ultimately, this study creates a better understanding of the antecedents and curbing mechanisms of PLRD in franchising.     

关于家电流通企业商业模式的探讨

本文立足于家电行业的流通环节,从商业模式的概念入手,给出了商业模式的三层体系结构模型,对家电行业的价值链诸角色及相互博弈状况进行了分析,并研究了在时间尺度上家电行业的业态转化、核心能力变化及商业模式创新等方面的发展状况,根据这些新的形势变化,提出新的商业模式环境下家电流通企业所应该采取的对策。     

Distribution of Integrated Business Applications

New corporate developments, such as globalization, diversification and process orientation, are posing a challenge to the degree of integration of business application software. International standard software designed to meet the requirements of all types of business is acquiring greater strategic significance. The increased need for flexibility, localization, and scalable growth makes it necessary for highly integrated businesses applications to be distributable. Possible scenarios reflect managerial and organizational requirements. Additional mechanisms must be incorporated and business processes adapted to compensate for the increased autonomy of sub-applications. Reprint of an article from WIRTSCHAFTSINFORMATIK 35(5)1993:455–464. This article is also available in German in print and via http://www.wirtschaftsinformatik.de: Kagermann H (2008) Verteilung integrierter Anwendungen. WIRTSCHAFTSINFORMATIK. doi: 10.1007/s11576-008-0134-x.     

Relationships in Franchised Distribution System: the Case of the Spanish Market

The purpose of this article is to examine long-term inter-firm relationship management and to investigate empirically if trust and commitment are essential variables for relationship success. This study analyses both the relationship between two behaviours (cooperation and exchange information) and the development of trust and commitment as well as their effects on long-term orientation, satisfaction and performance. The unit of analysis is the dyadic relationship, assessing separately franchisor's and franchisees' perspectives, and comparing similarities and differences across perspectives (Anderson & Narus, ; Jap, ). The model proposed has been tested with 107 franchisors and 102 franchisees operating both in the retail (food and beverages, fashions, furniture …) and the service sector (estate agencies, education, dry-cleaner's, diverse services …) in the Spanish franchised distribution system. Results show that both commitment and trust are key variables for long-term relationship success from the franchisors perspective, but that from the franchisees side, trust is the key variable for relationship success.     

试论流通产业的贡献

本文分别从GDP或GNP、经济增长、三次产业、社会就业、国民福利及城市形成和发展等维度,分析了流通产业的贡献及相关测度方法;并结合中外流通产业发展的实践,对流通产业在某些方面的贡献进行了国际比较分析;最后给出了相应的结论及促进中国流通产业发展的政策建议.     

Managing Multi- and Omni-Channel Distribution: Metrics and Research Directions

The increase in the variety of channel formats, and the progression from single, to multi-, then to omni-channel marketing has made shopping and buying more convenient for consumers, but trickier to manage for marketers—both upstream suppliers and downstream retailers. The first step in managing multi- and omni-channel distribution is to find the specific metrics that will facilitate reliable analysis of the relationship between distribution and marketing objectives. That is our primary goal in this article—to present the metrics, both old and new, that marketers, both suppliers and retailers, need to monitor, and that academic researchers, both theoretical and empirical, should incorporate in their models. We present a basic framework for managing distribution, and summarize the metrics that are relevant to each element of the framework. Then, we lay out what we believe are important questions that multi- and omni-channel marketers are grappling with, refer the reader to what existing academic research has to say about them, and suggest how future research can build off our framework and metrics to supplement what is known and address what is not.     

中国城市化对流通业发展影响的实证研究

从历史演进和逻辑分析相结合的角度看,城市的经济职能在于其作为集中的交换场所促进了交易频率的提高和流通业的不断发展.因此,旨在检验城市化与流通业发展关系的实证研究无疑是锦上添花.中国经济的快速增长使得多数宏观经济变量表现出非平稳特征,而协整以及建立在协整关系基础上的误差修正模型为研究非平稳变量之间的定量关系奠定了理论基础.本文利用1960～2003年中国的城市化率和流通业发展的年度数据,通过自回归分布滞后模型的方法建立了一个对应的误差修正模型,以此作为定量分析城市化对流通业发展影响的基础.研究表明,从长期看,城市化水平每增长1个百分点促使流通业增长2.436个百分点.     

“双循环”理论综合及其在我国的应用实践

“双循环”新发展格局的提出是中国特色社会主义政治经济学的重大理论创新,本文致力于综合国民经济循环理论演进脉络和现有马克思主义政治经济学观点的新发展格局研究,构建包括循环内容、循环机制、内外循环依存关系的双循环分析框架,并以此分析框架系统梳理我国发展实践和国内国际循环现状特征。研究发现,我国经历了封闭失衡的国内循环、国内国际循环初步发展、国际大循环驱动、做大国内循环等多个发展阶段;2008以来我国国内循环比例大幅提升,以国内大循环为主体具备实践基础,但国际循环仍是重要牵引力,促进循环的创新动力和需求动力不足,国内国际循环的主导关系仍有待转换。因此,构建“双循环”新发展格局,关键是通过改革破除堵点,强化创新和扩大内需双向发力,以国内引力场集聚全球要素资源,形成以我为主、内外协同的国内国际循环互动新格局。     

技术性贸易壁垒的双重性质及甄别机制

技术性贸易壁垒具有双重性质,提供基于市场失灵的保护和基于经济利益的保护.不同性质的技术性贸易壁垒经济效应有所不同,并将导致不同的政策取向,因而其性质区分是很重要的.规制技术性贸易壁垒的TBT和SPS协议为识别可疑壁垒提供了一些基本准则.本文从政策目标和政策结果两个层面剖析技术性贸易壁垒的双重性质及其甄别机制,并在此基础上提出技术性贸易壁垒自由化的现实路径.     

Franchisor strategy and firm performance: Making the most of strategic resource investments

A key decision for entrepreneurs in many retail and service firms is whether, and how much, to use franchising. If the decision is made to franchise, the actor may assume one of two “identities” or tactics: (1) the “chain builder,” who uses a blend of company and franchised outlets, and (2) the “turnkey,” who sells business opportunities but does not own any outlets. To benefit from their chosen strategy, franchisors must put resources in place to support it. We argue that franchisors use the chain building strategy to strike a balance between standardization and innovation by building resources that foster trust and encourage knowledge sharing with franchisees. In contrast, for turnkeys, a valuable set of operational routines is the critical strategic resource. To better appreciate how franchisors choose between the chain builder and turnkey strategies, we gathered survey information from 263 franchisors. Via this data, and as described herein, we learned that franchisors perform better when they invest in resources that best support their selected strategy.