New challenges in franchisor-franchisee relationship. An analysis from agency theory perspective
##plugins.themes.bootstrap3.article.main##
##plugins.themes.bootstrap3.article.sidebar##
Published
18-09-2018
Guillermo Navarro Sanfelix
Francisco Puig
Abstract
Agency theory has been widely used in the franchising literature. This theory analyzes the contract relationships between the principal and agent and has been mostly applied to franchising in traditional sectors (e.g., restaurants, retailing, or travel agencies) where the processes and procedures can be easily standardized. Recently, there has been a spectacular development of high-intensity knowledge sectors, especially in the health sector (dentists, opticians, physiotherapists etc.), where many companies choose franchising to expand the network and improve the survival rates of franchisees, although this strategy goes against the traditional view of the agency theory.
In this work, we propose to study this "new agency problem", using the franchising business model as our research field. The know-how in high-knowledge-intensive sectors is difficult to codify and transfer, and it opens new possibilities for resource-based and intellectual capital perspectives to explain how knowledge assets are built into contracts in franchisor-franchisee relationships. Using resource-based theory and an intellectual capital perspective, we develop propositions on how to handle the knowledge transfer more efficiently. From this point of view, we propose an interorganizational dynamic contract to provide a more efficient knowledge transfer, thereby contributing to the success of the franchise networks as well as reducing the failure rates of franchisees' outlets.
How to Cite
Navarro Sanfelix, G., & Puig, F. (2018). New challenges in franchisor-franchisee relationship. An analysis from agency theory perspective. Cuadernos De Gestión, 18(1), 85–102. https://doi.org/10.5295/cdg.150610gn
##plugins.themes.bootstrap3.article.details##
Keywords
Franchise, agency theory, entrepreneurship, resource-based view
References
Alon, I., Ni, L., and Wang, Y. 2012. Examining the determinants of hotel chain expansión through international franchising. International Journal of Hospitality Management, 31(2), 379-386.
Altinay, L., Brookes, M., Yeung, R., and Aktas, G., 2014. Franchisees’ perceptions of relationship development in franchise partnerships. Journal of Services Marketing, 28(6), 509-519.
AEF (Asociación Española de Franquicias), 2015. Franquiciadores. Libro Oficial de la Asociación Española de Franquiciadores 2015. Disponible on-line, consultado el 15 de febrero de 2016: http://www.franquiciadores.com/publicaciones.php
Ayling, D., 1988. Franchising in the UK. The Quarterly Review of Marketing, 13(4), 19-24.
Baena, V., 2010. Teorías y líneas de investigación en el sistema de franquicia: una revisión desde los años 60 hasta 2009. Cuadernos de Gestión, 10, 43-66.
Barthélemy, J., 2011. Agency and institutional influences on franchising decisions. Journal of Business Venturing, 26(1), 93-103.
Bates, T., 1995. Analysis of survival rates among franchise and independent small business startups. Journal of Small Business Management, 33(2), 26-36.
Benavides, M. C. R., Rata, B. M., and Sánchez, J. I. L., 2008. Transferencia de conocimiento en la creación y en el funcionamiento de los sistemas de franquicia: un estudio empírico. Economía Industrial, (368), 227-237.
Blut, M., Backhaus, C., Heussler, T., Woisetschläger, D. M., Evanschitzky, H., and Ahlert, D., 2011. What to expect after the honeymoon: testing a lifecycle theory of franchise relationships. Journal of Retailing, 87(3), 306-319.
Castrogiovanni, G. J., Justis, R. T., and Julian, S. D., 1993. Franchise failure rates: an assessment of magnitude and influencing factors. Journal of Small Business Management, 31, 105-105.
Caves, R. E., and Murphy, W. F., 1976. Franchising: Firms, markets, and intangible assets. Southern Economic Journal, 42, 572-586.
Christopher, M., 1996. From brand values to customer value. Journal of Marketing Practice: Applied Marketing Science, 2(1), 55-66
Combs, J. G., Ketchen, D. J., Shook, C. L., and Short, J. C., 2011. Antecedents and consequences of franchising: Past accomplishments and future challenges. Journal of Management, 37(1), 99-126.
Combs, J. G., Ketchen Jr, D. J., and Short, J. C., 2011. Franchising research: Major milestones, new directions, and its future within entrepreneurship. Entrepreneurship Theory and Practice, 35(3), 413-425.
Croonen, E. P., and Brand, M., 2013. Antecedents of franchisee responses to franchisor-initiated strategic change. International Small Business Journal, 0(0), 1-23.
Chu, C. N., and Liu, W. M., 2010. General Equilibrium Analysis of Hold-Up Problem and Non-Exclusive Franchise Contract. Pacific Economic Review, 15(5), 674-684.
Cuevas-Rodríguez, G., Gomez-Mejia, L. R., and Wiseman, R. M., 2012. Has agency theory run its course? Making the theory more flexible to inform the management of reward systems. Corporate Governance: An International Review, 20(6), 526-546.
Cumberland, D., and Githens, R., 2012. Tacit knowledge barriers in franchising: practical solutions. Journal of Workplace Learning, 24(1), 48-58
Dada, O. L., and Watson, A., 2012. The effect of entrepreneurial orientation on the franchise relationship. International Small Business Journal. 0 (0) 1–23
Dada, O. L., Watson, A., and Kirby, D. A., 2010. Toward a model of franchisee entrepreneurship. International Small Business Journal. 30(5), 1–25
Dant, R. P., 2008. A futuristic research agenda for the field of franchising. Journal of Small Business Management, 46(1), 91-98.
Desai, P. S., 1997. Advertising fee in business-format franchising. Management Science, 43(10), 1401-1419.
Eisenhardt, K. M., 1989. Agency theory: An assessment and review. Academy of Management Review, 14(1), 57-74.
El Akremi, A., Mignonac, K., and Perrigot, R., 2010. Opportunistic behaviors in franchise chains: The role of cohesion among franchisees. Strategic Management Journal, 32(9), 930-948.
Fama, E. F., and Jensen, M. C., 1983a. Separation of ownership and control. Journal of Law and Economics, 26, 301-325.
Fama, E. F., and Jensen, M. C., 1983b. Agency problems and residual claims. Journal of Law and Economics, 26, 327-349.
Fladmoe-Lindquist, K., 1996. International franchising: capabilities and development. Journal of Business Venturing, 11(5), 419-438.
Gasset, J. R., 1992. La franquicia: una estrategia de expansión. Escuela de administración de empresas de Barcelona.
Gillis, W., and Castrogiovanni, G. J., 2012. The franchising business model: an entrepreneurial growth alternative. International Entrepreneurship and Management Journal, 8(1), 75-98.
Gonzalez-Diaz, M., and Solis-Rodriguez, V., 2012. Why do entrepreneurs use franchising as a financial tool? An agency explanation. Journal of Business Venturing, 27(3), 325-341.
Gorovaia, N., and Windsperger, J., 2013. Determinants of knowledge transfer strategy in franchising: integrating knowledge-based and relational governance perspectives. The Service Industries Journal, 33(12), 1117-1134.
Grace, D., and Weaven, S., 2011. An empirical analysis of franchisee value-in-use, investment risk and relational satisfaction. Journal of Retailing, 87(3), 366-380.
Hossain, T., and Wang, S., 2008. Franchisor’s Cumulative Franchising Experience and Its Impact on Franchising Management Strategies. Journal of Marketing Channels, 15(1), 43-69.
Hua, N., and Dalbor, M. C., 2013. Evidence of franchising on outperformance in the restaurant industry: A long term analysis and perspective. International Journal of Contemporary Hospitality Management, 25(5), 723-739.
IFA (International Franchising Association), 2016. Franchise Business Economic Outlook for 2016. Disponible on line, consultado el 10 de junio de 2016: http://www.franchise.org/sites/default/files/EconomicOutlookInfographic_January2016.pdf
Jensen, M. C., and Meckling, W. H., 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Juste, M. V. B., Palacios, L. L., and Redondo, Y. P., 2006. Valoración de los recursos intangibles: un análisis empírico para el sector de la franquicia. Información Comercial Española, ICE: Revista de Economía (829), 177-188.
Kaufmann, P. J., 1999. Franchising and the choice of self-employment. Journal of Business Venturing, 14(4), 345-362.
Kaufmann, P. J., and Eroglu, S., 1999. Standardization and adaptation in business format franchising. Journal of Business Venturing, 14(1), 69-85.
Lafontaine, F., 1992. Agency theory and franchising: some empirical results. The RAND Journal of Economics, 23(2), 263-283.
Lafontaine, F., and Bhattacharyya, S., 1995. The role of risk in franchising. Journal of Corporate Finance, 2(1), 39-74.
Letza, S., Kirkbride, J., and Sun, X., 2004. Shareholding versus stakeholding: A critical review of corporate governance. Governance: An International Review, 12(3), 242-262.
Marie Doherty, A., Chen, X., and Alexander, N., 2014. The franchise relationship in China: agency and institutional theory perspectives. European Journal of Marketing, 48(9/10), 1664-1689.
Mellewigt, T., Ehrmann, T., and Decker, C., 2011. How does the franchisor’s choice of different control mechanisms affect franchisees’ and employee-managers’ satisfaction? Journal of Retailing, 87(3), 320-331.
Michael, S. C., 2014. Can franchising be an economic development strategy? An empirical investigation. Small Business Economics, 42(3), 611-620.
Michael, S. C., and Combs, J. G., 2008. Entrepreneurial failure: the case of franchisees*. Journal of Small Business Management, 46(1), 73-90.
Michael, S. C., and Moore, H. J., 1995. Returns to franchising. Journal of Corporate Finance, 2(1), 133-155.
Mumdžiev, N., and Windsperger, J., 2011. The structure of decision rights in franchising networks: a property rights perspective. Entrepreneurship Theory and Practice, 35(3), 449-465.
Norton, S. W., 1988. An empirical look at franchising as an organizational form. Journal of Business, 61(2), 197-218.
Nyadzayo, M. W., Matanda, M. J., and Ewing, M. T., 2015. The impact of franchisor support, brand commitment, brand citizenship behavior, and franchisee experience on franchisee-perceived brand image. Journal of Business Research, 68, 1886-1894.
Okoroafor, H., 2014. The barriers to tacit knowledge sharing in franchise organizations. Knowledge Management Research & Practice, 12(1), 97-102.
Pardo-del-Val, M., Martínez-Fuentes, C., López-Sánchez, J. I., and Minguela-Rata, B., 2014. Franchising: the dilemma between standardisation and flexibility. The Service Industries Journal, 34(9-10), 828-842.
Pena, I., 2002. Intellectual capital and business start-up success. Journal of Intellectual Capital, 3(2), 180-198.
Petty, R., and Guthrie, J., 2000. Intellectual capital literature review: measurement, reporting and management. Journal of Intellectual Capital, 1(2), 155-176.
Ring, P. S., and Van de Ven, A. H., 1994. Developmental processes of cooperative interorganizacional relationships. Academy of Management Review, 19(1), 90-118.
Ross, S. A., 1973. The economic theory of agency: The principal’s problem. The American Economic Review, 63, 134-139.
Rubin, P. H., 1973. Expansion of firms. Journal of Political Economy, 81(4), 936-949.
Rubin, P. H., 1978. The theory of the firm and the structure of the franchise contract. Journal of Law and Economics, 21, 223-233.
Salar, M., and Salar, O., 2014. Determining pros and cons of franchising by using swot analysis. Procedia-Social and Behavioral Sciences, 122, 515-519.
Seawright, K. W., Smith, I. H., Mitchell, R. K., and McClendon, R., 2013. Exploring Entrepreneurial Cognition in Franchisees: A Knowledge-Structure Approach. Entrepreneurship Theory and Practice, 37(2), 201-227.
Shane, S. A., 1998. Making new franchise systems work. Strategic Management Journal, 19(7), 697-707.
Shane, S., and Venkataraman, S., 2000. The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Sigué, S. P., and Chintagunta, P., 2009. Advertising strategies in a franchise system. European Journal of Operational Research, 198(2), 655-665.
Stewart, T., and Ruckdeschel, C., 1998. Intellectual capital: The new wealth of organizations. New York: Currency Doubleday.
Teece, D. J., Pisano, G., and Shuen, A., 1997. Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.
Vázquez, L., 2005. Las compensaciones en las relaciones de franquicia. Revista de Economía Aplicada, 13(38), 111-122.
Vázquez, L., 2007. Determinants of contract length in franchise contracts. Economics Letters, 97(2), 145-150.
Venkataraman, S., 1997. The distinctive domain of entrepreneurship research. Advances in Entrepreneurship, Firm Emergence and Growth, 3(1), 119-138.
Watson, A., and Stanworth, J., 2006. Franchising and intellectual capital: A franchisee’s perspective. The International Entrepreneurship and Management Journal, 2(3), 337-349.
Wernerfelt, B., 1984. A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180.
Wimmer, B. S., and Garen, J. E., 1997. Moral hazard, asset specificity, implicit bonding, and compensation: The case of franchising. Economic Inquiry, 35(3), 544-554.
Windsperger, J., and Dant, R. P., 2006. Contractibility and ownership redirection in franchising: A property rights view. Journal of Retailing, 82(3), 259-272.
Winter, S. G., Szulanski, G., Ringov, D., and Jensen, R. J., 2012. Reproducing knowledge: inaccurate replication and failure in franchise organizations. Organization Science, 23(3), 672-685.
Zander, U., and Kogut, B., 1995. Knowledge and the speed of the transfer and imitation of organizational capabilities: An empirical test. Organization Science, 6(1), 76-92.
Altinay, L., Brookes, M., Yeung, R., and Aktas, G., 2014. Franchisees’ perceptions of relationship development in franchise partnerships. Journal of Services Marketing, 28(6), 509-519.
AEF (Asociación Española de Franquicias), 2015. Franquiciadores. Libro Oficial de la Asociación Española de Franquiciadores 2015. Disponible on-line, consultado el 15 de febrero de 2016: http://www.franquiciadores.com/publicaciones.php
Ayling, D., 1988. Franchising in the UK. The Quarterly Review of Marketing, 13(4), 19-24.
Baena, V., 2010. Teorías y líneas de investigación en el sistema de franquicia: una revisión desde los años 60 hasta 2009. Cuadernos de Gestión, 10, 43-66.
Barthélemy, J., 2011. Agency and institutional influences on franchising decisions. Journal of Business Venturing, 26(1), 93-103.
Bates, T., 1995. Analysis of survival rates among franchise and independent small business startups. Journal of Small Business Management, 33(2), 26-36.
Benavides, M. C. R., Rata, B. M., and Sánchez, J. I. L., 2008. Transferencia de conocimiento en la creación y en el funcionamiento de los sistemas de franquicia: un estudio empírico. Economía Industrial, (368), 227-237.
Blut, M., Backhaus, C., Heussler, T., Woisetschläger, D. M., Evanschitzky, H., and Ahlert, D., 2011. What to expect after the honeymoon: testing a lifecycle theory of franchise relationships. Journal of Retailing, 87(3), 306-319.
Castrogiovanni, G. J., Justis, R. T., and Julian, S. D., 1993. Franchise failure rates: an assessment of magnitude and influencing factors. Journal of Small Business Management, 31, 105-105.
Caves, R. E., and Murphy, W. F., 1976. Franchising: Firms, markets, and intangible assets. Southern Economic Journal, 42, 572-586.
Christopher, M., 1996. From brand values to customer value. Journal of Marketing Practice: Applied Marketing Science, 2(1), 55-66
Combs, J. G., Ketchen, D. J., Shook, C. L., and Short, J. C., 2011. Antecedents and consequences of franchising: Past accomplishments and future challenges. Journal of Management, 37(1), 99-126.
Combs, J. G., Ketchen Jr, D. J., and Short, J. C., 2011. Franchising research: Major milestones, new directions, and its future within entrepreneurship. Entrepreneurship Theory and Practice, 35(3), 413-425.
Croonen, E. P., and Brand, M., 2013. Antecedents of franchisee responses to franchisor-initiated strategic change. International Small Business Journal, 0(0), 1-23.
Chu, C. N., and Liu, W. M., 2010. General Equilibrium Analysis of Hold-Up Problem and Non-Exclusive Franchise Contract. Pacific Economic Review, 15(5), 674-684.
Cuevas-Rodríguez, G., Gomez-Mejia, L. R., and Wiseman, R. M., 2012. Has agency theory run its course? Making the theory more flexible to inform the management of reward systems. Corporate Governance: An International Review, 20(6), 526-546.
Cumberland, D., and Githens, R., 2012. Tacit knowledge barriers in franchising: practical solutions. Journal of Workplace Learning, 24(1), 48-58
Dada, O. L., and Watson, A., 2012. The effect of entrepreneurial orientation on the franchise relationship. International Small Business Journal. 0 (0) 1–23
Dada, O. L., Watson, A., and Kirby, D. A., 2010. Toward a model of franchisee entrepreneurship. International Small Business Journal. 30(5), 1–25
Dant, R. P., 2008. A futuristic research agenda for the field of franchising. Journal of Small Business Management, 46(1), 91-98.
Desai, P. S., 1997. Advertising fee in business-format franchising. Management Science, 43(10), 1401-1419.
Eisenhardt, K. M., 1989. Agency theory: An assessment and review. Academy of Management Review, 14(1), 57-74.
El Akremi, A., Mignonac, K., and Perrigot, R., 2010. Opportunistic behaviors in franchise chains: The role of cohesion among franchisees. Strategic Management Journal, 32(9), 930-948.
Fama, E. F., and Jensen, M. C., 1983a. Separation of ownership and control. Journal of Law and Economics, 26, 301-325.
Fama, E. F., and Jensen, M. C., 1983b. Agency problems and residual claims. Journal of Law and Economics, 26, 327-349.
Fladmoe-Lindquist, K., 1996. International franchising: capabilities and development. Journal of Business Venturing, 11(5), 419-438.
Gasset, J. R., 1992. La franquicia: una estrategia de expansión. Escuela de administración de empresas de Barcelona.
Gillis, W., and Castrogiovanni, G. J., 2012. The franchising business model: an entrepreneurial growth alternative. International Entrepreneurship and Management Journal, 8(1), 75-98.
Gonzalez-Diaz, M., and Solis-Rodriguez, V., 2012. Why do entrepreneurs use franchising as a financial tool? An agency explanation. Journal of Business Venturing, 27(3), 325-341.
Gorovaia, N., and Windsperger, J., 2013. Determinants of knowledge transfer strategy in franchising: integrating knowledge-based and relational governance perspectives. The Service Industries Journal, 33(12), 1117-1134.
Grace, D., and Weaven, S., 2011. An empirical analysis of franchisee value-in-use, investment risk and relational satisfaction. Journal of Retailing, 87(3), 366-380.
Hossain, T., and Wang, S., 2008. Franchisor’s Cumulative Franchising Experience and Its Impact on Franchising Management Strategies. Journal of Marketing Channels, 15(1), 43-69.
Hua, N., and Dalbor, M. C., 2013. Evidence of franchising on outperformance in the restaurant industry: A long term analysis and perspective. International Journal of Contemporary Hospitality Management, 25(5), 723-739.
IFA (International Franchising Association), 2016. Franchise Business Economic Outlook for 2016. Disponible on line, consultado el 10 de junio de 2016: http://www.franchise.org/sites/default/files/EconomicOutlookInfographic_January2016.pdf
Jensen, M. C., and Meckling, W. H., 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Juste, M. V. B., Palacios, L. L., and Redondo, Y. P., 2006. Valoración de los recursos intangibles: un análisis empírico para el sector de la franquicia. Información Comercial Española, ICE: Revista de Economía (829), 177-188.
Kaufmann, P. J., 1999. Franchising and the choice of self-employment. Journal of Business Venturing, 14(4), 345-362.
Kaufmann, P. J., and Eroglu, S., 1999. Standardization and adaptation in business format franchising. Journal of Business Venturing, 14(1), 69-85.
Lafontaine, F., 1992. Agency theory and franchising: some empirical results. The RAND Journal of Economics, 23(2), 263-283.
Lafontaine, F., and Bhattacharyya, S., 1995. The role of risk in franchising. Journal of Corporate Finance, 2(1), 39-74.
Letza, S., Kirkbride, J., and Sun, X., 2004. Shareholding versus stakeholding: A critical review of corporate governance. Governance: An International Review, 12(3), 242-262.
Marie Doherty, A., Chen, X., and Alexander, N., 2014. The franchise relationship in China: agency and institutional theory perspectives. European Journal of Marketing, 48(9/10), 1664-1689.
Mellewigt, T., Ehrmann, T., and Decker, C., 2011. How does the franchisor’s choice of different control mechanisms affect franchisees’ and employee-managers’ satisfaction? Journal of Retailing, 87(3), 320-331.
Michael, S. C., 2014. Can franchising be an economic development strategy? An empirical investigation. Small Business Economics, 42(3), 611-620.
Michael, S. C., and Combs, J. G., 2008. Entrepreneurial failure: the case of franchisees*. Journal of Small Business Management, 46(1), 73-90.
Michael, S. C., and Moore, H. J., 1995. Returns to franchising. Journal of Corporate Finance, 2(1), 133-155.
Mumdžiev, N., and Windsperger, J., 2011. The structure of decision rights in franchising networks: a property rights perspective. Entrepreneurship Theory and Practice, 35(3), 449-465.
Norton, S. W., 1988. An empirical look at franchising as an organizational form. Journal of Business, 61(2), 197-218.
Nyadzayo, M. W., Matanda, M. J., and Ewing, M. T., 2015. The impact of franchisor support, brand commitment, brand citizenship behavior, and franchisee experience on franchisee-perceived brand image. Journal of Business Research, 68, 1886-1894.
Okoroafor, H., 2014. The barriers to tacit knowledge sharing in franchise organizations. Knowledge Management Research & Practice, 12(1), 97-102.
Pardo-del-Val, M., Martínez-Fuentes, C., López-Sánchez, J. I., and Minguela-Rata, B., 2014. Franchising: the dilemma between standardisation and flexibility. The Service Industries Journal, 34(9-10), 828-842.
Pena, I., 2002. Intellectual capital and business start-up success. Journal of Intellectual Capital, 3(2), 180-198.
Petty, R., and Guthrie, J., 2000. Intellectual capital literature review: measurement, reporting and management. Journal of Intellectual Capital, 1(2), 155-176.
Ring, P. S., and Van de Ven, A. H., 1994. Developmental processes of cooperative interorganizacional relationships. Academy of Management Review, 19(1), 90-118.
Ross, S. A., 1973. The economic theory of agency: The principal’s problem. The American Economic Review, 63, 134-139.
Rubin, P. H., 1973. Expansion of firms. Journal of Political Economy, 81(4), 936-949.
Rubin, P. H., 1978. The theory of the firm and the structure of the franchise contract. Journal of Law and Economics, 21, 223-233.
Salar, M., and Salar, O., 2014. Determining pros and cons of franchising by using swot analysis. Procedia-Social and Behavioral Sciences, 122, 515-519.
Seawright, K. W., Smith, I. H., Mitchell, R. K., and McClendon, R., 2013. Exploring Entrepreneurial Cognition in Franchisees: A Knowledge-Structure Approach. Entrepreneurship Theory and Practice, 37(2), 201-227.
Shane, S. A., 1998. Making new franchise systems work. Strategic Management Journal, 19(7), 697-707.
Shane, S., and Venkataraman, S., 2000. The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Sigué, S. P., and Chintagunta, P., 2009. Advertising strategies in a franchise system. European Journal of Operational Research, 198(2), 655-665.
Stewart, T., and Ruckdeschel, C., 1998. Intellectual capital: The new wealth of organizations. New York: Currency Doubleday.
Teece, D. J., Pisano, G., and Shuen, A., 1997. Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533.
Vázquez, L., 2005. Las compensaciones en las relaciones de franquicia. Revista de Economía Aplicada, 13(38), 111-122.
Vázquez, L., 2007. Determinants of contract length in franchise contracts. Economics Letters, 97(2), 145-150.
Venkataraman, S., 1997. The distinctive domain of entrepreneurship research. Advances in Entrepreneurship, Firm Emergence and Growth, 3(1), 119-138.
Watson, A., and Stanworth, J., 2006. Franchising and intellectual capital: A franchisee’s perspective. The International Entrepreneurship and Management Journal, 2(3), 337-349.
Wernerfelt, B., 1984. A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180.
Wimmer, B. S., and Garen, J. E., 1997. Moral hazard, asset specificity, implicit bonding, and compensation: The case of franchising. Economic Inquiry, 35(3), 544-554.
Windsperger, J., and Dant, R. P., 2006. Contractibility and ownership redirection in franchising: A property rights view. Journal of Retailing, 82(3), 259-272.
Winter, S. G., Szulanski, G., Ringov, D., and Jensen, R. J., 2012. Reproducing knowledge: inaccurate replication and failure in franchise organizations. Organization Science, 23(3), 672-685.
Zander, U., and Kogut, B., 1995. Knowledge and the speed of the transfer and imitation of organizational capabilities: An empirical test. Organization Science, 6(1), 76-92.
Issue
Section
Articles
Authors retain copyright of its works. Management Letters/Cuadernos de Gestión publications are licensed under Creative Commons license CC-BY-NC-ND, granting open access rights to society.
Specifically, CC-BY-NC-ND license permits any kind of use, distribution, publicize and copy the article, as long as the original author and source are properly recognized and for Non Commercial purposes.
The author can use the article freely always indicating that it has been published in Management Letters/Cuadernos de Gestión. Any re-edition of the article must be approved by the journal editorial team.