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Displaying results 1 to 5 of 5.

  1. Financial constraints and moral hazard
    the case of franchising
    Author: Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine
    Published: 2013
    Publisher:  CESifo, München

    Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and... more

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
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    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63 (4474)
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    No inter-library loan

     

    Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of franchising. We find that a 30 percent decrease in average collateralizable housing wealth in a region delays chains ́entry into franchising by 0.28 years on average, 9 percent of the average waiting time, and slows their growth by around 10 percent, leading to a 10 percent reduction in franchised chain employment.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/89687
    RVK Categories: QB 910
    Series: Array ; 4474
    Subjects: Finanzierung; Liquiditätsbeschränkung; Franchising; Kreditsicherung; Moral Hazard; Unternehmenswachstum; Theorie; Schätzung; USA; contracting; incentives; principal-agent; empirical; collateralizable housing wealth; entry; growth
    Scope: Online-Ressource (45 S.), graph. Darst.
  2. Financial constraints and moral hazard
    the case of franchising
    Author: Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine
    Published: 2013
    Publisher:  Ross School of Business, Ann Arbor, Mich.

    Location:
    Staats- und Universitätsbibliothek Bremen
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 68 (1212)
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 2027.42/101894
    Series: Ross School of Business working paper series ; 1212
    Subjects: Finanzierung; Liquiditätsbeschränkung; Franchising; Kreditsicherung; Moral Hazard; Unternehmenswachstum; Theorie; Schätzung; USA
    Scope: Online-Ressource (45 S.), graph. Darst.
  3. Barriers to entry and competitive behavior
    evidence from reforms of cable franchising regulations
    Author: Bagchi, Sutirtha; Sivadasan, Jagadeesh
    Published: 2013
    Publisher:  Ross School of Business, Ann Arbor, Mich.

    Location:
    Staats- und Universitätsbibliothek Bremen
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 68 (1195)
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 2027.42/99577
    Edition: This draft: May 2013
    Series: Ross School of Business working paper series ; 1195
    Subjects: Kabelfernsehen; Franchising; Markteintritt; Preiswettbewerb; Rundfunkpolitik; USA
    Scope: Online-Ressource (32, [21] S.), graph. Darst., Kt.
  4. The operational consequences of private equity buyouts
    evidence from the restaurant industry
    Author: Bernstein, Shai; Sheen, Albert
    Published: 2013
    Publisher:  Univ., Rock Center for Corporate Governance, Stanford, Calif.

    Do private equity buyouts disrupt company operations to maximize short-term goals? We document significant operational changes in 103 restaurant chain buyouts between 2002 and 2012 using health inspection records for over 50,000 stores in Florida.... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Do private equity buyouts disrupt company operations to maximize short-term goals? We document significant operational changes in 103 restaurant chain buyouts between 2002 and 2012 using health inspection records for over 50,000 stores in Florida. Store-level operational practices improve after private equity buyout, as restaurants become cleaner, safer, and better maintained. Supporting a causal interpretation, this effect is stronger in chain-owned stores than in franchised locations -- “twin restaurants” over which private equity owners have limited control. Private equity targets also reduce employee headcount, lower menu prices, and experience a lower likelihood of store closures -- a proxy for poor financial performance. These changes to store-level operations require monitoring, training, and better alignment of worker incentives, suggesting PE firms improve management practices throughout the organization

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working paper series / Rock Center for Corporate Governance ; 156
    Rock Center for Corporate Governance at Stanford University Working Paper ; No. 156
    Subjects: Private Equity; Gastgewerbe; Dienstleistungsqualität; Franchising; Florida
    Scope: Online-Ressource (44 S.), Ill., graph. Darst., Kt.
  5. Financial constraints and moral hazard
    the case of franchising
    Author: Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine
    Published: 2013
    Publisher:  Centre for Economic Policy Research, London

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 32 (9728)
    Inter-library loan:
    Unlimited inter-library loan, copies and loan
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Array ; 9728
    Subjects: Finanzierung; Liquiditätsbeschränkung; Franchising; Kreditsicherung; Moral Hazard; Unternehmenswachstum; Theorie; Schätzung; USA
    Scope: 45 S., graph. Darst.
    Notes:

    Parallel als Online-Ausg. erschienen