Contract Duration: Evidence From Franchising

Topics:
Negotiations and Contracts
Tags:
Duration,
Human Capital,
Human Resources,
University Of Rochester,
Workforce Management
Source:
University of Rochester

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Overview: Economists generally view standard franchise contracts as efficient, while franchisee advocates view them as exploitive. Consistent with the economic view, it was found that contract duration is positively and significantly related to the franchisee's physical and human capital investments (which are often firm specific). In contrast to assertions by franchisee advocates, it was found that these relations exist in subsamples containing only the most established franchisors (as measured by size and experience) and that larger, more experienced franchisors tend to offer longer-term contracts than do newer franchisors. The evidence also suggests that there is learning across firms about optimal contract terms.

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Format: PDF | Size: 123KB | Date: May 2006 | Pages: 24

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