Making new franchise systems work
研究了新特许经营体系如何通过降低代理成本来提高生存率，基于九项假设中的六项得到实证支持，对特许经营者和研究者有参考价值。
This paper argues that new franchise systems are more likely to survive if they are structured to economize on agency costs. After controlling for industry effects, and firm age and size, this paper shows empirical support for six of nine hypotheses about the linkage between mechanisms for economizing on agency costs and the survival of new franchise systems. © 1998 by John Wiley & Sons, Ltd.