Background:For over 40 years,the franchise ownership redirection hypothesis has attracted the attention of many scholars.This study,differing from previous ones,proposes an alternative approach for this hypothesis usi...Background:For over 40 years,the franchise ownership redirection hypothesis has attracted the attention of many scholars.This study,differing from previous ones,proposes an alternative approach for this hypothesis using a real options framework with the extension of agency theory.Method:The real options model is built using the least square Monte Carlo method,where the franchisor’s decision to franchise is perceived as a deferred investment while maintaining the right of future acquisition.Result:Tested using monte carlo simulation based hypothetical case,the model shows a different result from classical real options call model.This is mainly due to franchise contractual arrangement,where royalty fee lower the threshold of acquisition cost in converting the franchise outlet to company owned.Conclusion:The aim of this study is to create an analytical framework that helps a franchisor decide whether or not toacquire and convert a franchise unit to a company-owned unit at a certain point in time,analyzing the choice as a deferment of investment.The franchisors that faces the opportunity to optimize profit by converting the franchise unit to a company-owned unit should acknowledge it as real options thus negotiate the terms with their franchisees.展开更多
Entrepreneurial skills determine the success or failure of a business operator. Researchers in the field of franchising, however, believe that to succeed as a franchisee, a business operator does not have to have high...Entrepreneurial skills determine the success or failure of a business operator. Researchers in the field of franchising, however, believe that to succeed as a franchisee, a business operator does not have to have high entrepreneurial skill levels. This study, titled ＂Whether Franchisees Can Claim to be Entrepreneurially Skilled--Three-Pronged Perceptions＂, surveyed 32 franchisees, 45 experts, and 64 independent entrepreneurs. It hypothesized that： （1） Independent entrepreneurs have higher skill levels than franchisees; （2） independent entrepreneurs＇ performance is better than franchisees＇ due to the differences in skill levels. Each of the franchisees and independent entrepreneurs was asked to rate themselves on a Likert scale against a list of traits or characteristics believed to determine levels of entrepreneurship. The experts were requested to rank within the scale whether independent entrepreneurs excel in entrepreneurial skills at the expense of franchisees. Franchisees ranked themselves at 3.5, on average, while independent entrepreneurs ranked themselves at 4.2 in the scale 1-5, with 5 indicating highest skill. On this basis, Hypothesis 1 is proved correct, i.e. independent entrepreneurs have higher entrepreneurial skill levels and at least they perceive themselves so. Experts, with an average rating of 3.4 within the scale, also seem to agree that independent entrepreneurs excel in entrepreneurial skills at the expense of franchisees. Using sales revenue and sales per employee as measure of performance, the study established average sales for franchised units at P275,038, while those for independent entrepreneurs were P86,437. Sales per employee ranged between P6 118 and P23,170 for franchised units, and between P8,207 and P 14,281 for independent entrepreneurs. This leads to the rejection of hypothesis 2 （Note： P denotes Botswana Pula. P9,0253 = US$1 as at 09/09/14）. Multivariate tests demonstrated, through Wilk＇s Lambda Test Statistic, that the profiles deviated significantly from parallelism. The study therefore concluded that while independent entrepreneurs are more skilled than franchisees, their performance is inferior to that of franchisees. This conclusion might persuade many countries to promote franchising as a strategy.展开更多
After seven years' development,China Franchise Expo has seen tremendous growth as the Chinese market has opened up to franchising. The organisers report that there are now over 2,1oo franchise systems operating in...After seven years' development,China Franchise Expo has seen tremendous growth as the Chinese market has opened up to franchising. The organisers report that there are now over 2,1oo franchise systems operating in China,with over 12o,ooo franchisees which have generated 2.4 million jobs and made an investment of RMB6o billion (approximately C6.25 billion or US$7.4 billion).……展开更多
The investment strategy choice of state-owned commercial bank is related to its franchise value change information. This paper analyzes the franchise value change information of state-owned commercial bank. The franch...The investment strategy choice of state-owned commercial bank is related to its franchise value change information. This paper analyzes the franchise value change information of state-owned commercial bank. The franchise value change information shows that the franchise value of state-owned Commercial Bank is descending. Along with the descending of the franchise value, state-owned commercial bank strengthens its high risk investment motive when it chooses its investment strategy. State-owned commercial bank tends to run the high risk of investing securities because its investment variety is very sparse. Based on the theoretical principle of how to control securities investment risk, this paper proposes some countermeasures and suggestions that state-owned commercial bank strengthen the control of its securities investment risk in order to perfect its investment strategy.展开更多
In order to provide more convenient conditions for citizens on the mainland of China to travel to the Hong Kong and Macao special administrative regions, the relevant department of the State Council, after consultatio...In order to provide more convenient conditions for citizens on the mainland of China to travel to the Hong Kong and Macao special administrative regions, the relevant department of the State Council, after consultations with the Hong Kong Special Administrative Region, has decided to grant franchise to 67 more展开更多
The purpose of this study is to collect data from the owners of food cart businesses.This study benefits the franchisors in a way of learning the importance of the support,brand recognition,and retention of a franchis...The purpose of this study is to collect data from the owners of food cart businesses.This study benefits the franchisors in a way of learning the importance of the support,brand recognition,and retention of a franchise business.This may also convince young or future entrepreneurs to consider that franchising is a starting business amidst pandemic.Descriptive research is used in the study.The main instrument used of gathering data was questionnaire.In this study,the Pearson’s correlation shows that the dependent and independent variables are highly correlated in which the brand recognition and perceived franchise support have an effect to the intention of retaining the franchise system positively and significantly.Furthermore,franchisor considers the opinion of the franchisee that they care about the general satisfaction and does not take advantage of the franchisee.The brand recognition is strong,as well as respected and considered it as an asset of the franchise business.The study also shows that the franchisee has the intention of retaining the franchise system and consider of introducing the franchise system to others as they consider it as their first priority.展开更多
For Chinese power enterprises,investing overseas and actively seeking international cooperation in energy resources for mutual benefit accords with not only the desires of themselves to become bigger and stronger,but ...For Chinese power enterprises,investing overseas and actively seeking international cooperation in energy resources for mutual benefit accords with not only the desires of themselves to become bigger and stronger,but also China's energy strategy. Having won the first overseas state-level power-grid operation right,the State Grid Corporation of China (SGCC) took the lead in carrying out the strategy of "going out."展开更多
1. Organized and attended the Discussion on "Measures for Administration of Commercial Franchise Operations" with Ministry of Commerce in January, 2005.
……
The Laibin B Thermal Power Plant in Guangxi Zhuang Autonotnous Region will be built under China’s BOT-build. operate. transfer. It in the first power plant of its kind in China. The Laibin B Power Plant will install ...The Laibin B Thermal Power Plant in Guangxi Zhuang Autonotnous Region will be built under China’s BOT-build. operate. transfer. It in the first power plant of its kind in China. The Laibin B Power Plant will install two 350 MW generating units and is planned to go into commercial operation in 2000. The first unit is scheduled to go on line in October 1999.展开更多
文摘Background:For over 40 years,the franchise ownership redirection hypothesis has attracted the attention of many scholars.This study,differing from previous ones,proposes an alternative approach for this hypothesis using a real options framework with the extension of agency theory.Method:The real options model is built using the least square Monte Carlo method,where the franchisor’s decision to franchise is perceived as a deferred investment while maintaining the right of future acquisition.Result:Tested using monte carlo simulation based hypothetical case,the model shows a different result from classical real options call model.This is mainly due to franchise contractual arrangement,where royalty fee lower the threshold of acquisition cost in converting the franchise outlet to company owned.Conclusion:The aim of this study is to create an analytical framework that helps a franchisor decide whether or not toacquire and convert a franchise unit to a company-owned unit at a certain point in time,analyzing the choice as a deferment of investment.The franchisors that faces the opportunity to optimize profit by converting the franchise unit to a company-owned unit should acknowledge it as real options thus negotiate the terms with their franchisees.
文摘Entrepreneurial skills determine the success or failure of a business operator. Researchers in the field of franchising, however, believe that to succeed as a franchisee, a business operator does not have to have high entrepreneurial skill levels. This study, titled ＂Whether Franchisees Can Claim to be Entrepreneurially Skilled--Three-Pronged Perceptions＂, surveyed 32 franchisees, 45 experts, and 64 independent entrepreneurs. It hypothesized that： （1） Independent entrepreneurs have higher skill levels than franchisees; （2） independent entrepreneurs＇ performance is better than franchisees＇ due to the differences in skill levels. Each of the franchisees and independent entrepreneurs was asked to rate themselves on a Likert scale against a list of traits or characteristics believed to determine levels of entrepreneurship. The experts were requested to rank within the scale whether independent entrepreneurs excel in entrepreneurial skills at the expense of franchisees. Franchisees ranked themselves at 3.5, on average, while independent entrepreneurs ranked themselves at 4.2 in the scale 1-5, with 5 indicating highest skill. On this basis, Hypothesis 1 is proved correct, i.e. independent entrepreneurs have higher entrepreneurial skill levels and at least they perceive themselves so. Experts, with an average rating of 3.4 within the scale, also seem to agree that independent entrepreneurs excel in entrepreneurial skills at the expense of franchisees. Using sales revenue and sales per employee as measure of performance, the study established average sales for franchised units at P275,038, while those for independent entrepreneurs were P86,437. Sales per employee ranged between P6 118 and P23,170 for franchised units, and between P8,207 and P 14,281 for independent entrepreneurs. This leads to the rejection of hypothesis 2 （Note： P denotes Botswana Pula. P9,0253 = US$1 as at 09/09/14）. Multivariate tests demonstrated, through Wilk＇s Lambda Test Statistic, that the profiles deviated significantly from parallelism. The study therefore concluded that while independent entrepreneurs are more skilled than franchisees, their performance is inferior to that of franchisees. This conclusion might persuade many countries to promote franchising as a strategy.
文摘After seven years' development,China Franchise Expo has seen tremendous growth as the Chinese market has opened up to franchising. The organisers report that there are now over 2,1oo franchise systems operating in China,with over 12o,ooo franchisees which have generated 2.4 million jobs and made an investment of RMB6o billion (approximately C6.25 billion or US$7.4 billion).……
文摘The investment strategy choice of state-owned commercial bank is related to its franchise value change information. This paper analyzes the franchise value change information of state-owned commercial bank. The franchise value change information shows that the franchise value of state-owned Commercial Bank is descending. Along with the descending of the franchise value, state-owned commercial bank strengthens its high risk investment motive when it chooses its investment strategy. State-owned commercial bank tends to run the high risk of investing securities because its investment variety is very sparse. Based on the theoretical principle of how to control securities investment risk, this paper proposes some countermeasures and suggestions that state-owned commercial bank strengthen the control of its securities investment risk in order to perfect its investment strategy.
文摘In order to provide more convenient conditions for citizens on the mainland of China to travel to the Hong Kong and Macao special administrative regions, the relevant department of the State Council, after consultations with the Hong Kong Special Administrative Region, has decided to grant franchise to 67 more
文摘The purpose of this study is to collect data from the owners of food cart businesses.This study benefits the franchisors in a way of learning the importance of the support,brand recognition,and retention of a franchise business.This may also convince young or future entrepreneurs to consider that franchising is a starting business amidst pandemic.Descriptive research is used in the study.The main instrument used of gathering data was questionnaire.In this study,the Pearson’s correlation shows that the dependent and independent variables are highly correlated in which the brand recognition and perceived franchise support have an effect to the intention of retaining the franchise system positively and significantly.Furthermore,franchisor considers the opinion of the franchisee that they care about the general satisfaction and does not take advantage of the franchisee.The brand recognition is strong,as well as respected and considered it as an asset of the franchise business.The study also shows that the franchisee has the intention of retaining the franchise system and consider of introducing the franchise system to others as they consider it as their first priority.
文摘For Chinese power enterprises,investing overseas and actively seeking international cooperation in energy resources for mutual benefit accords with not only the desires of themselves to become bigger and stronger,but also China's energy strategy. Having won the first overseas state-level power-grid operation right,the State Grid Corporation of China (SGCC) took the lead in carrying out the strategy of "going out."
文摘 1. Organized and attended the Discussion on "Measures for Administration of Commercial Franchise Operations" with Ministry of Commerce in January, 2005.
……
文摘The Laibin B Thermal Power Plant in Guangxi Zhuang Autonotnous Region will be built under China’s BOT-build. operate. transfer. It in the first power plant of its kind in China. The Laibin B Power Plant will install two 350 MW generating units and is planned to go into commercial operation in 2000. The first unit is scheduled to go on line in October 1999.
