Nirvana efficiency: A comparative test of residual claims and routines

Journal of Economic Behavior and Organization

Volumn 38, Issue 4, 1999, Pages 365-383

  Knott, Anne Marie ^a   McKelvey, Bill ^b  

^a UNIVERSITY OF PENNSYLVANIA   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Agency theory; Efficiency; Franchise; Residual claims; Routines

Indexed keywords

EID: 0008584135     PISSN: 01672681     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0167-2681(99)00016-5     Document Type: Article

References (60)

1. Alchian, A., 1965. The basis of some recent advances in theory of management of the firm. Journal of Industrial Economics 14, 30-41.
2. Arrow, K., 1962. The economic implications of learning by doing, Review of Economic Studies, 155-173.
3. Barnard, C., 1938. The Functions of the Executive, Harvard University Press, Cambridge, MA.
4. Baumol, W., 1962. On the theory of expansion of the firm. American Economic Review 52, 1078.
5. Berle, A., Means, G., 1932. The Modern Corporation and Private Property, Macmillan, New York.
6. Bradach, J., Eccles, R., 1989. Price, authority and trust: From ideal types to plural forms. Annual Review of Sociology 15, 97-118.
7. Brickley, J., Dark, F., 1987. Choice of organizational form: Case of franchising. Journal of Financial Economics 48, 401-420.
8. Brickley, J., Dark, F., Weisbach, N., 1991. An agency perspective on franchising. Financial Management 20, 27-35.
9. Caves, R., Murphy, W., 1976. Franchising: Firms, markets and intangible assets. Southern Economic Journal 42, 572-586.
10. Cyert, R., March, J., 1963. A Behavioral Theory of the Firm, Prentice-Hall, Englewood Cliffs, NJ.
11. Dant, R., Kaufmann, P., Paswan, A., 1992. Ownership redirection in franchised channels. Journal of Public Policy and Marketing 11(1), 33-44.
12. Darr, E., Argote, L., Epple, D., 1995. The acquisition, transfer and depreciation of knowledge in service organizations: Productivity in franchises. Management Science 41(11), 1750-1762.
13. Debreu, G., 1959. Theory of Value, Yale University Press, New Haven, CT.
14. Demsetz, H., 1969. Information and efficiency: Another viewpoint. Journal of Law and Economics 12, 1-22.
15. Fama, E., 1980. Agency problems and the theory of the firm. Journal of Political Economy 88, 288-307.
16. Fried, H., Lovell, C., Schmidt, S. (Eds.), 1993. The Measurement of Productive Efficiency, Oxford University Press, New York.
17. Gallini, N., Lutz, A., 1992. Dual Distribution and royalty fees in franchising. Journal of Law, Economics and Organization 8(3), 471-501.
18. Ghemawat, P., 1991. Commitment: The Dynamic of Strategy, The Free Press, New York.
19. Gordon, R., 1945. Business Leadership in the Large Corporation, Brookings Institution, Washington, DC.
20. Greene, W., 1993. The econometric approach to efficiency analysis, In: Fried, H., Lovell, C., Schmidt, S. (Eds.), The Measurement of Productive Efficiency, Oxford University Press, New York.
21. Itami, H., 1987. Mobilizing Invisible Assets, Harvard University Press, Cambridge, MA.
22. Jensen, M., Meckling, W., 1976. Theory of the firm: Managerial behavior, agency costs and capital structure. Journal of Financial Economics 3, 305-360.
23. Katz, D., Kahn, R.L., Adams, J.S. (Eds.), 1980. The Study of Organizations, Jossey-Bass, San Francisco, CA.
24. Lafontaine, F., 1992. Agency theory and franchising: Some empirical results. Rand Journal of Economics 23, 263-283.
25. Lewellen, W., 1969. Management and ownership in the large firm. Journal of Finance 24, 299-322.
26. Lowery, K., 1994. The wide world of franchise printing. Quick Printing 17(7), 22-29.
27. Litterer, J.A., 1969. Organizations, vols. I and II, 2nd edn., Wiley, New York.
28. March, J.G., 1965. Handbook of Organizations, Rand McNally, Chicago, IL.
29. March, J.G., Simon, H.A., 1958. Organizations, Wiley, New York.
30. Marris, R., 1964. Economic Theory of Managerial Capitalism, Macmillan, London.
31. Martin, R.E., 1988. Franchising and risk management. American Economic Review 78, 954-968.
32. Martin, R.E., 1996. The market for franchise opportunities. Bulletin of Economic Research 48(2), 3307-3378.
33. Martin, S.B., 1993. Worldwide Franchise Directory, Gale Research, Detroit, MI.
34. Mathewson, F., Winter, R., 1985. The economics of franchise contracts. Journal of Law and Economics 28(100), 503-526.
35. Michaud, A., 1993. Quick Printers Reproduce Too Fast, Then Fade, Los Angeles Times, July 18, D1.
36. Minkler, A., 1988. An empirical analysis of a firms decision to franchise. Economic Letters 34, 77-82.
37. NAQP (National Association of Quick Printers), 1992. Operating Ratio Study, NAQP, Chicago, IL.
38. NAQP, (National Association of Quick Printers), 1994. Operating Ratio Study, NAQP, Chicago, IL.
39. Nelson, R., Winter, S., 1982. An Evolutionary Theory of Economic Change, Harvard University Press, Cambridge, MA.
40. Norton, S.W., 1988. An empirical look at franchising as an organizational form, Journal of Business, 197.
41. Nystrom, P.C., Starbuck, W.H. (Eds.), 1981. Handbook of Organization Design, vols. 1 and 2, Oxford University Press, New York.
42. Oxenfeldt, A., Kelly, A., 1968. Will successful franchise systems ultimately become wholly-owned chains? Journal of Retailing 44, 69-83.
43. Porter, M., 1974. Consumer behavior, retailer power and market performance in consumer goods industries. The Review of Economics and Statistics 56(4), 419-436.
44. Ross, S.A., 1973. The economic theory of agency: The principals problem. American Economic Review 63, 134-139.
45. Rubin, P., 1978. Theory of the firm and the structure of the franchise contract. Journal of Law and Economics 21, 223-233.
46. Rumelt, R.P., 1987. Theory, strategy and entrepreneurship, In: Teece, D. (Ed.), Competitive Challenge: Strategies for Industrial Innovation and Renewal, Ballinger, New York.
47. Schonfield and Associates, 1992. IRS Corporate Financial Ratios, Schonfield and Associates Inc., Lincolnshire, IL.
48. Scott, F., 1995. Franchising vs. company ownership as a decision variable of the firm. Review of Industrial Organization 10, 69-81.
49. Selznick, P., 1957. Leadership in Administration, Harper and Row, New York.
50. Shelton, J., 1967. Allocative efficiency vs. x-efficiency: Comment. American Economic Review 57, 1252-1258.
51. Simon, H.A., 1945. Administrative Behavior, Macmillan, New York.
52. Smith, A., 1776. The Wealth of Nations, Penguin Books, London.
53. Thompson, R., 1992. Company ownership vs. franchising: Issues and evidence. Journal of Economic Studies 19(4), 31-42.
54. U.S. Department of Commerce, 1987. Franchising in the Economy, U.S. Government Printing Office.
55. U.S. Department of Commerce, 1991. Franchise Opportunities Handbook, U.S. Government Printing Office.
56. Veblen, T., 1923. Absentee Ownership and Business Enterprise in Recent Times, Sentry Press, New York.
57. Wattel, H., 1968. Are franchisors realistic and successful in their selection of franchisees?.
58. Williams, D., 1994. Why do entrepreneurs become franchisees?: An empirical analysis of organizational choice, U.S. Census Bureau working paper, Washington, DC.
59. Williamson, O., 1964. Economics of Discretionary Behavior, Prentice-Hall, Englewood Cliffs, NJ.
60. Winter, S.G., 1987. Knowledge and competence as strategic assets, In: Teece, D. (Ed.), Competitive Challenge: Strategies for Industrial Innovation and Renewal, Ballinger, New York.