Not much is known about the primary drivers of performance in franchising systems. With some notable exceptions, much of the franchising literature on performance related issues has focused on either contrasting failure rates of independent small businesses and entrepreneurs with those of...

How do firms' partnering strategies impact the size of their partner-based retail networks? We draw on agency theory to address this question in the context of franchising. Our econometric analyses, (based on nine years of longitudinal balanced panel data), include assessment of data...

This paper uses historical data from the United States to investigate the simple Keynesian consumption-income relationship. When structural breaks are taken into account, the theory of the simple Keynesian consumption function performs quite well in describing what is seen in the US data....

In this paper, we propose two classes of test statistics for detecting a break at an unknown date in panel data models with time trend. The first one is the fluctuation test of Ploberger-Kramer-Kontrus (1989). The second one is based on the mean and exponential Wald statistics of Andrew and...

In this paper we study the limiting distributions for ordinary least squares (OLS),fixed effects (FE), first difference (FD), and generalized least squares (GLS) estimators in a linear time trend regression with a one-way error component model in the presence of serially correlated errors. We...

Using recent data, this paper investigates whether changes in oil prices have the expected effects on the US economy. Cointegration analysis and vector error correction models are employed in order to evaluate the impact of changing oil prices on US output and inflation. Further, impulse...

Gender differences in outcomes are often explained by gender differences in competitiveness. Using evidence from the outdoor World Championships and Olympics 1,500 meter event, this paper investigates whether gender differences exist in the behavior of runners. Results indicate that there are...