Arruñada, Benito; Vázquez, Luis; Zanarone, Giorgio - In: Managerial and Decision Economics 30 (2009) 1, pp. 15-26
We study the effect of organizational choice and institutions on the performance of Spanish car dealerships. Using outlet-level data from 1994, we find that vertically integrated dealerships showed substantially lower labor productivity, higher labor costs and lower profitability than franchised...