Franchising system continues its unstoppable advance worldwide, as in the most commercially developed countries as in those that have some more antiquated commercial structures. For that reason, nowadays, this is an important research topic in the business area. Franchising chains expand...

The present work establishes the main structural characteristics of Cooperatives first grade under the postulates of The Agency Theory. Based in our analysis we conclude a series of structural shortcomings related with agency problems. Moreover, possible solutions to these are proposed.