Hybrid organizational forms such as franchise systems join two or more independent parties under a contract. The ability of each party to achieve its goals depends upon the relative bargaining power in the relationship established by the contract. Using transaction cost economics and Porter's...

We review and develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources and skills, and the processes of discovery and creativity, which constitute the heart of entrepreneurship. First, we establish the fundamental importance of subjectivity in...

Why firms and individuals reveal information is the subject of considerable theoretical research, but little empirical work has been possible due to a lack of suitable data. In this paper we examine why entrepreneurs selling business opportunities (franchisors) reveal information regarding...