We use a unique proprietary panel data set from a large hotel company to study how organizational form affects hotel pricing and performance. Aggregate data patterns suggest sizable performance differences between franchised and company-operated hotels. However, after controlling for other...

<heading id="h1" level="1" implicit="yes" format="display">Abstract</heading> Using data on franchised chains, which are the type of single-product entities emphasized in industry dynamics models, we show that age and size affect growth and survival even after controlling for chain characteristics and unobserved chain-specific efficiency. This implies that age...

We discuss recent research on the growth of chains in the retail and service sectors, and point out the role of franchising in these industries, using new data on franchising collected by the U.S. Census Bureau. We then discuss several topics that one can analyze with data on chains, and...

In the standard durable goods-quality model, the prospect of repeat sales often supports the provision of high-quality durable goods. When durable goods require costly post-sale service, however, a reputational equilibrium may not exist at any price, even with a flow of profitable new sales...

I examine how foreign presence affects the growth and survival of domestic firms. Separating a negative crowding out and positive technology spillovers, I analyze whether the crowding out effect is dynamic, that is, domestic firms cut production over time as foreign firms grow, or a static...