In this paper, we examine the evolution of multi-unit franchising (MUF) research and develop an integrative model for the franchisor's choice of ownership strategy between single-unit and multi-unit franchising. Although several empirical studies were published on MUF in the last two decades,...

The relationship between risk and incentives in franchise contracting is still an unsolved issue in the literature. According to the standard principal-agent model, a trade-off emerges between the franchisee's protection against risk and incentive motivation. Contrary to this traditional view,...