This study investigates the performance of franchise networks through the lens of the resource-based and real options theory. First, according to the resource-based view, we argue that the intangible resources of the franchisor (system-specific know-how and brand name) and the intangible...

This paper works out a conceptual framework for studying the performance of franchising networks. Franchising networks, which originally developed in the context of Western economies, are currently operating in transition economies as well. Some franchising networks fail and some succeed. The...