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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...
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An agency relationship exists whenever one party (the principal) delegates authority to another (the agent). Because agents are assumed to be self-interested and to possess goals that diverge from the principal's goals, the principal must expend resources (called agency costs) to insure that...
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