This paper analyzes the impact of foreign presence on growth and survival of domestic firms,while separating the two opposing effects of foreign presence: a negative "crowding out" and positive "technology spillovers". I focus on the question whether crowding out effect is dynamic, i.e. domestic...

How does foreign direct investment (FDI) affect industry dynamics? In this paper, we analyze the impact of FDI on domestic firm entry in 245 industries in the Czech Republic during 1994 to 2000. We find that larger foreign presence stimulates the entry of domestic firms within the same industry...

This paper analyzes the survival and growth of franchised chains using an unbalanced panel dataset that covers about 1000 of them each year from 1980 to 2001. We do this in part because franchised chains are an important segment of the retail sector, which has received relatively little...

We examine whether the effects of firm age and size on survival and growth found in studies of manufacturing firms 1- hold also in retailing, 2- are a reflection of underlying firm-specific efficiency, per models such as Jovanovic's (1982), or play a separate role from other firm characteristics...

We use a unique proprietary monthly panel data set on the operations of a large hotel firm to study the effect of vertical integration decisions on the pricing and performance (occupancy rate and RevPar) of individual hotels. Aggregate data patterns ndash; which managers pay most attention to...

The relational contracts literature suggests that a principal can improve contract self-enforceability by specifying initial requirements that increase the agent's ex-post rents. Initial requirements specified in hotel franchise agreements — size and quality-tier of hotel — offer a unique...

We study the performance of investments made at different points of an investment cycle. We use a large data set covering hotels in the U.S., with rich details on their location, characteristics and performance. We find that hotels built during hotel construction booms underperform their peers....

While there has been extensive research on the impact of minimum wages on employment and wages, there has been little on the impact on firm performance, prices, and quality. Exploiting the staggered changes in minimum wages in the US over 2000 to 2008 and using comprehensive data on the hotel...

Estimating how scale and scope affect the performance of multi-product firms has been a challenge. We argue that because franchised chains are fundamentally single-product entities, we can use data on franchised chains and their parents to clearly distinguish scale and scope, and assess their...