Does Franchising Alleviate Restaurants’ Vulnerability to Economic Conditions?

2015 ◽  
Vol 42 (4) ◽  
pp. 627-648 ◽  
Author(s):  
Yoon Koh ◽  
Yinyoung Rhou ◽  
Seoki Lee ◽  
Manisha Singal
Keyword(s):  
Management Strategy ◽  
Restaurant Industry ◽  
Economic Conditions ◽  
Future Research ◽  
Risk Management Strategy ◽  
Publicly Traded ◽  
Earnings Volatility ◽  
Restaurant Firms ◽  
High Degree

Although the implications of adopting a franchising strategy in the restaurant industry have been examined in previous literature, the role of franchising has mostly been viewed as a means of growth, without much attention paid to its role in reducing risk via alleviating earnings volatility. In this study, we examine whether, and to what extent, franchising in restaurant firms can reduce earnings volatility occurring due to fluctuating economic conditions. Our longitudinal analysis of publicly traded restaurant firms from 1994 to 2012 shows that, during changes in economic conditions, firms adopting a high degree of franchising face lower earnings volatility than firms that adopt a restricted degree of franchising. Our article contributes to the literature on restaurant franchising as a risk-management strategy while providing avenues for future research.

scholarly journals Breaking the Resource Curse: The Role of Natural Resource Funds

2021 ◽  
Vol 4 (2) ◽  
pp. 99-109
Author(s):  
Isaiah Adeleke ◽  
Umaru Mustapha Zubairu
Keyword(s):  
Natural Resource ◽  
Management Strategy ◽  
Resource Curse ◽  
Future Research ◽  
Effective Management ◽  
Journal Articles ◽  
Special Purpose Vehicle ◽  
Resource Governance ◽  
Effective Role

Studies have shown that the paradox of “the more resource-rich the poorer” otherwise known as “resource curse” has been prevalent in many countries endowed with natural resources. To mitigate this trend, a revenue management strategy called Natural Resource Funds (NRFs) - a government owned special-purpose vehicle to ensure effective management of the country’s natural wealth was embraced in some nations. This paper critically reviewed the roles of NRFs in breaking the resource curse. The Systematic Quantitative Assessment Technique (SQAT) was adopted in identifying and reviewing sixty-seven (67) peer reviewed journal articles that had researched on NRFs in the last decade. The findings were that NRFs have played an effective role in some advanced countries (Chile and China), while they have failed, especially in Africa, Middle East and Latin America due to poor institutional framework and governance. A globally set code of resource governance was recommended to strengthen the role of NRFs and enhance their effectiveness. Resource revenue maximization other than revenue utilization would be a good area for future research.

Voting Behaviour

2020 ◽  
pp. 399-411
Author(s):  
Spyros Kosmidis
Keyword(s):  
Research Agenda ◽  
Party Identification ◽  
Economic Conditions ◽  
Future Research ◽  
Voting Behaviour ◽  
Class Membership ◽  
Social Cleavages ◽  
Future Research Agenda ◽  
Cross National

The chapter reviews studies and shows evidence related to several aspects of the voting behaviour of Greek citizens, in contrast to other similar and dissimilar democracies. It begins with a historical overview of social cleavages and their role in determining coalitions amongst different segments of the electorate. It continues to evaluate the role of group (i.e. party identification) and class membership by reviewing national and cross-national research. It also shows empirical evidence using the available data sources. The chapter continues with a review of studies looking into the role of economic conditions in shaping vote choices, and aims to identify a future research agenda.

The Effect of Corporate Social Responsibility on Brand Equity and the Moderating Role of Ethical Consumerism: The Case of Starbucks

2017 ◽  
Vol 42 (7) ◽  
pp. 1130-1151 ◽  
Author(s):  
Jee-Won Kang ◽  
Young Namkung
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Brand Equity ◽  
Restaurant Industry ◽  
Moderating Effects ◽  
Ethical Consumerism ◽  
Managerial Implications ◽  
Corporate Social ◽  
High Degree

This study investigates the effects of customers’ perceptions of multidimensional corporate social responsibility (philanthropic, ethical, legal, and economic) on brand equity in the restaurant industry, specifically by examining the case of Starbucks in Korea. Furthermore, this study examines whether consumers with a high degree of ethical consumerism form more positive brand equity perceptions of restaurants than other consumers do. The results showed that ethical, legal, and economic aspects of corporate social responsibility had a significant influence on consumers’ perceptions of brand equity, while philanthropic corporate social responsibility did not. The analysis of moderating effects showed that consumers with high levels of ethical consumerism exhibit stronger relationships between economic corporate social responsibility and restaurants’ positive brand equity. Theoretical and managerial implications are discussed.

scholarly journals Game theory for the formation of a cluster risk management strategy

2019 ◽  
Vol 138 ◽  
pp. 02005 ◽  
Author(s):  
Yulia Vertakova ◽  
Irina Izmalkova ◽  
Evgeniy Leontyev
Keyword(s):  
Game Theory ◽  
Risk Management ◽  
Economic Activity ◽  
Management Strategy ◽  
Cluster Structure ◽  
Economic Conditions ◽  
Effective Strategy ◽  
Risk Management Strategy ◽  
Actual Direction ◽  
Modern Economic

The actual direction of scientific research in the field of risk management, today, is the formation of an effective strategy for managing the risks of economic activity, taking into account the peculiarities of the activity of the enterprise of the cluster structure in modern economic conditions, characterized by the variability of the economic environment and pronounced crisis phenomena. This article proposes and tests the tools for the formation of an adaptive risk management strategy for enterprises that are part of cluster structures, based on the provisions of game theory.

Trade, Migration and Urban Networks in Port Cities, c. 1640-1940

2008 ◽  
Keyword(s):  
Risk Management ◽  
Management Strategy ◽  
Urban Governance ◽  
Maritime History ◽  
Risk Management Strategy ◽  
Trade Associations ◽  
Urban Networks ◽  
Trade Networks ◽  
The Impact

This study offers an exploration of the role of merchants throughout maritime history through the analysis of maritime trade networks. It attempts to fill in the gaps in the historiography to determine the range of activities that maritime merchants undertook. It is comprised of nine chapters: one introductory, and eight exploring aspects of merchant history across Europe during the period 1640 to 1940. Several major themes recur throughout these studies: the necessity of port networks; the extension of trade networks through merchant migration and in-migration; the assimilation of merchants into port communities; and the impact of urban governance and trade associations on merchant activity. It concludes by claiming merchants across Europe had a more common with one another when approaching risk management than has previously been assumed, and that the at the core of the merchant’s risk management strategy the question of who they could trust with their trade is a universally unifying factor. It suggests that further research on the demographics of ports is the necessary next step in merchant historiography.

Lending Relationship in the Traditional Credit Market — Implications for Credit Risk Management Strategy in Micro Credit Institutions

2021 ◽  
pp. 2150012
Author(s):  
Embun Suryani ◽  
Hermanto ◽  
Siti Aisyah Hidayati ◽  
I Nyoman Nugraha Ardana Putra ◽  
Donny Oktavian Syah
Keyword(s):  
Risk Management ◽  
Management Strategy ◽  
Critical Role ◽  
Credit Rationing ◽  
Microfinance Institutions ◽  
Credit Risk Management ◽  
Risk Management Strategy ◽  
Credit Access ◽  
Credit Term

Asymmetric information increases the credit rationing of micro-enterprises. Lender–borrower relationships help to provide this information, thereby increasing the availability of loans. This study aims to investigate the relationship between micro-lenders and micro clients. It is accomplished by describing how such relationships are developed, and analyzing these relationships’ impact on the availability and credit term using multivariate regression. The results showed that the strength of lender–borrower relationships positively impacted credit access, but it did not significantly impact the credit term. Furthermore, the amount of income and loan purpose, as the proxies of business characteristics, negatively impacted credit access. These results highlight the critical role of the lender–borrower relationship and business characteristics in the risk management strategy and the sustainability of microfinance institutions.

scholarly journals Economic Development and the Regulation of Morally Contentious Activities

2017 ◽  
Vol 107 (5) ◽  
pp. 76-80 ◽  
Author(s):  
Julio J. Elías ◽  
Nicola Lacetera ◽  
Mario Macis ◽  
Paola Salardi
Keyword(s):  
Economic Development ◽  
Conceptual Framework ◽  
Economic Conditions ◽  
Future Research ◽  
Economic Factors ◽  
Ethical Concerns ◽  
Gestational Surrogacy ◽  
The Relationship ◽  
Over Time

The regulation of many activities depends on whether societies consider them morally controversial or “repugnant.” Not only have regulation and related ethical concerns changed over time, but there is also heterogeneity across countries at a given time. We provide evidence of this heterogeneity for three morally contentious activities, abortion, prostitution, and gestational surrogacy, and explore the relationship between a country's economic conditions and how these activities are regulated. We propose a conceptual framework to identify mechanisms that can explain our findings (including the role of non-economic factors), and indicate directions for future research.

Sign in / Sign up

Export Citation Format

Share Document