El rendimiento de las franquicias en mercados emergentes a partir del enfoque de agencia. El caso de Brasil

Abstract

The present study contributes to the literature of Latin American franchises due to the lack of studies on this type of business in emerging markets. Based on agency theory, the analytical part of the article surveys the vast literature devoted to franchising and performance. Using Brazilian dataset between 1999 and 2018, this article provides evidence franchising generates better performance that own business format. The study of franchising in Latin American emerging markets opens new perspectives for entrepreneurs in order to invest in this kind of markets