全球智库信息集成服务系统(G2TT): DP13190 In-House and Arm's Length: Productivity Heterogeneity and Variation in Organizational Form.

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP13190
	DP13190 In-House and Arm's Length: Productivity Heterogeneity and Variation in Organizational Form.
	Catherine Thomas; Stephen Lin; Arturs Kalnins
发表日期	2018-09-19
出版年	2018
语种	英语
摘要	This paper analyzes how firms are organized in the U.S. hotel management industry. For most hotel brands, properties with intermediate room occupancy rates are relatively more likely to be managed by company employees rather than by independent franchisees. Properties with the lowest and the highest occupancy rates tend to be managed by franchisees, at arm's length from the hotel chain. This variation in organizational form is consistent with a model in which the incentives embodied in management contracts vary with property-level productivity. We infer that most hotel chains franchise low productivity relationships to keep property-level fixed costs low and franchise the most productive relationships to create high powered incentives for franchisees. Franchisees of high-productivity properties work harder than the managers of both chain-managed properties and low-productivity franchises because the performance incentives in franchise contracts are proportional to hotel revenues and complement the incentives arising from having control over the property.
主题	Industrial Organization
关键词	Firm heterogeneity Firm structure Incomplete contracts Outsourcing
URL	https://cepr.org/publications/dp13190
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/541993
推荐引用方式 GB/T 7714	Catherine Thomas,Stephen Lin,Arturs Kalnins. DP13190 In-House and Arm's Length: Productivity Heterogeneity and Variation in Organizational Form.. 2018.