franchising firms create more market and economic value than do non-franchising firms. Key words: Franchising, Financial Performance, Restaurant Sector, Economic Value Added, Market Value Added. 2 DOES FRANCHISING CREATE VALUE? AN ANALYSIS OF THE FINANCIAL PERFORMANCE OF US PUBLIC RESTAURANT FIRMS INTRODUCTION Franchising has grown so fast since the 1950s that it is now pervasive in the US economy. In a recent study commissioned by the International Franchise Association, PriceWaterhouseCoopers…
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