haku: @author Price, R. / yhteensä: 4
viite: 2 / 4
| Tekijä: | Price, R. |
| Otsikko: | Who reports earnings when reporting is optional? The market for new franchises |
| Lehti: | Journal of Accounting & Economics
1999 : DEC, VOL. 28:3, p. 391-423 |
| Asiasana: | Industries Retailing Franchising Earnings Disclosure USA |
| Kieli: | eng |
| Tiivistelmä: | When a franchisor offers to sell new franchises, disclosures relevant to the earnings of franchise units are optional. This study finds that the 26 % of franchisors volunteering earnings-related information tend to impose greater investment risk on new franchisees in the form of higher contractual payments and greater product demand uncertainty. It is also found that larger franchise systems, which collect data from more locations and therefore have more precise proprietary information, are less likely to disclose. This finding is contrary to what has been observed in the securities market, where large firms are associated with more voluntary disclosure. |
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