Synergy of restaurant internationalization and franchising on the firm’s value

초록

The purpose of this research is to examine the moderating effect of franchising on the association between restaurant internationalization and financial performance. The sample was publicly traded restaurant firms in the US stock market (e.g., NYSE, NASDAQ, and AMEX). The information was derived from COMPUSTAT and annual 10K. For the restaurant industry specific information, we employed standard industry classification (SIC) code 5812. The study period was 2000–2013, and 29 restaurant companies were used. For the measurement of financial performance, this research selected Tobin’s Q. Feasible generalized least-squares (FGLS) was used to analyze the data. The results suggest that restaurant franchising positively moderates the relation between internationalization and financial performance.

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