Organizational Design and Control across Multiple Markets: The Case of Franchising in the Convenience Store Industry

Many companies operate units which are dispersed across different types of markets, and thus serve significantly diverging customer bases. Such market-type dispersion is likely to compromise the headquarters' ability to control its local managers' behavior and satisfy the divergent needs of different types of customers. In this paper we find evidence that market-type dispersion is an important determinant of delegation and the provision of incentives. Using a sample of convenience store chains, we show that market-type dispersion is related to the degree of franchising at the chain level as well as the probability of franchising a given store within a chain. Our results are robust to alternative definitions of market-type dispersion and to other determinants of franchising such as the stores' geographic distance from headquarters and geographic dispersion. Additional analyses also suggest that chains that do not franchise at all, may cope with market-type dispersion by decentralizing operations from headquarters to their stores, and, to a weaker extent, by providing higher variable pay to their store managers.Control, Market Dispersion, Decentralization, Incentives, Franchising, Retailing

Cost accounting: a manegerial emphasis - 9/E.

Studying cost accounting is one of the best business decisions a student can make. Why? Because success in any business- from the smallest corner store to the largest multinational corporation- requires the use of cost accounting principel and pratices. Cost accounting provides key data to manager for planning and controlling, as well as for costing products, services and customers. Today expecially, as more and more cost accountant are being called on to become decisions makers instead of data provider, our theme of different cost for different purposes, wich we stress throughout the book, is essential for a thorough and useful accounting education. By focusing on basic concept, analyses, uses, and procedures instead of procedures alone. We recognize cost accounting as a managerial tool for business strategy and implementation, and we also prepare student for the rewards and challenges facing them in the world of professional cost accounting both today and tomorrow

Approximately Minwise Independence with Twisted Tabulation

A random hash function $h$ is $\varepsilon$-minwise if for any set $S$, $|S|=n$, and element $x\in S$, $\Pr[h(x)=\min h(S)]=(1\pm\varepsilon)/n$. Minwise hash functions with low bias $\varepsilon$ have widespread applications within similarity estimation. Hashing from a universe $[u]$, the twisted tabulation hashing of P\v{a}tra\c{s}cu and Thorup [SODA'13] makes $c=O(1)$ lookups in tables of size $u^{1/c}$. Twisted tabulation was invented to get good concentration for hashing based sampling. Here we show that twisted tabulation yields $\tilde O(1/u^{1/c})$-minwise hashing. In the classic independence paradigm of Wegman and Carter [FOCS'79] $\tilde O(1/u^{1/c})$-minwise hashing requires $\Omega(\log u)$-independence [Indyk SODA'99]. P\v{a}tra\c{s}cu and Thorup [STOC'11] had shown that simple tabulation, using same space and lookups yields $\tilde O(1/n^{1/c})$-minwise independence, which is good for large sets, but useless for small sets. Our analysis uses some of the same methods, but is much cleaner bypassing a complicated induction argument.Comment: To appear in Proceedings of SWAT 201