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Title: Ownership, Agency and Wages: An Examination of the Fast Food Industry
Authors: Krueger, Alan B.
Keywords: agency
efficiency wages
fast food
wage differentials
Issue Date: 1-Sep-1987
Citation: Quarterly Journal of Economics, Vol. 106, no. 1, February, 1991
Series/Report no.: Working Papers (Princeton University. Industrial Relations Section) ; 226
Abstract: This paper examines the determinants of wages and fringe benefits in the fast food industry- The focus of the paper is on exploring differences between company-owned and franchised restaurants because agency problems are likely to affect the management and operation of company-owned restaurants- Empirical analysis of two data sets finds that total labor compensation for non-management employees is slightly greater at company-owned outlets than franchisee-owned outlets, all else held constant. Furthermore, workers’ wages grow more rapidly over time at company-owned restaurants than franchisee-owned restaurants- In addition, the results suggest that wage differentials for race, sex and marital status are small in the fast food industry relative to other industries.
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