20 results found
Kosova R, Sertsios G, 2018, An empirical analysis of self-enforcement mechanisms: evidence from hotel franchising, Management Science, Vol: 64, Pages: 43-63, ISSN: 1526-5501
The relational contracts literature suggests that a principal can improve contract self-enforceability by specifying initial requirements that increase the agent’s ex-post rents. Initial requirements specified in hotel franchise agreements — size and quality-tier of hotel — offer a unique empirical setting to test this. Using proprietary data on 5,547 new franchised hotels and their revenues, we find that hotels far away from their franchisor’s headquarters are larger, more likely to belong to a high-quality tier, and generate higher revenues ex-post. This supports the idea that the agent’s ex-post rents can serve as a substitute to the principal’s monitoring intensity in the mitigation of agency problems. Our findings shed light on how formal contract terms can influence informal (relational) contracts between business partners.
We study the performance of investments made at different points of an investment cycle. We use a large data set covering hotels in the U.S., with rich details on their location, characteristics and performance. We find that hotels built during hotel construction booms underperform their peers. For hotels built during local hotel construction booms, this underperformance persists for several decades. We examine possible explanations for this long-lasting underperformance. The evidence is consistent with information-based herding explanations.
Freedman M, Kosova R, 2014, Agency and Compensation: Evidence from the Hotel Industry, Journal of Law, Economics, and Organization, Vol: March 30, Pages: 72-103, ISSN: 8756-6222
Kosová R, Lafontaine F, Perrigot R, 2013, Organizational Form and Performance: Evidence from the Hotel Industry, Review of Economics and Statistics, Vol: 95, Pages: 1303-1323, ISSN: 0034-6535
Kadiyali V, Kosova R, 2013, Inter-industry employment spillovers from tourism inflows, REGIONAL SCIENCE AND URBAN ECONOMICS, Vol: 43, Pages: 272-281, ISSN: 0166-0462
Masten SE, Kosova R, 2013, Post-sale service and the limits of reputation, Industrial and Corporate Change, Vol: Forthcoming., ISSN: 0960-6491
Kosova R, Enz CA, 2012, The Terrorist Attacks of 9/11 and the Financial Crisis of 2008: The Impact of External Shocks on U.S. Hotel Performance, CORNELL HOSPITALITY QUARTERLY, Vol: 53, Pages: 308-325, ISSN: 1938-9655
Kosova R, LaFontaine F, 2012, Age, Size, and Survival and Growth of Franchise Chains, Publisher: Center for Hospitality Research -Cornell University
Freedman ML, Kosova R, 2012, Agglomeration, product heterogeneity and firm entry, JOURNAL OF ECONOMIC GEOGRAPHY, Vol: 12, Pages: 601-626, ISSN: 1468-2702
Kosova R, Lafontaine F, 2012, Much ado about chains: A research agenda, INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, Vol: 30, Pages: 303-308, ISSN: 0167-7187
Kosova R, Freedman M, 2012, Benefits from Agglomeration Within and Between Hotel Segments, Publisher: Center for Hospitality Research - Cornell University
Kosova R, LaFontaine F, Zhao B, 2012, Scale, Scope, Ownership Changes, and Performance, Publisher: SSRN Working Paper
Enz CA, Kosova R, Lomanno M, 2011, The Impact of Terrorism and Economic Shocks on U.S. Hotels, Publisher: Center for Hospitality Research -Cornell University
Kosova R, LaFontaine F, 2011, Understanding franchising: A new look at U.S. franchisor activities, Économies et Sociétés, Vol: 45, Pages: 873-892, ISSN: 0013-0567
Kosova R, 2010, DO FOREIGN FIRMS CROWD OUT DOMESTIC FIRMS? EVIDENCE FROM THE CZECH REPUBLIC, REVIEW OF ECONOMICS AND STATISTICS, Vol: 92, Pages: 861-881, ISSN: 0034-6535
Kosova R, Lafontaine F, 2010, SURVIVAL AND GROWTH IN RETAIL AND SERVICE INDUSTRIES: EVIDENCE FROM FRANCHISED CHAINS, JOURNAL OF INDUSTRIAL ECONOMICS, Vol: 58, Pages: 542-578, ISSN: 0022-1821
Kosova R, 2010, Globalization and International Strategies, The Cornell School of Hotel Administration Handbook of Applied Hospitality Strategy, Editors: Enz, Enz, Publisher: SAGE, Pages: 999-1006, ISBN: 9781412905909
Ayyagari M, Kosova R, 2010, Does FDI Facilitate Domestic Entry? Evidence from the Czech Republic, REVIEW OF INTERNATIONAL ECONOMICS, Vol: 18, Pages: 14-29, ISSN: 0965-7576
Kosova R, 2009, Starwood Hotels and Resorts Brings Aloft to India, Hospitality Strategic Management, Editors: Enz, Publisher: John Wiley and Sons, Pages: 552-563, ISBN: 9780470083598
Kosová RK, 2007, Foreign Direct Investment. Six Country Case Studies (Book Review), Comparative Economic Studies, Vol: 49, Pages: 467-469
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