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Carlos Bulosan's- America Is In The Heart Term Paper Sample

Analysis - america is in the heart by carlos bulosan, free ayala land, inc term paper sample, asian america population term paper sample, introduction.

Asians Americans are those members of the American population whose origin can be traced back to the Middle East and Asia as a whole. It is pertinent to note that this group of the American population identifies itself as Chinese, Indian, Filipino, Japanese, Korean, Vietnamese and many other Asian affiliations . It is, therefore, clear that Asian Americans are drawn from various national backgrounds. Consequently, these immigrants speak a variety of languages and conduct practices that give them a cultural and social identity. This paper seeks to highlight Asian American immigration trend, challenges and contribution to the wider American society.

How Asian Americans came to the United States

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Proper term paper example about mugwumps andamerican imperialism, free the chinese-american experience term paper sample, example of policemen of the world term paper.

The mission of the United States police force on terrorism and threats from countries in the Middle East such as Afghanistan is to foster peaceful coexistence within states and other nations. Their involvement in the provision of humanitarian support to the civilians in Libya during the military crackdown in 2011for instance was contributed to by the foreign policies that arose after the Second World War (Beasley, 2013).

There are international incidences that have involved operation of the United States police force in the past five years include:

Example of academic policemen of the world term paper, policemen of the world, good term paper on weather project.

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• 1. Example Term Paper Format ECON 460 November 19, 2011 Abstract The following paper is an example of the appropriate stlyle, layout and format for an term paper or essay in an economics course. All papers should have a title page that contains the following: 1. Title of the Paper 2. Course Number and Instructor 3. Your name and student number 4. Date Any graphs should be on seperate pages that are not counted as part of the written page requirements. All graphs must be discussed and explained within the body of the text. Newspaper and magazine articles may be cited but do not count as part of the required references. 1
• 2. A REVIEW OF FRANCHISE THEORY INTRODUCTION In service based industries one of the fastest growing forms of market structure is that of franchise agreements. Certain aspects of franchise contracts tend to be idiosyncratic in nature thereby attracting a great deal of interest by academics and business analysts in recent years. Various explanations have been proposed for the widespread use of franchise contracts in certain industries. While a great deal of the franchise contract has been explained in the literature, there remains certain aspects of this form of arrangement that has yet to be addressed. This paper intends to address two of these issues as well as proposing an alternative modelling approach to franchise contracts. The second section of this paper describes the basic structure of franchise con- tracts. The third section discusses the various explanations that have been proposed to explain franchising. The fourth section sets two aspects of the franchise contract that has not been addressed in the literature. The …rst of these is existence of both corporate owned outlets and franchised outlets within the same organization. Some authors have predicted that one form or the other would come to dominate the or- ganization. Others have tried to explain under which conditions one form would be preferred by the parent company (or Franchisor). Yet many organizations exist as a mixture of both types of contracts and have chosen both forms of contract when expanding the number of outlets. The second unexplained observation is apparent rigidity in various organizations’franchise fee structure; both over time and between individual franchisees. This section introduces spatial or geographical considerations to the problem of franchising. When placed in a spatial context a testable hypothesis is proposed in which both of the issues identi…ed can be explained. 2
• 3. STRUCTURE OF THE FRANCHISE CONTRACT A basic result derived in modern property rights literature is that when any given set of rights is exchanged, the principals involved will select the institutional frame- work that minimizes the sum of production and transaction costs1 . The most com- monly observed of these arrangements (or governance structures) are price mediated markets and centralized employment within …rms2 . These are not the only forms of arrangement within which transactions are carried out, and the distinction between the two mentioned above is not as clear as it is suggested. An example of an alterna- tive institutional framework is a franchise arrangement, and the purpose of this paper is to analyze the nature and purpose of franchise contracts. In a franchise contract, a parent company contracts out the right to produce or market its product to an agent. Contractual stipulations involve rules governing the behavior of the agent including pricing, mode of production, and territorial or market restrictions. A frequently observed feature of a franchised industry is that certain aspects of the parent company’ s product have limited scale economies that require production at the local market level. A principle characteristic of franchise contracts is the agent’ s right to use a national brand name in exchange for a share of the pro…ts. The brand name is a signal to consumers in a local market that the agent supplies a product of a certain quality. The e¤ectiveness of the brand name as a quality signal will decide its value to consumers. Given the nature of brand names and the characteristics of certain industries that rely on them, franchise contracts as a form of governance structure may be the most e¢ cient for enhancing and protecting the value of the brand name. 1 Williamson, O. E., "Transaction Cost Economics: the Governance of Contractual Arrange- ments", The Journal of Law and Economics, 22, Oct. (1979) 223-261 2 Cheung, S.N.S. "The Contractual Nature of the Firm," The Journal of Law and Economics, 26 April (1983) 1-21. 3
• 4. Franchise contracts have certain common characteristics3 . The franchisor sells or leases the right to produce or sell some product to a franchisee. Written into the contract are various obligations and commitments required by both parties. First, with the right to use the franchisor’ s brand name, the franchisor also agrees to supply various types of assistance. This includes orientation with the production process, managerial and accounting assistance, site selection and development, and any ongoing assistance or advice, as required. The franchisor also takes responsibility for national marketing and advertising also any research and development of the prod- uct. Second, the franchisee agrees to operate the business in the manner stipulated by the franchisor. This includes hours of operation, pricing scheme, inventory levels, and adherence to the operating manual –if one is supplied. Third, the franchisee agrees to pay royalties to the franchisor. This is usually in the form of a non-linear outlay schedule, comprised of a …xed fee plus a share of the revenues. Fourth, there will be a monitoring and auditing clause in the contract. This may be spelled out explicitly, but will usually give the franchisor arbitrary and discretionary power. Fifth, the contract will have a termination clause. The termination clause will heavily favour the franchisor who can practically end at will. The franchisee, on the other hand, also can terminate, but at unfavourable terms, usually incurring a heavy penalty. Finally, the contract will contain miscellaneous clauses dealing with sale of the franchise, rights of heirs, territorial restrictions and any other conditions that may be speci…c to the particular product. 3 See, for example, Rubin, P. "The Theory of the Firm and the Structure of the Franchise Con- tract," Journal of Law and Economics, 21 (1978) 223-233; or Caves, R.E. and Murphy, W.F. "Fran- chising: Firms, Markets and Intangible Assets," Southern Economic Journal, 42 (1976) 4
• 5. EXPLANATIONS OF FRANCHISING Franchising As a Method of Capital accumulation It was believed that franchising …rst arose as a form of capital accumulation and rapid expansion4 . This line of reasoning can be discredited on two accounts. First, if an individual is to buy a franchise, he bears all the risk (uncertainty of the residual claim) of that one outlet, whereas the franchisor has his risk spread across all outlets. To bear this higher risk, a risk averse franchisee will demand a higher risk premium (share of the pro…ts). The franchisor could therefore put together a package of shares from all the outlets, and sell them to the individual store managers. The franchisor thus lowers the risk premium he must pay while maintaining full control of the outlets. Being the less costly arrangement, this form of organization will dominate. Second, franchisees tend to have little or zero wealth. Therefore, the funds they invest in a franchise must be acquired. With imperfect capital markets, it is unlikely that an individual would be more successful at raising the needed capital than an already established …rm. Therefore, capital accumulation is not an adequate expla- nation of franchising5 . Franchising to Ensure Agent Compliance A brand name is a mechanism by which certain measures (but not usually all) may be foregone6 . The brand name provides an implicit guarantee of a certain level 4 See, for example: Hunt, S.D. "The Trend Toward Company-owned Units in Franchise Chains," Journal of Retailing, vol. 49, 2 Summer (1973), "Firms often choose the route of franchised units because they simply do not have access to the capital required . . ."; Caves and Murphy, Supra note 3 , "For …nancing outlets the capital supplied by franchisees has no ready substitute: : :". 5 Rubin, P. Supra note 3. 6 The need to establish a brand name is based on what Barzel calls "excess measurement", where the free attributes of a transaction are dissipated through excess measurement. fSee Barzel, Y. 5
• 6. of quality, and as such removes the necessity of prospective consumers assessing the level of desirable attributes about the product. Since it is these attributes that are compared to relative prices in the consumption decision, and the need for measure- ment consumes resources, removing this need lowers the e¤ective per unit price of the desired attributes. This characteristic of the brand name is analogous to the removal of an ad valorem tax, and can be represented by a rightward shift in the demand curve, the shift being the size of the measurement cost. Having established a brand name, the bene…ts that are described above can be ac- crued at zero marginal cost, the establishment being e¤ectively a sunk cost (although there may still be per period …xed costs in maintaining brand name status to some ex- tent). It is natural, then, for a company to want to expand output, taking advantage of these large economies in the sale of brand name reputation. Such expansion will be subject to certain limitations. Technologically there may be diseconomies of scale, and in a spatial context the market will eventually become saturated. To overcome these constraints it becomes necessary to develop subsidiaries, each of optimal plant size, and each unlimited by the extent of its market. If the brand name is successful in reducing excess measurement, then competitive forces will be mitigated, allowing the possibility of shirking by subsidiaries’employees. This may not be a problem if the output is clearly de…ned and straightforward to monitor. But, if the product has (intangible) attributes that are di¢ cult to assess upon inspection, then monitoring may become prohibitively costly, the …rm having great di¢ culty in fully monitoring the performance of subsidiaries. This rules out the possibility of one large, vertically integrated …rm, making necessary the choice of an alternative governance structure of which the franchise is an example. This contractual arrangement allows the required expansion, whilst also providing behavior "Measurement Costs and the Organization of Markets," The Journal of Law and Economics, 25, April (1982) 27 48:g 6
• 7. constraints as disincentives to shirk. Shirking can be de…ned in two ways; quality or quantity shortfalls. There is an incentive to produce output other than the one preferred by the franchisor, since the franchisee’ s marginal cost curve is usually di¤erent from that of the franchisor’ s. The pro…t maximizing level of output is determined at the point marginal revenue equals marginal cost. Having incurred sunk costs establishing the brand name, the franchisor’ s marginal cost (of brand name production per unit of output) is zero. In this respect the franchisor is a sales maximizer. The franchisee produces those attributes of the product that experience limited economies of scale, and therefore his marginal cost is positive and often rises as output is increased. Quality shirking is a form of the free-rider problem. When brand names allocated to many local outlets, this free-riding problem takes two forms. The …rst is vertical free-riding on the national brand name, and results from the franchisee having better knowledge of the state of the local market than the franchisor. This form of free-riding always exists in franchise arrangements. The second form, horizontal free-riding, arises when a percentage of customers from any one of the outlets are transient in nature. This portion of customers base their demand on the average quality of all outlets visited, and not just on the quality level supplied by the outlet they happen to be patronizing. This allows an individual to free-ride on the quality level of other franchises. In both cases the bene…ts to quality reduction (reduced production costs) accrue only to the free-rider while costs of quality reduction (devaluing the brand name) are shared by the franchisor and other franchisees. 7 The devaluation could be 7 Though the end result is the same from both forms of free-riding, the distinction is important to the nature of the contractual constraints used to remedy the problem. Horizontal free-riding can be handled through assigning territorial rights to individual franchisees. Vertical free-riding requires monitoring plus a reward or penalty system. The importance of this distinction in explaining franchise contracts is explored in greater detail in Mathewson, F. and Winter, R. "The Economics of Franchise Contracts," The Journal of Law and Economics, Oct. (1985) 503-526. 7
• 8. Level of Sales (Demand) Level of Service or Effort Q*good day Q*bad day S* Scheating Low Demand (bad days) High Demand (good days) Reduction in service to “ fool”Franchisor into believing it is a bad day A B N compounded if transient customers base their demand solely on a visit to a free-riding outlet, by which the brand name becomes irretrievably associated with a sub-standard product. An example of franchisee shirking on quality is illustrated in …gure one. Suppose the local demand for the product is an increasing function of the franchisee’ s service (or e¤ort). Further suppose that the local demand is stochastic (volitile) such that there are both high demand (good days) and Low demand (bad days) states. This volitility is exogenous and independent of any e¤orts by the franchisee. It is assumed that the local franchisee has better knowledge of local demand condi- tions and, in most cases, the franchisor relies on the franchisee to convey information 8
• 9. regarding local demand conditions. The franchise contract will specify the level of service the franchisee must provide. This is denoted as S in …gure one. At the speci…ed level of service, both parties expect that sales to ‡ uctuate due to high and low demand states (points A and B in …gure one). However, to economize on local costs, the franchisee may choose to reduce the service below S . In order to successfully reduce service without detection by the franchisor, the franchisee can choose a level of service in a high demand state that produces the sales associated with the low demand state (point N in …gure one). The franchisee then "misdeclares" the state of demand to the franchisor In response to these problems the franchisor includes stipulations in the franchise contract designed to render shirking uneconomical (ruling out perfect monitoring). The franchisor could consider charging a price for the franchise equal to the present value of an outlet that is operated according to its aims. But such a price is very di¢ cult to assess, and such behavior will create a moral-hazard problem: there will exist the possibility that the franchisor will not maintain brand name status consistent with the calculation of the present value, making a windfall gain at the expense of the franchisee. The sunk expenditure in establishing the brand name may be insu¢ cient to convince franchisees that their principal is interested in a long-term relationship. Quantity shortfalls are made undesirable by the imposition of a non-linear outlay schedule. The non-linear outlay schedule is comprised of both a …xed and variable component, the latter being tied to gross revenues. Under this system the franchisee’ s per unit royalty decreases as output is expanded. The non-linear outlay schedule e¤ectively ’ ‡ attens-out’the franchisee’ s marginal cost curve, causing output to rise. Given their di¤erent cost curves, the franchisee may want a quantity/quality com- bination that di¤ers from what is optimal for the franchisor. The value of the brand name as a signal will depend on the extent that the franchisor can e¤ectively enforce his quantity/quality combination. Therefore the franchise contract will attempt to 9
• 10. restrict the franchisee’ s ability to make such trade-o¤s. Contract provisions that set hours of operation, prices and outlet design serve to deter this form of franchisee behavior. The franchisor is particularly concerned with quality chiselling, because it devalues the brand name he has expended much investment in attaining. With the existence of free-rider problems the franchisor will be forced to engage in monitoring. If the costs of monitoring are positive, this prohibits perfect monitoring, and this is assumed to be the case (otherwise the franchisor would have chosen an alterna- tive contractual arrangement). The franchisor will, therefore, require some incentive structure to ensure quality compliance, to supplement the necessarily inadequate level of monitoring. The franchisor could require that the franchisee put up a forfeitable bond that would be lost with non-compliance8 . However, this creates a reverse moral hazard problem: if the bond is su¢ ciently large the franchisor may renege on his promise to maintain the brand name and abscond with the bond. Also, if the franchisee was su¢ ciently wealthy to a¤ord an adequately sized bond, then he would invest in a more diversi…ed, less risky asset than a franchise, with fewer constraints on his managerial sovereignty. This implies a wealth constraint on the franchisee; which is a necessary condition for a franchise contract9 . Faced with wealth constrained franchisees, the franchisor will require a reward structure to ensure quality compliance. The reward 8 For further dicussion on this form of constraint see: Klein, B. "Borderlines in Law and Eco- nomics: Transaction Cost Determinants of ’ Unfair’Contractual Arrangements," American Economic Review, 70, 2 May (1980) 356-362. 9 It is a lack of collateral that makes a franchise contract superior to any privately negotiated loan agreement a bank could o¤er the individual. A limited wealth condition is equivalent to a default option on loans to franchisees so that banks incapable of writing performance contracts superior to franchisors will rationally limit their loans to franchisees that ease the purchase of the local right to the brand name, knowing incentives in a franchise contract. The limited wealth constraint as a necessary condition for franchising is a well established result in the literature. See, for example Mathewson, F. and Winter, R. Supra note 7; or Rubin, P. Supra note 3. 10
• 11. will be such that the return to the franchisee from quality compliance exceeds the expected savings from quality reduction. The actual level of monitoring thus will be decided by the relationship between its cost, and the levels of bene…ts and penalties described above. It also will depend on the attitudes to risk of the parties. For the purposes of this paper it is assumed parties are risk-neutral, other attitudes can be included as simple extensions. Therefore if greater than normal returns exist in an industry one would predict an in‡ ow of franchisees10 . Besides the sunk investment in the brand name the …rm also incurs non-salvageable investment in individual franchisees. The …rm must invest both time and resources in training the franchisee and developing the new outlet in a way that allows the franchisee to operate the business. This form of investment is necessary to attract potential franchisees who lack experience or knowledge in the particular industry. 11 Only those with such inadequate human capital will o¤er themselves as franchisees, since for individuals possessing the necessary expertise, the bene…ts of using the brand name do not outweigh the costs (pro…t sharing and behavior constraints). It is natural then, for franchise arrangements to have great appeal to individuals who lack su¢ cient wealth and human capital to establish an independent operation. Though franchisees must pay a large portion of their revenues to the franchisor, their expected value of the franchise exceeds that of a totally independent operation because 10 This turns out to be the case. Established franchise …rms have queues of up to two or three years for the granting of a franchise licence. McDonald’ s accepts less than one percent of all applicants, and territorial rights are sold several years before actual construction of the outlet takes place, as prospective operators wait for natural population growth to reach a level that can supporting an outlet. (Kroc, R. Grinding It Out: The Making of McDonald’ s, Henry Regnery Co., Chicago, Illinois (1977).) 11 Seltz, D.D. The Complete Handbook of Franchising Addison-Wesley Publishing Company Inc. (1982) 11
• 12. of the high probability of success. 12 Once granted, the right to use the franchisor’ s brand name will usually serve as su¢ cient collateral to raise any money. In the event that the brand name is not su¢ cient collateral, the franchisor may supply necessary funding accordingly. Franchise contracts are best explained as a solution to a monitoring problem when reputation is an important factor in the exchange of a good. The best model of a franchise contract is found in Mathewson and Winter 13 . Franchise contracts allow an agent to earn a quasi-rent stream from producing and/or selling a parent company’ s product in a local market. The purpose of the quasi-rent is to ensure compliance on the part of the agent to the terms of the franchise contract. Klein and Murphy 14 argue that quasi-rents are not su¢ cient to ensure appropriate agent behavior. They argue that it is necessary for the parent company to engage in active monitoring. It is the costs of monitoring relative to the quasi-rent stream that determines the degree of vertical integration within these industries. As monitoring costs fall one would expect to see corporate owned outlets rather than franchised outlets. SPATIAL ISSUES OF FRANCHISE CONTRACTS There are two observed facts in industries that use franchising to produce and distribute their product that has not been adequately explained. 15 The …rst is 12 In 1973 only 2% of franchise outlets in the United States declared bankruptcy (see Vaughn, C.L. Franchising Lexington Books, Lexington Mass. (1974). 13 Mathewson, F. and Winter R. Supra note 7. 14 Klein, B. and Murphy, K. " Vertical Restraints as Contract Enforcement Mechanisms," The Journal of Law and Economics, Oct. (1988) 265-297 15 Simon, Carol J., "Franchising vs. Ownership: a contracting explanation", University of Chicago working paper (1991). This paper presents the results of an extensive survey of franchise contracts across the midwest United States. 12
• 13. the breakdown between corporate owned and franchised outlets found within a given organization. It is frequently observed that an organization that engages in franchising will frequently buy back certain franchised outlets and operate them as corporate stores while at the same time issue franchises in new areas. Furthermore, there appears to be little correlation between the size of the quasi-rent that individual outlets are earning and the decision to buy them back. The second unexplained observation is the fact that franchise fees remain relatively …xed, both across outlets and over time, while across outlets there is a wide variability in rents being earned. This fact appears to be inconsistent with the proposition that franchise fees allow the parent company to capture some of the economic rents being earned by the agent. 16 Incentive compatibility constraints determine the extent that a parent company can capture the economic rents being earned by the individual outlets. If one assumed that individual franchisees have similar opportunity costs then one would expect that the quasi-rent required to ensure compliance would be the same across franchises. Therefore, if economic rents vary across outlets, the residual (minus the quasi-rent) would be captured by a variable franchise fee. One would expect the parent company to set each outlet’ s franchise fee based on local market conditions. One characteristic common to franchise industries is that aspects production and distribution are carried out by many small, geographically displaced outlets. There- fore, when the parent company wishes to monitor its outlets, the monitor engage in considerable travel. In a large chain this will require the monitor to cover great distances in the execution of his duties. Therefore one would expect the remoteness of an outlet to have a bearing on the choice of contractual arrangement between the parent company and the local operator. If the location of outlets and the distance between outlets is a function of market 16 See Tirole, J.The Theory of Industrial Organization, chapter 4 (1988). 13
• 14. density, one would expect to see a clustering of outlets in more densely populated areas. This gives rise to an asymmetric distribution of stores which will have a signi…cant e¤ect on the costs of monitoring. If the monitor has to travel a signi…cant distance to inspect a particular outlet, then frequent monitoring will be quite costly. However, if there is a second outlet in close proximity to the …rst outlet, then the marginal travel cost of monitoring the second store will be quite low. This implies a non-convexity in the monitor’ s cost function that will e¤ect the choice of contract between the parent company and the individual outlets. In the case of one outlet geographically displaced from the monitor it may be more pro…table to give the local agent a quasi-rent rather than frequent monitoring to ensure compliance. However, if a second store is established in close proximity to the …rst it may be more pro…table for the parent company to switch to extensive monitoring and reclaim the quasi-rents. While this point may seem straightforward with respect to the parent company’ s decision to franchise a new outlet, it implies something more. The decision to expand the number of outlets and the decision to change the form of the contract between the parent company and the local operator may be two aspects of one decision. This may explain why one form of contract has not come to dominate the other over time; something that has been predicted by analysts of these industries. 17 With respect to the issue of …xed franchise fees, this too may be best explained in a spatial context. When a local market grows, so does the rents earned by the local franchisee. So why doesn’ t the parent company increase the franchise fee accordingly? One would expect that this would be a fairly straightforward clause to include at the outset of the franchise agreement. It is assumed that the franchisee has better knowledge of local market conditions 17 The list includes: Caves and Murphy Supra note 3; Hunt, S.D. "the Trend Toward Company- owned Units in Franchising in Franchise Chains", The Journal of Retailing vol. 49 (1973). 14
• 15. than the parent company. Therefore the franchisee would be in a better position to judge whether the local market could support expansion. In most franchise agree- ments the franchisee has the right of …rst refusal when a second outlet is being con- sidered within his territory. The increase in economic rents accruing to the franchisee gives him the proper incentive to pursue expansion. Furthermore, given diminishing returns to the ability of a single outlet to service a growing market, the parent company could better increase total royalty revenue from a given market by establishing a second outlet. The pro…tability of expansion will be further enhanced because of the non-convexity of the monitoring costs. The existence of the second store will lower the economic rents that were going to the …rst store before expansion. The lowering of rents will give the agent in the …rst store a greater incentive to shirk or alter his behavior in some way that is incompatible with the objective of the parent company. Therefore greater monitoring will be required. But, with the existence of the second store, the non-convexity of the monitoring costs may now make increased monitoring worthwhile relative to the pre-expansion period. CONCLUSION This paper has presented a simple model of a franchise contract. While capturing the essential elements of an incentive compatibility contract, the model is able to address some of the geographic issues inherent in franchise contracts. Speci…cally, the model focuses on the issue of the costs of monitoring to explain the contractual choices observed in franchise industry. Several results are derived from the model. First, that in the presence of incentives to shirk and positive monitoring costs, increases in rents due to market growth may accrue to the agent rather than the franchisor. Second, the decision to expand are not independent of each other. When geographical considerations are taken into account, non-convexities in monitoring costs may arise that e¤ect both the decision to expand 15
• 16. and the decision to convert a franchise outlet to a corporate owned-store. Third, the results from the model questions the e¤ectiveness of franchise fees at extracting economic rents being earned in the local market. Finally, the franchisor will design the contract such that it anticipates the chang- ing opportunity costs of the franchisee. The franchise contract serves to govern the ongoing relationship between principal and agent, anticipating systematic changes between the two that occur during the life of the agreement. The franchisor will attempt to lower the franchisee’ s opportunity costs through a combination of con- tractual constraints and monetary incentives. Moreover, the franchisor will set the initial franchise fee in a manner that will result in self-selection of those potential franchisees with stronger commitment to the franchise. The model in this paper is limited to the set of franchise contracts where some input on the part of the franchisee is a major component of the …nal product. The model does not apply to all forms of franchising observed in the economy, in partic- ular franchise arrangements that are classi…ed as manufacturer-retailer relationships. Such industries that experience large economies of scale in centralized production of the …nal product may …nd franchising simply an e¢ cient method of delegating the responsibility of distribution. BIBLIOGRAPHY 1. Barzel, Y. ” Measurement Costs and the Organization of Markets,”The Journal of Law and Economics , 25, April (1982) 27-48. 2. Caves, R.E. and Murphy, W.F. ” Franchising: Firms, Markets and Intangible Assets,”Southern Economic Journal, 42 572-586. 3. Cheung, S.N.S. ” The Contractual Nature of the Firm,”The Journal of Law and Economics , 26 April (1983) 1-21. 16
• 17. 4. Demsetz, H. ” The Exchange and Enforcement of Property Rights,”Journal of Law and Economics, 7 Oct. (1964) 11-26. 5. Gallini, N. T. and Lutz, N.A. ” Dual Distribution in Franchising”JLEO 1992 6. Goldberg, V.P. ” Toward an Expanded Economic Theory of Contract,”Journal of Economic Issues, 10, 1 March (1976) 45-61. 7. Helmers, H.O., Davisson, C.N., and Taggart, H.F. Two Studies in Automobile Franchising , The University of Michigan Ann Arbour, Michigan. 8. Hunt, S.D. ” The Trend Toward Company-owned Units in Franchise Chains,” Journal of Retailing , vol. 49, 2 Summer (1973) 3-13. 9. Klein, B. ” Borderlines in Law and Economics: Transaction Cost Determinants of ’ Unfair’Contractual Arrangements,”American Economic Review, 70, 2 May (1980) 356-362. 10. Klein, B. and Le- er, K. ” The Role of Market Forces in Assuring Contractual Performance,”Journal of Political Economy, 89, 4 (1981) 615- 641. 11. Klein, B. and Saft, L.F. ” The Law and Economics of Franchise Tying Con- tracts,”Journal of Law and Economics , 28 May (1985) 345-361 12. Klein, B. and Murphy, K. ” Vertical Restraints as Contract Enforcement Mech- anisms,”Journal of Law and Economics, Oct. (1988) 265-297 13. Kroc, R. Grinding It Out: The Making of McDonald’ s Henry Regnery Co., Chicago, Illinois (1977). 14. Mathewson, F. and Winter, R. ” The Economics of Franchise Contracts,”The Journal of Law and Economics, Oct. (1985) 503-526. 17
• 18. 15. Minkler, A.P. ” Why Firms Franchise: A Search Cost Theory”Journal of The- oretical and Institutional Economics (1991) 16. Ozanne, U.B. and Hunt, S.D. The Economic E¤ects of Franchising (Washing- ton, D.C.; U.S. Government printing o¢ ce, 1971). Rubin, P. ” The Theory of the Firm and the Structure of the Franchise Contract,” Journal of Law and Economics , 21 (1978) 223-233. 17. Seltz, D.D. The Complete Handbook of Franchising Addison- Wesley Publishing Company Inc. (1982). 18. Simon, Carol J. ” Franchising versus Ownership: a contracting explanation,” University of Chicago working paper (1991) 19. Udell, G. ” The Anatomy of the Franchise Contract,” The Cornell Hotel and Restaurant Quarterly 13, no. 3 August (1972) 13-21. 20. Vaughn, C.L. Franchising Lexington Books, Lexington Mass. (1974). 21. Williamson. O.E. ” Transaction Cost Economics: the Governance of Contractual Relations,”The Journal of Law and Economics , 22, Oct. (1979) 223-261. 22. Winter, R.A. ” Vertical Control and Price versus Non-price Competition”work- ing paper (1990). 18

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Amanda Muniz Oliveira

The purpose of this work is the principle of academic freedom, analyzed in the constitutional and infraconstitutional scope, indicating its possibilities and limits in relation to the fundamental right to education and the requirement to preserve pluralism of ideas, especially those resulting from the interaction between freedoms which comprises it (of teaching, unduly called freedom of teaching, of learning, of researching and of disseminating knowledge). Considering these questions, the article goes on to propose the adoption of the term academic freedom as the most appropriate and representative when referring to the various freedoms involved in educational processes and production of knowledge. It also concludes that the Federal Constitution contains academic freedom within the framework of the fundamental right to education and as an instrument of guaranteeing pluralism of ideas, not as freedom itself. Keywords: Academic freedom. Freedom to teach. Freedom of teaching. Freedom to learn. Freedom to search. Freedom to spread knowledge. Resumo: O objeto deste trabalho é o princípio da liberdade acadêmica, analisado no âmbito constitucional e infraconstitucional, indicando as suas possibilidades e limites frente ao direito fundamental à educação e à exigência de preservação do pluralismo de ideias, em especial, aqueles decorrentes da interação entre as liberdades que a compõe (de ensinar, denominada indevidamente de liberdade de cátedra, de aprender, de pesquisar e de divulgar o conhecimento). Considerando essas questões o artigo caminha no sentido de propor a adoção do termo liberdade acadêmica como o mais adequado e representativo quando se faz referência às diversas liberdades envolvidas nos processos educativos e de produção do conhecimento. Também conclui que a Constituição Federal contém a liberdade acadêmica no âmbito do direito fundamental à educação e como instrumento de garantia do pluralismo de ideias, não como liberdade em si mesma. Palavras-chave: Liberdade acadêmica. Liberdade de ensinar. Liberdade de cátedra. Liberdade de aprender. Liberdade de pesquisar. Liberdade de divulgar o conhecimento.

Studies in Higher Education

Terence Karran

Proceedings of the 4th International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2020)

Olga Savvina

Leadership and Governance in Higher Education – Handbook for Decision-makers and Administrators, Supplemental volume 2013(3)

Liviu Andreescu

While arguably a well-established principle governing university life, academic freedom is also frequently an object of dispute. The controversies often concern such basic questions as the very meaning of the term, its range of application, its relation to other principles (for example, institutional autonomy) or arrangements (e.g., tenure) in higher education, and sometimes even its desirability. This article seeks to provide a systematic introduction to the topic, all the while stressing the complex nature of academic freedom. Its final section addresses directly the relationship between university administrators and academic freedom in light of some of the recent changes in global higher education.

in Domènech J., Lloret J., Vincent Vela M.C., Zuriaga Agustí E. (editors), 1st International Conference on Higher Education Advances, HEAd’15, Universitat Politècnica de València, València, 2015, pp. 552-558

Roberto Cippitani

The paper aims at defining in particular the concept of academic freedom within the context of the European legal sources. Even though the idea of a special corporative status for professors was born during the Middle Ages, it was only during the second half of the twentieth century that the Constitutions recognised academic freedom as an individual’s legal right. Such an individual right is regulated within the category of the freedom of expression, even if it is characterised by particular aspects. Like any individual right that is recognised at the constitutional level, the freedoms of teaching and research are subject to limitations that protect other fundamental rights. Furthermore, today the academic freedom has lost its traditional sense as a defence against public powers and is now granted to play a social function, protecting not only the corporative interests of teachers. It can then be concluded that only through the developing ofthe social role of education and research, by the principles of quality, transparency and accountability, ensures the individual and institutional rights of the teachersand researchers, strengthening and upgrading the role that universities are playing in the last 900 years.

WilliamG Tierney

In this essay, we interrogate the role of academic freedom in the 21st century by describing its historical genesis in the modern university, its association with the concept of tenure, and how it is reinterpreted by different cultural and social contexts. Afterwards, we examine traditional infringements by national governments upon academic freedom, as well as new infringements brought on by the forces of globalization and commercialization. Since academic freedom not only protects scholarly inquiry, but the health and safety of academics across the world, we argue that academic freedom is a “transcendent value” that should be respected by political and institutional forces and carefully defended by engaged scholars.

Stephen Petrina

Aaron Barlow

Steve Sheppard

The Idea of a University, Westland

Irfanullah Farooqi

The autonomy of academic spaces in India has been under attack for some time now. As teachers and students get prosecuted every now and then for their allegiance towards critical thought and imagination, these physical attacks taking place across campuses are on the verge of acquiring a disturbing normalcy. Consequently, a genuine concern has surfaced with respect to the future of our universities and academic freedom. Higher education cannot exist in the absence of academic freedom. The university as a structure can continue without academic freedom but the university as an aspiration, idea or philosophy cannot. There is something enduring about it given the way it lends shape to cultures of learning. However, what is to be understood is that academic freedom was never a given. It was always hard-earned. Ever since universities came into being, academic freedom was something academics ardently struggled for. In other words, some structure of the society always tried hard to check the fundamental spirit of the university-the fearless pursuit of knowledge. There was something obvious about that scrutiny from the society's end, given how critical inquiry dethrones dominant ideologies and established truths.

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How to Write a Term Paper From Start to Finish

The term paper, often regarded as the culmination of a semester's hard work, is a rite of passage for students in pursuit of higher education. Here's an interesting fact to kick things off: Did you know that the term paper's origins can be traced back to ancient Greece, where scholars like Plato and Aristotle utilized written works to explore and document their philosophical musings? Just as these great minds once wrote their thoughts on parchment, you, too, can embark on this intellectual voyage with confidence and skill.

How to Write a Term Paper: Short Description

In this article, we'll delve into the core purpose of this kind of assignment – to showcase your understanding of a subject, your research abilities, and your capacity to communicate complex ideas effectively. But it doesn't stop there. We'll also guide you in the art of creating a well-structured term paper format, a roadmap that will not only keep you on track but also ensure your ideas flow seamlessly and logically. Packed with valuable tips on writing, organization, and time management, this resource promises to equip you with the tools needed to excel in your academic writing.

Understanding What Is a Term Paper

A term paper, a crucial component of your college education, is often assigned towards the conclusion of a semester. It's a vehicle through which educators gauge your comprehension of the course content. Imagine it as a bridge between what you've learned in class and your ability to apply that knowledge to real-world topics.

For instance, in a history course, you might be asked to delve into the causes and consequences of a significant historical event, such as World War II. In a psychology class, your term paper might explore the effects of stress on mental health, or in an environmental science course, you could analyze the impact of climate change on a specific region.

Writing a term paper isn't just about summarizing facts. It requires a blend of organization, deep research, and the art of presenting your findings in a way that's both clear and analytical. This means structuring your arguments logically, citing relevant sources, and critically evaluating the information you've gathered.

For further guidance, we've prepared an insightful guide for you authored by our expert essay writer . It's brimming with practical tips and valuable insights to help you stand out in this academic endeavor and earn the recognition you deserve.

How to Start a Term Paper

Before you start, keep the guidelines for the term paper format firmly in mind. If you have any doubts, don't hesitate to reach out to your instructor for clarification before you begin your research and writing process. And remember, procrastination is your worst enemy in this endeavor. If you're aiming to produce an exceptional piece and secure a top grade, it's essential to plan ahead and allocate dedicated time each day to work on it. Now, let our term paper writing services provide you with some valuable tips to help you on your journey:

• Hone Your Topic : Start by cultivating a learning mindset that empowers you to effectively organize your thoughts. Discover how to research a topic in the section below.
• Hook Your Readers: Initiate a brainstorming session and unleash a barrage of creative ideas to captivate your audience right from the outset. Pose intriguing questions, share compelling anecdotes, offer persuasive statistics, and more.
• Craft a Concise Thesis Statement Example : If you find yourself struggling to encapsulate the main idea of your paper in just a sentence or two, it's time to revisit your initial topic and consider narrowing it down.
• Understand Style Requirements: Your work must adhere to specific formatting guidelines. Delve into details about the APA format and other pertinent regulations in the section provided.
• Delve Deeper with Research : Equipped with a clearer understanding of your objectives, dive into your subject matter with a discerning eye. Ensure that you draw from reputable and reliable sources.
• Begin Writing: Don't obsess over perfection from the get-go. Just start writing, and don't worry about initial imperfections. You can always revise or remove those early sentences later. The key is to initiate the term papers as soon as you've amassed sufficient information.

Ace your term paper with EssayPro 's expert help. Our academic professionals are here to guide you through every step, ensuring your term paper is well-researched, structured, and written to the highest standards.

Term Paper Topics

Selecting the right topic for your term paper is a critical step, one that can significantly impact your overall experience and the quality of your work. While instructors sometimes provide specific topics, there are instances when you have the freedom to choose your own. To guide you on how to write a term paper, consider the following factors when deciding on your dissertation topics :

• Relevance to Assignment Length: Begin by considering the required length of your paper. Whether it's a substantial 10-page paper or a more concise 5-page one, understanding the word count will help you determine the appropriate scope for your subject. This will inform whether your topic should be broad or more narrowly focused.
• Availability of Resources : Investigate the resources at your disposal. Check your school or community library for books and materials that can support your research. Additionally, explore online sources to ensure you have access to a variety of reference materials.
• Complexity and Clarity : Ensure you can effectively explain your chosen topic, regardless of how complex it may seem. If you encounter areas that are challenging to grasp fully, don't hesitate to seek guidance from experts or your professor. Clarity and understanding are key to producing a well-structured term paper.
• Avoiding Overused Concepts : Refrain from choosing overly trendy or overused topics. Mainstream subjects often fail to captivate the interest of your readers or instructors, as they can lead to repetitive content. Instead, opt for a unique angle or approach that adds depth to your paper.
• Manageability and Passion : While passion can drive your choice of topic, it's important to ensure that it is manageable within the given time frame and with the available resources. If necessary, consider scaling down a topic that remains intriguing and motivating to you, ensuring it aligns with your course objectives and personal interests.

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Term Paper Outline

Before embarking on the journey of writing a term paper, it's crucial to establish a well-structured outline. Be mindful of any specific formatting requirements your teacher may have in mind, as these will guide your outline's structure. Here's a basic format to help you get started:

• Cover Page: Begin with a cover page featuring your name, course number, teacher's name, and the deadline date, centered at the top.
• Abstract: Craft a concise summary of your work that informs readers about your paper's topic, its significance, and the key points you'll explore.
• Introduction: Commence your term paper introduction with a clear and compelling statement of your chosen topic. Explain why it's relevant and outline your approach to addressing it.
• Body: This section serves as the meat of academic papers, where you present the primary findings from your research. Provide detailed information about the topic to enhance the reader's understanding. Ensure you incorporate various viewpoints on the issue and conduct a thorough analysis of your research.
• Results: Share the insights and conclusions that your research has led you to. Discuss any shifts in your perspective or understanding that have occurred during the course of your project.
• Discussion: Conclude your term paper with a comprehensive summary of the topic and your findings. You can wrap up with a thought-provoking question or encourage readers to explore the subject further through their own research.

How to Write a Term Paper with 5 Steps

Before you begin your term paper, it's crucial to understand what a term paper proposal entails. This proposal serves as your way to introduce and justify your chosen topic to your instructor, and it must gain approval before you start writing the actual paper.

In your proposal, include recent studies or research related to your topic, along with proper references. Clearly explain the topic's relevance to your course, outline your objectives, and organize your ideas effectively. This helps your instructor grasp your term paper's direction. If needed, you can also seek assistance from our expert writers and buy term paper .

Draft the Abstract

The abstract is a critical element while writing a term paper, and it plays a crucial role in piquing the reader's interest. To create a captivating abstract, consider these key points from our dissertation writing service :

• Conciseness: Keep it short and to the point, around 150-250 words. No need for lengthy explanations.
• Highlight Key Elements: Summarize the problem you're addressing, your research methods, and primary findings or conclusions. For instance, if your paper discusses the impact of social media on mental health, mention your research methods and significant findings.
• Engagement: Make your abstract engaging. Use language that draws readers in. For example, if your paper explores the effects of artificial intelligence on the job market, you might begin with a question like, 'Is AI revolutionizing our work landscape, or should we prepare for the robots to take over?'
• Clarity: Avoid excessive jargon or technical terms to ensure accessibility to a wider audience.

Craft the Introduction

The introduction sets the stage for your entire term paper and should engage readers from the outset. To craft an intriguing introduction, consider these tips:

• Hook Your Audience: Start with a captivating hook, such as a thought-provoking question or a compelling statistic. For example, if your paper explores the impact of smartphone addiction, you could begin with, 'Can you remember the last time you went a whole day without checking your phone?'
• State Your Purpose: Clearly state the purpose of your paper and its relevance. If your term paper is about renewable energy's role in combating climate change, explain why this topic is essential in today's world.
• Provide a Roadmap: Briefly outline how your paper is structured. For instance, if your paper discusses the benefits of mindfulness meditation, mention that you will explore its effects on stress reduction, emotional well-being, and cognitive performance.
• Thesis Statement: Conclude your introduction with a concise thesis statement that encapsulates the central argument or message of your paper. In the case of a term paper on the impact of online education, your thesis might be: 'Online education is revolutionizing learning by providing accessibility, flexibility, and innovative teaching methods.'

Develop the Body Sections: Brainstorming Concepts and Content

Generate ideas and compose text: body sections.

The body of your term paper is where you present your research, arguments, and analysis. To generate ideas and write engaging text in the body sections, consider these strategies from our research paper writer :

• Structure Your Ideas: Organize your paper into sections or paragraphs, each addressing a specific aspect of your topic. For example, if your term paper explores the impact of social media on interpersonal relationships, you might have sections on communication patterns, privacy concerns, and emotional well-being.
• Support with Evidence: Back up your arguments with credible evidence, such as data, research findings, or expert opinions. For instance, when discussing the effects of social media on mental health, you can include statistics on social media usage and its correlation with anxiety or depression.
• Offer Diverse Perspectives: Acknowledge and explore various viewpoints on the topic. When writing about the pros and cons of genetic engineering, present both the potential benefits, like disease prevention, and the ethical concerns associated with altering human genetics.
• Use Engaging Examples: Incorporate real-life examples to illustrate your points. If your paper discusses the consequences of climate change, share specific instances of extreme weather events or environmental degradation to make the topic relatable.
• Ask Thought-Provoking Questions: Integrate questions throughout your text to engage readers and stimulate critical thinking. In a term paper on the future of artificial intelligence, you might ask, 'How will AI impact job markets and the concept of work in the coming years?'

Formulate the Conclusion

The conclusion section should provide a satisfying wrap-up of your arguments and insights. To craft a compelling term paper example conclusion, follow these steps:

• Revisit Your Thesis: Begin by restating your thesis statement. This reinforces the central message of your paper. For example, if your thesis is about the importance of biodiversity conservation, reiterate that biodiversity is crucial for ecological balance and human well-being.
• Summarize Key Points: Briefly recap the main points you've discussed in the body of your paper. For instance, if you've been exploring the impact of globalization on local economies, summarize the effects on industries, job markets, and cultural diversity.
• Emphasize Your Main Argument: Reaffirm the significance of your thesis and the overall message of your paper. Discuss why your findings are important or relevant in a broader context. If your term paper discusses the advantages of renewable energy, underscore its potential to combat climate change and reduce our reliance on fossil fuels.
• Offer a Thoughtful Reflection: Share your own reflections or insights about the topic. How has your understanding evolved during your research? Have you uncovered any unexpected findings or implications? If your paper discusses the future of space exploration, consider what it means for humanity's quest to explore the cosmos.
• End with Impact: Conclude your term paper with a powerful closing statement. You can leave the reader with a thought-provoking question, a call to action, or a reflection on the broader implications of your topic. For instance, if your paper is about the ethics of artificial intelligence, you could finish by asking, 'As AI continues to advance, what ethical considerations will guide our choices and decisions?'

Edit and Enhance the Initial Draft

After completing your initial draft, the revision and polishing phase is essential for improving your paper. Here's how to refine your work efficiently:

• Take a Break: Step back and return to your paper with a fresh perspective.
• Structure Check: Ensure your paper flows logically and transitions smoothly from the introduction to the conclusion.
• Clarity and Conciseness: Trim excess words for clarity and precision.
• Grammar and Style: Proofread for errors and ensure consistent style.
• Citations and References: Double-check your citations and reference list.
• Peer Review: Seek feedback from peers or professors for valuable insights.
• Enhance Intro and Conclusion: Make your introduction and conclusion engaging and impactful.
• Coherence Check: Ensure your arguments support your thesis consistently.
• Read Aloud: Reading your paper aloud helps identify issues.
• Final Proofread: Perform a thorough proofread to catch any remaining errors.

Term Paper Format

When formatting your term paper, consider its length and the required citation style, which depends on your research topic. Proper referencing is crucial to avoid plagiarism in academic writing. Common citation styles include APA and MLA.

If unsure how to cite research paper for social sciences, use the APA format, including the author's name, book title, publication year, publisher, and location when citing a book.

For liberal arts and humanities, MLA is common, requiring the publication name, date, and location for referencing.

Adhering to the appropriate term paper format and citation style ensures an organized and academically sound paper. Follow your instructor's guidelines for a polished and successful paper.

Term Paper Example

To access our term paper example, simply click the button below.

The timeline of events from 1776 to 1861, that, in the end, prompted the American Civil War, describes and relates to a number of subjects modern historians acknowledge as the origins and causes of the Civil War. In fact, pre-Civil War events had both long-term and short-term influences on the War—such as the election of Abraham Lincoln as the American president in 1860 that led to the Fall of Fort Sumter in April of the same year. In that period, contentions that surrounded states’ rights progressively exploded in Congress—since they were the initial events that formed after independence. Congress focused on resolving significant issues that affected the states, which led to further issues. In that order, the US’s history from 1776 to 1861 provides a rich history, as politicians brought forth dissimilarities, dissections, and tensions between the Southern US & the people of slave states, and the Northern states that were loyal to the Union. The events that unfolded from the period of 1776 to 1861 involved a series of issues because they promoted the great sectional crisis that led to political divisions and the build-up to the Civil War that made the North and the South seem like distinctive and timeless regions that predated the crisis itself.

What is the Difference between a Term Paper and a Research Paper?

To master how to write a research paper , it's crucial to grasp the fundamental distinction between a term paper and a research paper: their scope and purpose.

A term paper is typically given at the conclusion of a course, serving as a comprehensive summary of the knowledge acquired during that term. It follows a structured format and may delve into specific topics covered within the course.

On the other hand, a research paper delves deeper, involving original research, thorough analysis, and the exploration of a specific subject. It often necessitates the use of primary sources and contributes novel insights to the field of study. Research papers are most commonly encountered in higher education and advanced academic levels, where in-depth exploration and critical thinking are paramount.

What Is the Fastest Way to Write a Term Paper?

To expedite your term paper writing process, the key is to initiate early, manage your time wisely, and maintain unwavering focus. Break the task into manageable segments and craft a well-defined outline. Prioritize your research, gather pertinent information efficiently, and resist the allure of unrelated sources. Write your paper systematically and with precision, and be sure to review and correct any errors. Always keep in mind that maintaining a steady work pace and committing to the task at hand are vital for achieving efficient term paper completion.

Final Thoughts

In closing, approach the task of writing term papers with determination and a positive outlook. Begin well in advance, maintain organization, and have faith in your capabilities. Don't hesitate to seek assistance if required, and express your individual perspective with confidence. You're more than capable of succeeding in this endeavor!

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