【正文】 ted a lower rate of survival than independent business startups? Impacts of owner education, firm size, industry, capitalization, the franchise trait, and other factors upon firm survival and discontinuance are further investigated below. F. Concluding ments Among the few scholarly studies that empirically investigate the franchise industry, I found no evidence of franchisee survival rates that was in any way inconsistent with the findings of this study. Most of the applicable studies examine franchisor rather than franchisee behavior: see, for example, Rubin (t978) and Norton (1988). The average franchise outlet closure rate reported by Lafontaine (for 1985) was percent. Direct measurement of franchisee failure rates nationwide appears in a study by Castro Giovanni, Justas, and Julian (1993)。s degree. All of the above group mean differences are statistically significant Yet, despite the obvious strengths of the young franchise firms summarized in table one, they are dramatically less profitable than independent firms of the same age, and they exhibit a lower survival rate per cent (versus percent for no franchise firms) over the 19871ate 1991 time period。s nonrandom sampling in the creation of the CBO: the firms described in this study are therefore representative of young firms that grossed at least $5000 in total revenues in 1987 .This study covers only firms formed over the 19841987 period and the unit of analysis is firms, not persons. Thus, the universe of firms covered in this study is 4,005,561 small businesses. A description of the CBO sample of young firms analyzed in the following pages appears in the appendix of this study. The sample of franchise firms analyzed here’s not identical with the universe of franchise units opened between 1984 and 1987 for several reasons. First, some franchise units are owned by the franchisor. Second, some new franchise units are owned by multiunit firms that began operations before 1984. Third, multiunit new firms included in this study might own franchise operations at several locations, but such a firm is only counted once, because the unit of analysis here is the firm. Thus, the failure rate for all new franchise units operating in 1987 that opened up between 1984 and 1987 may differ from the closure rate reported in this study. C. Characteristics of franchise and independent young firms Existing studies identify traits that are positively correlated with firm longevity. The larger scale, older small businesses have higher survival rates over time than smaller, younger firms (Evans, 1987。the number of failures is unknown39。s franchisees terminated operations during the three year period ending in December 1992. Decorating Den is a franchisor that grew spectacularly during the 1980s。畢業(yè)論文（設(shè)計）外文翻譯 題 目： 農(nóng)村零售終端連鎖經(jīng)營模式研究 一、外文原文 標題： A Comparison of Franchise and Independent Small Business Survival Rates 原文： ABSTRACT. Aspiring entrepreneurs choosing to bee franchisees certainly expect to improve their chances of survival during the turbulent early years of business startup and operation. Alignment with a franchisor parent pany offers the franchisee managerial assistance, access to financial capital, and access to markets via the right to utilize the parent pany trademark. This study examines survival patterns among franchise and non franchise small firms started between 1984 and 1987: survival through late 1991 is tracked for all firms. Although the franchise operations are larger scale, better capitalized young firms, the independent business startups are found to be more profitable and their survival prospects are better than those of franchises. A. Introduction