iterature of the application of the Demsetz hypothesis to industry analyses.
1 û Introduction .................................... 1
Statement of the Problem ........................ 2
Purpose and Significance of the Problem ......... 4
Background on the Fast-Food Segment of the
Restaurant Industry and Its External
Environmental Conditions ....................... 4
Overview of the Remainder of the Study .......... 15
2 û REVIEW OF RELATED LITERATURE .................... 17
Theoretical and Conceptual Literature ........... 17
Market Structure ............................. 17
Antitrust Concerns ........................... 32
Elasticity of Demand ......................... 38
Productivity ................................. 44
Literature Review Summary ....................... 53
3 û METHODOLOGY ..................................... 54
Research Design ................................. 54
Analytical Model ................................ 55
Data Sources .................................... 57
Data Analysis ................................... 57
Summary ......................................... 58
4 û RESULTS ......................................... 59
Hypothesis Test Results ......................... 59
Summary ......................................... 61
5 û SUMMARY AND CONCLUSIONS ......................... 62
REFERENCES .............................................. 64
Private buyers in the contemporary period have been acquiring closely held fast-food restaurant companies while publicly traded fast-food chains have repurchasing their shares. Such actions are the manifestations of a dichotomy of opinion, as investors anticipate the maturity of the fast-food segment of the restaurant industry, while executives of fast-food chains anticipate continued growth.
Prices paid b...