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Book part
Publication date: 1 July 2004

John L. Peterman

A study of the price discounts granted by Morton Salt Company and other producers of table salt in the U.S. on their sales of table salt to grocery wholesalers and…

Abstract

A study of the price discounts granted by Morton Salt Company and other producers of table salt in the U.S. on their sales of table salt to grocery wholesalers and retailers. The discounts were found to be illegal under the Robinson-Patman Act by the Federal Trade Commission and the Supreme Court. The Commission and the Court believed that the discounts were unjustified price concessions granted to “large” buyers, consistent with the concerns of the Robinson-Patman Act. However, the evidence indicates that the most common discount – the “carload discount” – was received by virtually all buyers, regardless of the buyer’s size; the other discounts – “annual volume” discounts – though received primarily by “large” buyers, were likely cost based. The history of the discounts and likely reasons why they were granted are explored in detail.

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Antitrust Law and Economics
Type: Book
ISBN: 978-0-76231-115-6

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Article
Publication date: 1 January 1984

MICHAEL DAVID BORDO and EHSAN U. CHOUDHRI

How well does the “Law of One Price” operate across countries? Interest in this question has been stimulated by the Monetary Aproach to the Balance of Payments (Frenkel…

Abstract

How well does the “Law of One Price” operate across countries? Interest in this question has been stimulated by the Monetary Aproach to the Balance of Payments (Frenkel and Johnson (1975)) which uses the law to determine the price of traded goods in open economies.

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Studies in Economics and Finance, vol. 8 no. 1
Type: Research Article
ISSN: 1086-7376

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Book part
Publication date: 5 November 1992

Martti Hetemaki

Abstract

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Economic Modeling in the Nordic Countries
Type: Book
ISBN: 978-1-84950-859-9

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Article
Publication date: 12 October 2020

Md. Rakibul Hasan, Abu Hashan Md Mashud, Yosef Daryanto and Hui Ming Wee

External factors such as improper handling, extreme weather and insect attacks affect product quality. It is most obvious in fruit products which have a high deterioration…

Abstract

Purpose

External factors such as improper handling, extreme weather and insect attacks affect product quality. It is most obvious in fruit products which have a high deterioration rate. Moreover, decaying fruits will increase the deteriorating of other good ones. The purpose of this study is to derive the optimal pricing and replenishment decisions for agricultural products considering the effect of external factors that induce deterioration.

Design/methodology/approach

In this paper, the study investigates ways to reduce the product deterioration rate by separating the near defective items from the other good products and accelerating the quick sales of the near defective items at a discounted price. The objective is to maximize the total profit by optimizing the selling price and the replenishment cycles. Two scenarios are investigated. In the first scenario, the retailer offers a selling price discount for near defective products to stimulate customer demand. In the second scenario, the retailer does not offer such discounts.

Findings

An algorithm to solve the model is derived. Further, numerical examples are developed to compare the total profit for the two scenarios. Theoretical derivations and graphical results show the concavity of the profit function. Finally, the sensitivity analysis shows that the total profit of the discount model is higher.

Originality/value

This study contributes to a new pricing and inventory decision model. The research provides insights to retailers on making optimal pricing and replenishment decisions for non-instantaneous deterioration items, as well as reducing the external factors that influence higher deterioration rate through separating good products from the near defective ones which are sold at a discount to induce the sale.

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Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 1 March 1990

Lois Olsrud and Anne Moore

Many libraries have been affected by the proliferation and price inflation of serial publications in recent years. Academic libraries have been especially hard‐hit since…

Abstract

Many libraries have been affected by the proliferation and price inflation of serial publications in recent years. Academic libraries have been especially hard‐hit since they are trying to cope with increasing subscription prices while facing budget reductions or very small increases. Although requesting additional funds and freezing new subscriptions help as short‐term measures, some libraries have undertaken serials evaluation and cancellation programs as a more permanent solution. Our university library conducted a comprehensive serials review, which is described here. This article explains the justification for the review and describes the methodology used and the problems encountered in canceling serials subscriptions.

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Collection Building, vol. 10 no. 3/4
Type: Research Article
ISSN: 0160-4953

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Article
Publication date: 1 March 1996

Zahid Iqbal and Shekar Shetty

The main purpose of this study is to investigate product price changes from the stockholders' perspective. Our evidence indicates that stockholders react positively to a

Abstract

The main purpose of this study is to investigate product price changes from the stockholders' perspective. Our evidence indicates that stockholders react positively to a price increase at the time of the Wall Street Journal announcement. In the event of a price cut, stockholders show little reaction. In a longer interval, however, both price increases and price cuts are associated with negative stock returns. Our analysis also suggests that firms that initiate price changes experience declining sales prior to the price change decisions.

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Managerial Finance, vol. 22 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 14 April 2014

K. Sivakumar

– This research aims to examine the role of national culture dimensions in the nature of tier competition between high-tier brands and low-tier brands.

Abstract

Purpose

This research aims to examine the role of national culture dimensions in the nature of tier competition between high-tier brands and low-tier brands.

Design/methodology/approach

It starts with a conceptual framework based on prospect theory to explain the asymmetric inter-tier competition. It then describes how the national culture dimensions influence the implications of prospect theory and as a result, the nature of inter-tier competition. The paper uses Hofstede's framework to operationalize national culture and derives a number of research propositions that explicate the role of national culture in inter-tier price competition.

Findings

The study finds that the extent of asymmetry favouring high-tier brands over low-tier brands depends on the national culture dimensions. Whereas high levels of individualism, power distance, uncertainty avoidance, and masculinity increase the asymmetry favouring high-tier brands, higher long-term orientation decreases asymmetric price competition favouring high-tier brands.

Practical implications

The findings offer important guidelines for understanding the nature of inter-tier price competition as a function of national culture.

Originality/value

This is the first study to extend inter-tier price competition in the global setting and also the first study that links national culture with prospect theory to examine the boundary conditions of inter-tier price competition.

Details

Journal of Product & Brand Management, vol. 23 no. 2
Type: Research Article
ISSN: 1061-0421

Keywords

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Article
Publication date: 29 August 2019

Sijia Zhang and Andros Gregoriou

The purpose of this paper is to examine stock market reactions and liquidity effects following the first bank loan announcement of zero-leverage firms.

Abstract

Purpose

The purpose of this paper is to examine stock market reactions and liquidity effects following the first bank loan announcement of zero-leverage firms.

Design/methodology/approach

The authors use an event studies methodology in both a univariate and multivariate framework. The authors also use regression analysis.

Findings

Using a sample of 96 zero-leverage firms listed on the FTSE 350 index over the time period of 2000–2015, the authors find evidence of a significant and permanent stock price increase as a result of the initial debt announcement. The loan announcement results in a sustained increase in trading volume and liquidity. This improvement continues to persist once the authors control for stock price and trading volume effects in both the short and long run. Furthermore, the authors examine the spread decomposition around the same period, and discover the adverse selection of the bid–ask spread is significantly related to the initial bank loan announcement.

Research limitations/implications

The results can be attributed to the information cost/liquidity hypothesis, suggesting that investors demand a lower premium for trading stocks with more available information.

Originality/value

This is the first paper to look at multiple industries, more than one loan and information asymmetry effects.

Details

Journal of Economic Studies, vol. 46 no. 5
Type: Research Article
ISSN: 0144-3585

Keywords

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Article
Publication date: 1 February 1985

Lynette L. Knowles and Ike Mathur

Applied transfer pricing information has repeatedly been proven difficult to gather. Many enterprises work under secrecy regarding transfer pricing systems, believing that…

Abstract

Applied transfer pricing information has repeatedly been proven difficult to gather. Many enterprises work under secrecy regarding transfer pricing systems, believing that caution used in revealing information stymies possible problems related to transfer pricing that can involve internal and/or external factors. Even though there is some controversy concerning the appropriateness of the amount of data used in the research, interested parties can still benefit through studies of the transfer pricing literature.

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Managerial Finance, vol. 11 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 May 1971

Earliest localism was sited on a tree or hill or ford, crossroads or whenceways, where people assembled to talk, (Sax. witan), or trade, (Sax. staple), in eggs, fowl, fish…

Abstract

Earliest localism was sited on a tree or hill or ford, crossroads or whenceways, where people assembled to talk, (Sax. witan), or trade, (Sax. staple), in eggs, fowl, fish or faggots. From such primitive beginnings many a great city has grown. Settlements and society brought changes; appointed headmen and officials, a cloak of legality, uplifted hands holding “men to witness”. Institutions tend to decay and many of these early forms passed away, but not the principle vital to the system. The parish an ecclesiastical institution, had no place until Saxons, originally heathens, became Christians and time came when Church, cottage and inn filled the lives of men, a state of localism in affairs which endured for centuries. The feudal system decayed and the vestry became the seat of local government. The novels of Thomas Hardy—and English literature boasts of no finer descriptions of life as it once was—depict this authority and the awe in which his smocked countrymen stood of “the vicar in his vestry”. The plague freed serfs and bondsmen, but events, such as the Poor Law of 1601, if anything, revived the parish as the organ of local government, but gradually secular and ecclesiastical aspects were divided and the great population explosion of the eighteenth century created necessity for subdivision of areas, which continued to serve the principle of localism however. The ballot box completed the eclipse of Church; it changed concepts of localism but not its importance in government.

Details

British Food Journal, vol. 73 no. 5
Type: Research Article
ISSN: 0007-070X

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