Search results

1 – 10 of over 116000
To view the access options for this content please click here
Article
Publication date: 1 February 1973

R.S. Mason

Customer location is a market‐limiting factor for the great majority of manufacturers. Under any full‐cost pricing system, companies are at their most competitive on their…

Abstract

Customer location is a market‐limiting factor for the great majority of manufacturers. Under any full‐cost pricing system, companies are at their most competitive on their own doorstep and their appeal to the consumer diminishes as both the buyer's distance from the plant and the delivered price of products increase. For heavy industrial goods with a low value to weight ratio this is particularly true. The geography of actual and potential markets determines to a great extent the delivered price at which a firm is able to offer its products for sale and, as a consequence, the degree to which any particular market is exploitable.

Details

International Journal of Physical Distribution, vol. 3 no. 5
Type: Research Article
ISSN: 0020-7527

To view the access options for this content please click here
Article
Publication date: 1 March 1982

In this paper the main objectives of transfer pricing are discussed as well as methods that have been suggested for each objective to be achieved. Also investigated are…

Abstract

In this paper the main objectives of transfer pricing are discussed as well as methods that have been suggested for each objective to be achieved. Also investigated are the interrelationships among transfer pricing objectives, methods, and circumstances under which companies operate

Details

Managerial Finance, vol. 8 no. 3/4
Type: Research Article
ISSN: 0307-4358

To view the access options for this content please click here
Article
Publication date: 1 February 1988

Peter Bowbrick

What is the value of public price information systems for wholesale marketing in EC horticulture? Before the advent of today's advanced marketing theory and channelling of…

Abstract

What is the value of public price information systems for wholesale marketing in EC horticulture? Before the advent of today's advanced marketing theory and channelling of information these systems were considered in some quarters to be advantageous but the ramifications of the modern marketing scene and expenditure on modern technology lead some observers to wonder if they are practical and worthwhile. The conclusion here appears to be that in view of their many deficiencies horticulture will be no worse off without them.

Details

British Food Journal, vol. 90 no. 2
Type: Research Article
ISSN: 0007-070X

Keywords

To view the access options for this content please click here
Article
Publication date: 1 January 1985

Yehoshua Liebermann

Currently, inflation seemingly has ceased to be a serious problem to several western economies. Yet, its potential threat is not necessarily over, and changes in overall…

Abstract

Currently, inflation seemingly has ceased to be a serious problem to several western economies. Yet, its potential threat is not necessarily over, and changes in overall economic policies may reactivate inflationary pressures. Furthermore, in many industrialized as well as less developed countries, inflation is still a central problem whose influences cannot he ignored especially for exporters. It is the purpose of this article to analyze the effect of inflationary pricing on various dimensions of marketing activity. At this stage the emphasis is mainly theoretical. Nevertheless, the time to prepare for inflation is before it occurs.

Details

Journal of Consumer Marketing, vol. 2 no. 1
Type: Research Article
ISSN: 0736-3761

To view the access options for this content please click here
Article
Publication date: 1 February 1994

Jerome L. Stein

Holbrook Working (1949) discovered that the percentage change in futures prices seemed to be largelyrandom. This led Paul Samuelson (1965) to develop the Efficient Market

Abstract

Holbrook Working (1949) discovered that the percentage change in futures prices seemed to be largelyrandom. This led Paul Samuelson (1965) to develop the Efficient Market Hypothesis (EMH) which claims that the current spot and futures1 prices fully reflect all relevant information. Furthermore, because the future flow of information cannot be anticipated, price changes will not be serially correlated. These papers linked the notion of randomness of price changes to informational efficiency. From that point on, a major part of the empirical studies of asset markets has been the application of time series analysis to asset prices, in order to evaluate whether the price changes are random and whether futures prices reflect all available information. As the statistical tests became more sophisticated, the number of empirical studies increased and the results became more contradictory and difficult to interpret. An economic theorist can only be bemused by contemplating the empirical/econometric studies in the finance literature.

Details

Managerial Finance, vol. 20 no. 2
Type: Research Article
ISSN: 0307-4358

To view the access options for this content please click here
Article
Publication date: 1 August 1998

Sarah Maxwell

In the affluent 1960s and 1970s, consumers tended to be price insensitive. Business consequently placed a low priority on pricing, and marketing educators in the USA…

Abstract

In the affluent 1960s and 1970s, consumers tended to be price insensitive. Business consequently placed a low priority on pricing, and marketing educators in the USA responded by stressing the non‐price elements of the marketing mix. As a result, when consumers became more price sensitive in the 1980s and 1990s, and business became more concerned about pricing, marketing was not involved. Now, however, marketing educators are beginning to respond to the renewed emphasis on price as a key component in consumers’ perceived value. A new study shows an increase from 4 to 13 percent of US marketing education programs now including a course in pricing; another 22 percent are interested in adding one within two years.

Details

Journal of Product & Brand Management, vol. 7 no. 4
Type: Research Article
ISSN: 1061-0421

Keywords

To view the access options for this content please click here
Article
Publication date: 10 April 2007

Jeff Madura and Nivine Richie

The purpose of this article is to assess the pricing of stocks that are traded on both a US stock exchange and a non‐US stock exchange to determine whether interaction…

Abstract

Purpose

The purpose of this article is to assess the pricing of stocks that are traded on both a US stock exchange and a non‐US stock exchange to determine whether interaction exists between the two exchanges.

Design/methodology/approach

This article identifies extreme price movements of stocks (winners and losers) in the non‐US stock exchanges that also trade as American depository receipts (ADRs) in the US market, and measure the US market response. Also identifies extreme price movements of stocks (winners and losers) in the US stock exchanges that also trade in the non‐US markets, and measure the non‐US market response.

Findings

Finds a significant reversal of winners and losers in the US market, which suggests that the US market attempts to correct the pricing in non‐US markets. Also finds that extreme ADR price movements in the US markets are followed by corrections in the non‐US market.

Research limitations/implications

Market participants appear to monitor unusual stock price movements that just occurred in other markets, and correct for unusual price movements that cannot be rationalized. Such activity in global markets expedites the process by which price discrepancies are corrected. The evidence also suggests that the cost of equity in one market can be influenced by the actions of investors in another market.

Originality/value

This study of non‐US stocks that are cross‐listed in the US in the form of ADRs allows us to examine the interaction of pricing in a stock's local market with pricing in the US market.

Details

International Journal of Managerial Finance, vol. 3 no. 2
Type: Research Article
ISSN: 1743-9132

Keywords

To view the access options for this content please click here
Article
Publication date: 1 June 2010

Stanley McGreal, Louise Brown and Alastair Adair

The purpose of this paper is to explore how the difference between the sale price and list price of houses varies across the market cycle.

Abstract

Purpose

The purpose of this paper is to explore how the difference between the sale price and list price of houses varies across the market cycle.

Design/methodology/approach

The paper utilises quarterly transaction‐based information on house prices from the Belfast Metropolitan Area. The information is structured on a time series basis from 2002 to 2008. The analysis is concerned with the mean differences between list price and sale price, the standard deviation of the differences, the skewness and kurtosis of the distributions.

Findings

The results show that under normal market conditions the mean deviation between list price and sale price is small circa 1 per cent. However, the departure between list price and sale price becomes substantial on both the up‐ and down‐cycles of the market. The analysis shows that the highest mean positive deviation of 12.1 per cent occurred in the first quarter of 2007 and two quarters before sale prices peaked, suggesting that buyer bidding behaviour was changing prior to the market peak. The extent of market change is highlighted by the mean negative deviation of 8.6 per cent for the fourth quarter of 2008. The results demonstrate that volatility increases over the cycle and distributions of price differences are lower and flatter.

Originality/value

This paper breaks new ground through the analysis of differences between list and sale price in a period of high volatility in the housing market. The analysis shows how list price lags sale price on the up‐cycle but leads on the down‐cycle.

Details

International Journal of Housing Markets and Analysis, vol. 3 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

To view the access options for this content please click here
Article
Publication date: 1 January 1991

Richard A. Lancioni

Pricing is a primary factor in international business success.Conventional price definitions are too narrow and a wider definition,taking account of intangible as well as…

Abstract

Pricing is a primary factor in international business success. Conventional price definitions are too narrow and a wider definition, taking account of intangible as well as tangible product qualities, is more applicable. A firm needs to know the identities and strengths of its competitors. It must identify market segments and choose those in which to concentrate its efforts. Other factors must also be considered, including the stage in the product life cycle and the firm′s marketing strategy. This article describes the five major pricing axioms in international marketing and concludes that although pricing in international markets is not an easy task, by better understanding the international marketing environment, a company can more effectively set prices and be competitive.

Details

Management Decision, vol. 29 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

To view the access options for this content please click here
Article
Publication date: 16 June 2021

Xin Zhong

The purpose of this study is to examine the performances of liquidity factors in the stock market cycle. It aims to investigate whether the contribution of liquidity…

Abstract

Purpose

The purpose of this study is to examine the performances of liquidity factors in the stock market cycle. It aims to investigate whether the contribution of liquidity factors changes with stock market trends.

Design/methodology/approach

Six liquidity proxies and two-factor construction methods are compared in this study. The spanning regression method was applied to examine the contribution of liquidity factors to the asset pricing model, while the Fama and MacBeth regression method was used for examining the pricing power of liquidity factors.

Findings

The result shows that liquidity factors are accretive to models explaining returns in bull markets but not accretive to models in bear markets. The most appropriate method of constructing liquidity factors in the Japanese stock market has also been clarified.

Originality/value

In the Japanese stock market, there has never been a comprehensive test of the role of the liquidity risk factor in different market trends using the long-run data. This study helps with identifying the importance of liquidity pricing risk in different market trends. It also fills the gaps by comparing liquidity factors that are constructed through different methods and proxies and provides evidence for further confirming the correct asset pricing model in the future.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

1 – 10 of over 116000