The Foreign Exchange Market of London

Atkin, John

doi:10.4324/9780203322697

Cited by 18 publications

(15 citation statements)

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“…2,3). However, formalization in terms of clearly defined roles and responsibilities is an important organizational dimension of pricing processes (Smith, 1995;Atkin & Skinner, 1977;Carricano, Trinquecoste & Mondejar, 2010;Nagle, Hogan & Zale, 2011;Shapiro, 1983). This is reflected by Nagle et al (2011) who note "failure to formally allocate pricing decision rights leads to more inconsistent pricing and greater conflict as managers attempt to influence pricing decisions" (p. 180).…”

Section: Fundamental Organizational Dimensionsmentioning

confidence: 99%

Organizing for value appropriation: Configurations and performance outcomes of price management

Burkert

Ivens

Henneberg

et al. 2017

Industrial Marketing Management

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Value creation and value appropriation are fundamental strategic processes. Both can be analyzed at the level of the individual manager, an organization or at the systemic level. On the organizational level, empirical research so far has put strong emphasis on aspects of value creation, while value appropriation has received less attention. We analyze value appropriation through the organizational implementation of pricing processes in the context of formalization, specialization, centralization, dispersion of influence, and top-management involvement in firms' pricing organization. Through a large-scale exploratory study of 419 European companies in the B2B area, we identify five empirical organizational configurations of pricing organization for value appropriation. Testing the effects of pricing configurations relating to pricing performance as well as overall firm performance reveals that more systematic approaches to pricing organization significantly improve value appropriation outcomes. Opposed Reviewers: Response to Reviewers: Reviewer #1: A very well written and interesting paper based on an extensive review of the literature to synthesize into a comprehensive conceptual framework tested in a large scale survey to generate clusters to then test for performance of different organizational approaches to pricing. The only comment I have is that in reporting the results the authors describe the performance levels of the different clusters but do not give the data on performance outcomes. The results section in general should in my view select data to support the interpretation.-> Response to reviewer comment 1: Dear reviewer, thank you very much for your positive feedback on our manuscript. We fully acknowledge that including actual data in the results section facilitates reading and comparing these results and, thus, improves the manuscript. Hence, we have inserted the numbers of our results as an addition to the verbal formulations, both for the description of clusters and in the discussion of performance outcomes.

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Section: Fundamental Organizational Dimensionsmentioning

confidence: 99%

Organizing for value appropriation: Configurations and performance outcomes of price management

Burkert

Ivens

Henneberg

et al. 2017

Industrial Marketing Management

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“…Our start date of 1919 reflects the establishment of a forward currency market in London for the first time, together with a modern spot market based on dealings by telegraphic transfer (Accominotti and Chambers (2016)). It is in this period that London emerged as the major global center of currency trading (Atkin ((2005), pp. 40-41)).…”

Section: Datamentioning

confidence: 99%

“…Restrictions on foreign exchange trading in London existed between the outbreak of World War II (WWII) in September 1939 and the reintroduction of sterling convertibility 8 for non-residents in Dec. 1958(Atkin ((2005, pp. 101-112)).…”

Section: Datamentioning

confidence: 99%

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Currency Regimes and the Carry Trade

Accominotti¹,

Cen²,

Chambers³

et al. 2019

J. Financ. Quant. Anal.

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This study exploits a new long-run data set of daily bid and offered exchange rates in spot and forward markets from 1919 to the present to analyze carry returns in fixed and floating currency regimes. We first find that outsized carry returns occur exclusively in the floating regime, being zero in the fixed regime. Second, we show that fixed-to-floating regime shifts are associated with negative returns to a carry strategy implemented only on floating currencies, robust to the inclusion of volatility risks. These shifts are typically characterized by global flight-to-safety events that represent bad times for carry traders.

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“…It is doubtful that changes in the exchange rate tracked by figure 3 were caused by British government policy. Atkin (2005) states clearly that the Spanish -British exchange rate was not one of the key ones for Great Britain during World War I. Second, there were no currency controls even though there were other controls such as the prohibition of buying foreign securities.…”

Section: Peseta To Pound Exchange Ratementioning

confidence: 99%

John Maynard Keynes, Man or Myth? The Incident of the Spanish Pesetas

Zagorsky

2019

SSRN Journal

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The Foreign Exchange Market of London

Cited by 18 publications

References 0 publications

Organizing for value appropriation: Configurations and performance outcomes of price management

Organizing for value appropriation: Configurations and performance outcomes of price management

Currency Regimes and the Carry Trade

John Maynard Keynes, Man or Myth? The Incident of the Spanish Pesetas

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