 Foreign-currency transactions and the recovery of German industry in the aftermath of the First World War: the case of Schering AGChristopher Kobrak Accounting History Review, 2002, vol. 12, issue 1, 25-42 Abstract: While historians have for a long time recognized the importance of the First World War to the general flow of history, business economists do not fully appreciate the impact of the war on commercial relationships. The First World War transformed the political, economic, and social context, in which business was done, forcing companies to develop new strategies and activities, some of which were almost unimaginable before August 1914. This article focuses on one aspect of doing business: foreign exchange management. It argues that Schering AG and its parent, like many German companies after the First World War, were obliged to refocus their activities around their foreign exchange exposures and that the management of foreign exchange issues contributed to a much tighter relationship between businesses, government, and business associations than had existed before the war and for which some aspects of Germany's system of corporate control were not well adapted to handle. Keywords: Germany; Schering Ag; Chemical Industry; Foreign Exchange Management; Interwar Recovery; Business History (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:acbsfi:v:12:y:2002:i:1:p:25-42 Ordering information: This journal article can be ordered from DOI: 10.1080/09585200110107948 Access Statistics for this article Accounting History Review is currently edited by Stephen Walker More articles in Accounting History Review from Taylor & Francis Journals |
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