Real Options Analysis in Strategic Decision Making: An applied approach in a dual options framework
作者: Torben Juul Anderson
刊名: Journal of Applied Management Studies, 2000, Vol.9 (2), pp.235-255
来源数据库: Taylor & Francis Journal
DOI: 10.1080/713674366
原始语种摘要: There is growing interest in real options theoretical perspectives to guide both capital budgeting and strategic decisions in dynamic environments. In contrast to the conventional use of discounted cash flows in capital budgeting and competitive analysis in strategy, a strategic options perspective provides a more proactive assessment of future business opportunities under uncertainty. Real options theory has shown potential for analytical applications in strategic management, particularly to evaluate flexibility and timing issues. Yet the options approach has not been widely incorporated to analyse business opportunities and adaptability in strategic investment decisions. There is a discrepancy between the mathematical sophistication of option pricing models developed in financial...
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