Real Options Managerial Flexibility And Strategy In Resource Allocation Pdf

real options managerial flexibility and strategy in resource allocation pdf

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Published: 20.12.2020

Once added, the value of flexibility degrades rapidly.

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(PDF Download) Real Options: Managerial Flexibility and Strategy in Resource Allocation PDF

Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. Trigeorgis Published Economics. In the s and the s, developments in the valuation of capital-investment opportunities based on options pricing revolutionized capital budgeting. Managerial flexibility to adapt and revise future decisions in order to capitalize on favorable future opportunities or to limit losses has proven vital to long-term corporate success in an uncertain and changing marketplace.

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Real Options In Capital Investment : Models, Strategies

Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach based on the pricing of options that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. In the s and the s, developments in the valuation of capital-investment opportunities based on options pricing revolutionized capital budgeting. Managerial flexibility to adapt and revise future decisions in order to capitalize on favorable future opportunities or to limit losses has proven vital to long-term corporate success in an uncertain and changing marketplace. In this book Lenos Trigeorgis, who has helped shape the field of real options, brings together a wealth of previously scattered knowledge and research on the new flexibility in corporate resource allocation and in the evaluation of investment alternatives brought about by the shift from static cash-flow approaches to the more dynamic paradigm of real options—an approach that incorporates decisions on whether to defer, expand, contract, abandon, switch use, or otherwise alter a capital investment. Also discussed are the strategic value of new technology, project interdependence, and competitive interaction. The ability to value real options has so dramatically altered the way in which corporate resources are allocated that future textbooks on capital budgeting will bear little resemblance to those of even the recent past. Real Options is a pioneer in this area, coupling a coherent picture of how option theory is used with practical insights in into real-world applications.

Real options reasoning assumes timely and effective managerial decision making yet does not address managers' ability to provide it. An attention-based view describes managerial behavior under varying structural conditions. I examine real options reasoning from an attention-based view. I develop several testable propositions regarding the effects of a firm's particular concrete and. ABSTRACT: This study uses experimental methods to explore whether incorporating real options into net present value analysis can reduce escalation of commitment, or the tendency of decision makers to continue to commit resources to a project after receiving negative feedback.

Real Options Managerial Flexibility And Strategy In Resource Allocation Pdf

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Real option valuation ROV is a more practical way to solve this problem. Trigeorgis and Reuer [5] reviewed real options theory ROT in strategy.

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Managers making investments under uncertainty can create economic value by building in flexibility, because flexibility has economic value.

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