Real Options and Interactions with Financial Flexibility
综述实物期权文献与量化方法，并首次探讨实物期权与财务灵活性的互动，帮助管理者分析实际与金融期权的价值交互。
This article serves two main purposes. First, it aims to provide a comprehensive overview of the existing real options literature and applications, as well as to present practically useful principles for quantifying the value of various real options. Second, it takes a first step towards extending the real options literature to recognize various interactions with financial flexibility. Overall, the paper illustrates how to practically analyze managerial flexibility in the case of various types of both real as well as financial options, recognizing that these option values may interact.