启动技术定位投资的实物期权逻辑

A Real Options Logic for Initiating Technology Positioning Investments

Academy of Management Review · 1997
被引 720
人大 A+FT50UTD24ABS 4*

中文导读

将实物期权理论扩展到技术定位项目,分析边界条件与不确定性的关系如何影响技术期权的价值及行权时机,并指出通过投资改变边界可放大期权价值。

Abstract

In this article I extend real options theory to technology positioning projects and specify how the relationship between boundary conditions and uncertainty influences the value of a technology option, as well as the appropriate timing of its exercise. I also take a strategic perspective on uncertainty itself, concluding that option value can be amplified by investments to shift boundaries, ideally in ways that are idiosyncratic to the firm.

实物期权技术定位投资边界条件不确定性