Valuate Outsourcing Contracts from Vendors' Perspective: A Real Options Approach
从供应商角度出发，运用实物期权理论分析供应商因客户指定时间而失去等待期权的补偿问题，为供应商评估外包机会和决策提供指导。
ABSTRACT To date, most applications of real options theory (ROT) in outsourcing literature are modeled from the clients' side. Little attention has been paid to vendors' options in outsourcing. In this article, we study outsourcing from the vendors' perspective by analyzing vendors' value of waiting. The contribution of our research to the literature lies in our analysis of a model that compensates for vendors' loss of option to wait since they have to exercise outsourcing contracts at clients' given timing. Such a compensation‐oriented model yields new insights about the vendors' valuation of outsourcing opportunities, and offers important practical guidance to vendors' decision making.