Real options and signaling in strategic investment games between two asymmetric firms
His book "Real Options" is a classic in the field. About This Book xxiii I. Real Options and Games: Linking Corporate Finance and Strategy xxiv I. An Overview of the Book xxviii Part I: A Linkage 3 1.
The Market Value of Growth Opportunities 5 1. Value Drivers of NPV 14 1. Drivers of Flexibility or Growth Option Value 21 1. Drivers of Strategic Value and Strategic Moves 24 1. Value Creation in Strategic Planning 32 1. Conclusions 33 Chapter 2 Strategic Management: Competitive Advantage and Value Creation 35 2.
Views of Value Creation of the Firm 38 2. Industry and Competitive Analysis 40 2. Strategic Conflict and Game Theory 43 2. Internal, Resource-Based View of the Firm 45 2. Dynamic Capabilities 49 2. A Linkage Approach 51 2. Competitive Advantage and Industry Evolution 53 2. Competitive Advantage in the Early and Growth Stages 54 2. Competitive Advantage in Mature Businesses 58 2.
Creative Destruction and Adaptation as Source of Advantage 60 2. Portfolio Planning of Growth Opportunities 68 2. Boston Consulting Group Matrix 70 2. Exercise Timing of Options: The Tomato Garden Analogy 72 2. Real-Options Growth Matrix 76 2. Conclusions 90 Chapter 3 Corporate Real Options 93 3.
Options Valuation 94 3. Basic Nature of Options 98 3. From Financial to Real Options Valuation 3. Overview of Common Real Options 3. The Simple Option to Defer 3. Options to Expand or Contract 3. The Option to Temporarily Shut Down 3. Options to Switch Inputs or Outputs 3. Valuing a Research and Development Program 3. An In-Depth Case Application: Valuing Offshore Oil Concessions in the Netherlands 3. Valuation Based on Replication in Financial Markets 3. Main Insights 3.
Summary and Conclusions Appendix 3. The Rules of the Game 4. A Taxonomy of Basic Games 4. Asymmetric Innovation Race and Preemption 4. Competitive Reactions in Quantity versus Price Competition 4. Quantity Competition 4. Price Competition 4. Type of Competitive Reaction: Strategic Substitutes versus Complements 4.
Strategic Value of Early Commitment 4. Direct versus Strategic Effects of Investment Commitment 4. Summary and Conclusions Appendix 4. One-Stage Strategic Investments 5. Two-Stage Investments with Endogenous Competition 5. Competition in Last Production Stage: Contrarian versus Reciprocating Competition 5. Competition in Innovation Investment: Time-to-Market Races and Strategic Alliances 5. Cooperation in the First Stage: Summary and Conclusions Chapter 6 Flexibility and Commitment 6.
The Basic Two-Stage Game 6. Equilibrium Quantities, Prices, and Payoff Values 6. Valuation of Competitive Strategies 6. Summary and Conclusions Appendix 6. Signaling Effects 7. Learning Experience Cost Effects 7. Applications and Implications Chapter 8 Case Applications 8. Strategic Games in Consumer Electronics 8. Buy-and-Build Platform Acquisition Strategies 8. Classifying Acquisitions Based on Options and Games 8.
Competition in a Buy-and-Build Strategy 8. The Case of European Airport Expansion 8. Infrastructure Investment and Aviation Developments 8. Infrastructure Valuation as an Options Game 8. Implementation in the Case of Schiphol Airport 8. Introduction and Overview 9. Equilibrium Output and Values 9.
Strategic Entry Decisions 9. Equilibrium Entry and Critical Demand Thresholds 9. Symmetric Competition and Monopoly 9.
Strategic Investment Timing under Uncertainty 9. Strategic Interactions and the Timing of Investment 9. Innovation with Uncertainty over Completion and Time Delays 9. Exercise Strategies under Incomplete Information with Applications 9.
Entry and Preemption under Incomplete Information 9. Equilibrium Investment Strategies under Imperfect Competition 9. Investment Strategies under Asymmetric Information 9. Conclusions Appendix 9. Linking Corporate Finance and Strategic Planning Implications of the Strategic Options and Games Framework Timing Games for Simple Commercial Options Investment Games Involving Strategic Options Empirical Implications References Index Anmeldung Mein Konto Merkzettel 0.
Modelle Anatomische Modelle Somso-Modelle. Strategic Investment Real Options and Games. SmitLenos Trigeorgis Autoren.
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