A real options logic for initiating technology positioning investments

被引:479
作者
McGrath, RG [1 ]
机构
[1] Columbia Univ, Management Org Div, Columbia Business Sch, New York, NY 10027 USA
[2] Columbia Univ, Wharton Sch, Snider Entrepreneurial Ctr, New York, NY 10027 USA
关键词
D O I
10.2307/259251
中图分类号
F [经济];
学科分类号
02 ;
摘要
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.
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页码:974 / 996
页数:23
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