?????:Real Option????? - PowerPoint PPT Presentation

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?????:Real Option?????

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A real options logic for initiating technology positioning investments. Academy of Management Review, 22: 974 996. McGrath, R. G. 1999. – PowerPoint PPT presentation

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Title: ?????:Real Option?????


1
?????Real Option?????
  • ???????????????????
  • 1.Pay-Off ???????
  • 2.Option?????
  • 3.????(?????????????)
  • ???? ???????
  • ?? ???? 2011.10
  • ?????

2
REAL OPTION ????????? (RO??????????????)
3
1.Pay-Off ???????
??????????????????(????) ?1.????????????
????????????? ????????? ?2.?????????????
?????????RO?? ????????? ???? ????
4
??????????????
5
??????????(??) (???????)
6
?????????????
7
CDFNPV ???(??)
8
RO????
9
????
  • ?WHAT IS NOT A REAL OPTION CONSIDERIN
    BOUNDARIES FOR THE APPLICATION OF REAL OPTIONS TO
    BUSINESS STRATEGY? RON ADNER INSEAD DANIEL A.
    LEVINTHAL
  • The Wharton School, University of Pennsylvania
    Academy of Management Review 2004, Vol. 29, No.
    1, 7485.
  • Lynn, G. S., Morone, J. G., Paulson, A. S.
    1996. Marketing and discontinuous innovation The
    probe and learn process.California Management
    Review, 38(3) 837.
  • Maidique, M. 1980. Entrepreneurs, champions, and
    technological innovation. Sloan Management
    Review, 21(2) 5976.March, J. G. 1988. Decisions
    and organizations. OxfordBlackwell.
  • March, J. G., Simon, H. A. 1958.
    Organizations. New York
  • Wiley.McGrath, R. G. 1997. A real options logic
    for initiating technology positioning
    investments. Academy of Management Review, 22
    974996.
  • McGrath, R. G. 1999. Falling forward Real
    options reasoning and entrepreneurial failure.
    Academy of Manageme
  • Review, 24 1330.
  • McGrath, R. G., MacMillan, I. C. 2000. The
    entrepreneurial mindset. Cambridge, MA Harvard
    Business School Press.
  • Miller, K. D., Reuer, J. J. 1998. Firm
    strategy and economic exposure to foreign
    exchange rate movements. Journal of International
    Business Studies, 29 493514.
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