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Starting an R&D project under uncertainty
Dobbelaere, Sabien; Luttens, Roland Iwan; Peters, Bettina - 2010
differences in risk premia. We deduct testable hypotheses on the basis of which we empirically analyze the impact of uncertainty …
Persistent link: https://www.econbiz.de/10011378299
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The impact of uncertainty on investment : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...
Persistent link: https://www.econbiz.de/10011349194
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A real options perspective on R&D portfolio diversification
Bekkum, Sjoerd van; Pennings, Enrico; Smit, Han T. J. - 2008
Persistent link: https://www.econbiz.de/10003645082
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Consolidation waves
Berg, Ward A. van den; Smit, Han T. J. - 2007
Persistent link: https://www.econbiz.de/10003482665
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Consolidation waves
Berg, Ward A. van den; Smit, Han T. J. - 2007
This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is likely to play in the consolidation game. We propose that whether a firm assumes the role of rival consolidator, target, or passive observer depends on the position of the firm...
Persistent link: https://www.econbiz.de/10011372521
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Global aging and economic convergence : a real option or still a case of science fiction?
Dalen, Hendrik P. van - 2007
How does global aging affect the convergence in global economic development? Both the developing and developed world will be characterized for the coming decades by aging populations. Changes in the age distribution of a population are an important determinant of economic performance as they...
Persistent link: https://www.econbiz.de/10011372996
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A real options perspective on R&D portfolio diversification
Bekkum, Sjoerd van; Pennings, Enrico; Smit, Han T. J. - 2008
portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option …. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and … are different from unconditional projects. We show that although the risk of a portfolio always depends on the correlation …
Persistent link: https://www.econbiz.de/10011373815
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Internet portals as portfolios of entry options
Perotti, Enrico C.; Rossetto, Silvia - 2000
We investigate the valuation of platform investment, such as asoftware operating system or anInternet portal WebPage. Platform investment is the creation of aninnovative distribution andproduction infrastructure, which increases access to customers; as aresult it reduces entry costs inrelated...
Persistent link: https://www.econbiz.de/10011304383
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Asset pricing in incomplete markets : valuing gas storage capacity
Zhao, Lin; Wijnbergen, Sweder van - 2015
. Moreover, one interesting implication is that the implied average risk aversion of investor for a storage contract increases … hedging product for the spot market, and the demand for this product is high when the market becomes risky: more risk averse …
Persistent link: https://www.econbiz.de/10011333083
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Acquisitions as a real options bidding game
Smit, Han T. J.; Berg, Ward A. van den; De Maeseneire, … - 2005
This paper uses a unified treatment of real options and game theory to examine value appropriation in takeovers within a competitive environment of imperfect information. The integrated model considers a potential target as a shared real option on a bundle of resources. Competing potential...
Persistent link: https://www.econbiz.de/10011337396