Applying the real options valuation to measure merger and acquisition (M&A) synergy is highly debatable, with questions arising from the usefulness of this approach in real-world settings. Understanding the full benefits (and possible limits) of real options applications to measure synergy in...

This paper aims to justify propositions that the dynamic political capabilities of collaborative partners to manage their institutional contexts are important drivers of collaborative synergies which can be valued by real options. To date, the institutional context of collaborative corporate...