Technological strategic alliance (TSA) formation represents an important competitive mechanism for firms, and it can be considered as a real option on future technological opportunities. Our objective is to analyse, under a real options reasoning, how firms decide between forming TSAs or...

The aim of this paper is to examine the notion that the market value of companies reflects the investors? expectations with regard to the value of real options. We test the empirical relation between alternative estimates of the proportion of total firm market value accounted for by the value of...