Developing a technology standard requires significant upfront investment. The value of a new technology depends on how it is deployed (whether proprietary use or licensing) and is uncertain at the time of investment. Hence, the rules governing investments in technology development must be...

There is a growing trend by established firms to use a multitude of External Corporate Venturing (ECV) mechanisms (alliances, partnerships, joint ventures, acquisitions, licensing agreements and investments in corporate venture capital) to acquire external innovations. In this paper, we develop...

The multinational corporation is a network of activities located in different countries. The value of this network derives from the opportunity to benefit from uncertainty through the coordination of subsidiaries which are geographically dispersed. We model this coordination as the operating...

We provide a strategic rationale for growth options under uncertainty and imperfect competition. In a market with strategic competition, investment confers a greater capability to take advantage of future growth opportunities. This strategic advantage leads to the capture of a greater share of...

Purpose - This paper aims to discuss how firms make investment decisions and the impact of these decisions on firm value, considering the strategic impacts of such investments. Design/methodology/approach -Built on real options and game-theoretic models, simulations are used to find out how...