Innovations in financial services continuously influence the scope of financial intermediation and the nature of competition between intermediaries. This paper examines the optimal exercise of strategic real options to invest in such an innovation, Internet banking technology, within a two-stage...

4th edition

5th edition.

Globalization is forcing regions throughout the nation to find new competitive niches in rapidly changing markets. The resulting quest for new economic engines is different in every region, driven by a region’s distinct economic assets and the specific markets it can tap. At the same time,...