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The theories of internalization and internationalization provide general factors of international market entry but are not precise about its timing. A model of waiting and growth options seizes the importance of flexibility to FDI decisions and centers the impact of uncertainty. The results of a...
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The paper underscores the importance of modeling the dynamics of market entry and helps refine the application of real options in the alliance context by providing a closed-form solution in continuous time to value the overall strategic flexibility
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