Strategic Investment: Real Options and Games (絕)
- 20本以上，享 8.5折
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- 一般書籍
- ISBN：9780691010397
- 作者：Han T. J. Smit
- 版次：1
- 年份：2004
- 出版商：Princeton University
- 頁數/規格：471頁
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本書特色
作者介紹
Description
Corporate finance and corporate strategy have long been seen as different sides of the same coin. Though both focus on the same broad problem, investment decision-making, the gap between the two sides--and between theory and practice--remains embarrassingly large. This book synthesizes cutting-edge developments in corporate finance and related fields--in particular, real options and game theory--to help bridge this gap. In clear, straightforward exposition and through numerous examples and applications from various industries, Han Smit and Lenos Trigeorgis set forth an extended valuation framework for competitive strategies.
The book follows a problem-solving approach that synthesizes ideas from game theory, real options, and strategy. Thinking in terms of options-games can help managers address questions such as: When is it best to invest early to preempt competitive entry, and when to wait? Should a firm compete in R&D or adopt an accommodating stance? How does one value growth options or infrastructure investments? The authors provide a wide range of valuation examples, such as acquisition strategies, R&D investment in high-tech sectors, joint research ventures, product introductions in consumer electronics, infrastructure, and oil exploration investment.
Representing a major step beyond standard real options or strategy analysis, and extending the power of real options and strategic thinking in a rigorous fashion, Strategic Investment will be an indispensable guide and resource for corporate managers, MBA students, and academics alike.
Corporate finance and corporate strategy have long been seen as different sides of the same coin. Though both focus on the same broad problem, investment decision-making, the gap between the two sides--and between theory and practice--remains embarrassingly large. This book synthesizes cutting-edge developments in corporate finance and related fields--in particular, real options and game theory--to help bridge this gap. In clear, straightforward exposition and through numerous examples and applications from various industries, Han Smit and Lenos Trigeorgis set forth an extended valuation framework for competitive strategies.
The book follows a problem-solving approach that synthesizes ideas from game theory, real options, and strategy. Thinking in terms of options-games can help managers address questions such as: When is it best to invest early to preempt competitive entry, and when to wait? Should a firm compete in R&D or adopt an accommodating stance? How does one value growth options or infrastructure investments? The authors provide a wide range of valuation examples, such as acquisition strategies, R&D investment in high-tech sectors, joint research ventures, product introductions in consumer electronics, infrastructure, and oil exploration investment.
Representing a major step beyond standard real options or strategy analysis, and extending the power of real options and strategic thinking in a rigorous fashion, Strategic Investment will be an indispensable guide and resource for corporate managers, MBA students, and academics alike.
Table of Contents
Part I: Approaches to Strategic Investment
Chapter 1. Corporate Finance and Strategic Planning: A Linkage
Chapter 2. Strategic Management: Competitive Advantage and Value Creation
Chapter 3. Corporate Real Options
Chapter 4. Games and Strategic Decisions
Part II: Competitive Strategy and Games
Chapter 5. Simple Strategic Investment Games
Chapter 6. Flexibility and Commitment
Chapter 7. Value Dynamics in Competitive R & D Strategies
Part III: Applications and Implications
Chapter 8. Case Applications
Chapter 9. Continuous-Time Models and Applications
Chapter 10. Overview and Implications
Part I: Approaches to Strategic Investment
Chapter 1. Corporate Finance and Strategic Planning: A Linkage
Chapter 2. Strategic Management: Competitive Advantage and Value Creation
Chapter 3. Corporate Real Options
Chapter 4. Games and Strategic Decisions
Part II: Competitive Strategy and Games
Chapter 5. Simple Strategic Investment Games
Chapter 6. Flexibility and Commitment
Chapter 7. Value Dynamics in Competitive R & D Strategies
Part III: Applications and Implications
Chapter 8. Case Applications
Chapter 9. Continuous-Time Models and Applications
Chapter 10. Overview and Implications
Han T. J. Smit is HAL Professor of Private Equity at Erasmus University in Rotterdam. Lenos Trigeorgis has been the Bank of Cyprus Chair Professor of Finance at the University of Cyprus and Visiting Professor of Finance at the University of Chicago. His book "Real Options" is a classic in the field.
