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Option chain and change management: A structural equation application

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  • Burger-Helmchen, Thierry

Abstract

Summary Building on concepts from a resource-based view of a firm and real option theory we propose a model that describes the links between a firm options development and the expected profitability. Empirical results of structural equation models on the video-game industry indicate that (i) the balance between industry innovativeness and firm innovativeness affects the perception of potential option, (ii) the industry threats and firm competences mediate the transformation of real option into profitable product, (iii) the strategic choice of project to be developed in a creative industry can be satisfactorily modelled by the option chain model.

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Bibliographic Info

Article provided by Elsevier in its journal European Management Journal.

Volume (Year): 27 (2009)
Issue (Month): 3 (June)
Pages: 176-186

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Handle: RePEc:eee:eurman:v:27:y:2009:i:3:p:176-186

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Related research

Keywords: Innovation and change management Real options Structural equation analysis Video-game industry;

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References

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  1. John A. Mathews, 2003. "Strategizing by firms in the presence of markets for resources," Industrial and Corporate Change, Oxford University Press, vol. 12(6), pages 1157-1193, December.
  2. Luigi Zingales, 2000. "In Search of New Foundations," Journal of Finance, American Finance Association, vol. 55(4), pages 1623-1653, 08.
  3. Andrew H. Van de Ven, 1986. "Central Problems in the Management of Innovation," Management Science, INFORMS, vol. 32(5), pages 590-607, May.
  4. Rita Gunther McGrath & Ming-Hone Tsai & S. Venkataraman & I. C. MacMillan, 1996. "Innovation, Competitive Advantage and Rent: A Model and Test," Management Science, INFORMS, vol. 42(3), pages 389-403, March.
  5. Bruce Kogut, 1991. "Joint Ventures and the Option to Expand and Acquire," Management Science, INFORMS, vol. 37(1), pages 19-33, January.
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Citations

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Cited by:
  1. Pätäri, Satu & Kyläheiko, Kalevi & Sandström, Jaana, 2011. "Opening up new strategic options in the pulp and paper industry: Case biorefineries," Forest Policy and Economics, Elsevier, vol. 13(6), pages 456-464, July.
  2. Meixing DAI & Moïse SIDIROPOULOS & Eleftherios SPYROMITROS, 2007. "La transparence de la politique monétaire et la dynamique des marchés financiers," Working Papers of BETA 2007-19, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  3. Estelle Dhont-Peltrault & Etienne Pfister, 2007. "R&D cooperation versus R&D subcontracting: empirical evidence from French survey data," Working Papers of BETA 2007-17, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  4. Gisèle Umbhauer, 2007. "De l’amiante au chrysotile, un glissement stratégique dans la désinformation," Working Papers of BETA 2007-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  5. Li Qin & Eleftherios Spyromitros & Moïse Sidiropoulos, 2007. "Monetary Policy with Uncertain Central Bank Preferences for Robustness," Working Papers of BETA 2007-23, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  6. Meixing DAI, 2007. "A two-pillar strategy to keep inflation expectations at bay: A basic theoretical framework," Working Papers of BETA 2007-20, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  7. Sofia Pessoa e Costa & Stéphane Robin, 2007. "The Impact Of Training Programmes On Wages In France: An Evaluation Of The “Qualifying Contract” Using Propensity Scores," Working Papers of BETA 2007-18, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.

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