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Project Management Under Risk: Using the Real Options Approach to Evaluate Flexibility in R...D

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Cited by:

  1. Eckhause, Jeremy & Herold, Johannes, 2014. "Using real options to determine optimal funding strategies for CO2 capture, transport and storage projects in the European Union," Energy Policy, Elsevier, vol. 66(C), pages 115-134.
  2. Driouchi, Tarik & Leseure, Michel & Bennett, David, 2009. "A robustness framework for monitoring real options under uncertainty," Omega, Elsevier, vol. 37(3), pages 698-710, June.
  3. Crama, Pascale & De Reyck, Bert & Degraeve, Zeger, 2013. "Step by step. The benefits of stage-based R&D licensing contracts," European Journal of Operational Research, Elsevier, vol. 224(3), pages 572-582.
  4. Jinwan Cho & Eunmi Kim & Insik Jeong, 2023. "Adoption of the 4th Industrial Revolution: evidence from Korean exporters in international markets," Asian Business & Management, Palgrave Macmillan, vol. 22(1), pages 164-187, February.
  5. Kaut, Michal & Vaagen, Hajnalka & Wallace, Stein W., 2021. "The combined impact of stochastic and correlated activity durations and design uncertainty on project plans," International Journal of Production Economics, Elsevier, vol. 233(C).
  6. Van den Broeke, Maud M. & Boute, Robert N. & Van Mieghem, Jan A., 2018. "Platform flexibility strategies: R&D investment versus production customization tradeoff," European Journal of Operational Research, Elsevier, vol. 270(2), pages 475-486.
  7. Fertig, Emily, 2018. "Rare breakthroughs vs. incremental development in R&D strategy for an early-stage energy technology," Energy Policy, Elsevier, vol. 123(C), pages 711-721.
  8. Nguyen, Hang T. & Ross, William T. & Pancras, Joseph & Phan, Hieu V., 2020. "Market-based drivers of cobranding success," Journal of Business Research, Elsevier, vol. 115(C), pages 122-138.
  9. Alejandro Mac Cawley & Maximiliano Cubillos & Rodrigo Pascual, 2020. "A real options approach for joint overhaul and replacement strategies with mean reverting prices," Annals of Operations Research, Springer, vol. 286(1), pages 303-324, March.
  10. Sylvain Lenfle, 2011. "The strategy of parallel approaches in projects with unforeseeable uncertainty: the Manhattan case in retrospect," Post-Print hal-00658346, HAL.
  11. Philip Bromiley & Devaki Rau & Yu Zhang, 2017. "Is R&D risky?," Strategic Management Journal, Wiley Blackwell, vol. 38(4), pages 876-891, April.
  12. Chen, C.M., 2008. "Multi-Factor Policy Evaluation and Selection in the One-Sample Situation," ERIM Report Series Research in Management ERS-2008-084-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  13. Baker, Erin & Adu-Bonnah, Kwame, 2008. "Investment in risky R&D programs in the face of climate uncertainty," Energy Economics, Elsevier, vol. 30(2), pages 465-486, March.
  14. Raffaele Oriani & Luigi Sereno, 2011. "Advanced Valuation Methods: The Real Options Approach," Chapters, in: Federico Munari & Raffaele Oriani (ed.), The Economic Valuation of Patents, chapter 6, Edward Elgar Publishing.
  15. Johansson, Per-Olov, 2016. "On lessons from energy and environmental cost–benefit analysis," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 20-25.
  16. William Boulding & Abhijit Guha & Richard Staelin, 2017. "Do We Really Need to Change the Decision Maker? Counterintuitive Escalation of Commitment Results in Real Options Contexts," Management Science, INFORMS, vol. 63(10), pages 3459-3472, October.
  17. Olga Kokshagina & Pascal Le Masson & Benoit Weil, 2015. "Portfolio management in double unknown situations: technological platformsand the role of cross-application managers," Post-Print hal-01199929, HAL.
  18. Chun-Hung Chiu & Shui-Hung Hou & Xun Li & Wei Liu, 2017. "Real options approach for fashionable and perishable products using stock loan with regime switching," Annals of Operations Research, Springer, vol. 257(1), pages 357-377, October.
  19. Leonardo P. Santiago & Pirooz Vakili, 2005. "On the Value of Flexibility in R&D Projects," Management Science, INFORMS, vol. 51(8), pages 1206-1218, August.
  20. Aditya Vedantam & Ananth Iyer, 2021. "Capacity Investment under Bayesian Information Updates at Reporting Periods: Model and Application," Production and Operations Management, Production and Operations Management Society, vol. 30(8), pages 2707-2725, August.
  21. Tao, Liangyan & Wu, Desheng & Liu, Sifeng & Lambert, James H., 2017. "Schedule risk analysis for new-product development: The GERT method extended by a characteristic function," Reliability Engineering and System Safety, Elsevier, vol. 167(C), pages 464-473.
  22. Nur Sunar & John R. Birge & Sinit Vitavasiri, 2019. "Optimal Dynamic Product Development and Launch for a Network of Customers," Operations Research, INFORMS, vol. 67(3), pages 770-790, May.
  23. Philipp N. Baecker, 2007. "Real Options and Intellectual Property," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-48264-2, October.
  24. Wu, D. J. & Kleindorfer, P. R. & Zhang, Jin E., 2002. "Optimal bidding and contracting strategies for capital-intensive goods," European Journal of Operational Research, Elsevier, vol. 137(3), pages 657-676, March.
  25. repec:tkp:ijsrsy:v:2:y:2012:i:2:p:73-91 is not listed on IDEAS
  26. Pierre Azoulay & Erica Fuchs & Anna P. Goldstein & Michael Kearney, 2018. "Funding Breakthrough Research: Promises and Challenges of the "ARPA Model"," NBER Chapters, in: Innovation Policy and the Economy, Volume 19, pages 69-96, National Bureau of Economic Research, Inc.
  27. Spiros H. Martzoukos & Nayia Pospori & Lenos Trigeorgis, 2024. "Corporate investment decisions with switch flexibility, constraints, and path-dependency," Review of Quantitative Finance and Accounting, Springer, vol. 62(3), pages 1223-1250, April.
  28. Michel Benaroch, 2018. "Real Options Models for Proactive Uncertainty-Reducing Mitigations and Applications in Cybersecurity Investment Decision Making," Information Systems Research, INFORMS, vol. 29(2), pages 315-340, June.
  29. Sodhi, ManMohan S. & Tang, Christopher S., 2009. "Modeling supply-chain planning under demand uncertainty using stochastic programming: A survey motivated by asset-liability management," International Journal of Production Economics, Elsevier, vol. 121(2), pages 728-738, October.
  30. Kyungwon Kim & Jae Wook Song, 2018. "Managing Bubbles in the Korean Real Estate Market: A Real Options Framework," Sustainability, MDPI, vol. 10(8), pages 1-25, August.
  31. Jianjun LU & Wen Tian, 2012. "Analysis of the Dynamical Behavior of Firms in a Three Layered Modular Assembly Model," Information Management and Business Review, AMH International, vol. 4(3), pages 128-135.
  32. Alexander Budzier & Bent Flyvbjerg, 2013. "Double Whammy - How ICT Projects are Fooled by Randomness and Screwed by Political Intent," Papers 1304.4590, arXiv.org.
  33. Gorupec Natalia & Tiberius Victor & Brehmer Nataliia & Kraus Sascha, 2022. "Tackling uncertain future scenarios with real options: A review and research framework," The Irish Journal of Management, Sciendo, vol. 41(1), pages 69-88, July.
  34. Goldstein, Anna P. & Kearney, Michael, 2020. "Know when to fold ‘em: An empirical description of risk management in public research funding," Research Policy, Elsevier, vol. 49(1).
  35. Samis, Michael & Steen, John, 2020. "Financial evaluation of mining innovation pilot projects and the value of information," Resources Policy, Elsevier, vol. 69(C).
  36. Marzieh ShahmariChatghieh & Harri Haapasalo & Anyanitha Distanont, 2013. "A Comparison of R&D Supply Chains and Service and Manufacturing Supply Chains," International Journal of Synergy and Research, ToKnowPress, vol. 2(2), pages 73-91.
  37. Hazır, Öncü & Ulusoy, Gündüz, 2020. "A classification and review of approaches and methods for modeling uncertainty in projects," International Journal of Production Economics, Elsevier, vol. 223(C).
  38. Moon, Yongma & Yao, Tao & Jiang, Bin, 2011. "Outsourcing versus joint venture from vendor's perspective," International Journal of Production Economics, Elsevier, vol. 129(1), pages 23-31, January.
  39. Delaney, L., 2020. "A Model of Investment under Uncertainty with Time to Build, Market Incompleteness and Risk Aversion," Working Papers 20/13, Department of Economics, City University London.
  40. Marzieh Shahmari Chatghieh & Harri Haapasalo & Anyanitha Distanont, 2013. "Comparing Manufacturing and Services Sourcing against R&D Sourcing," Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management,, ToKnowPress.
  41. Nejib Ben moussa, 2018. "The contribution of job satisfaction, organizational climate and employee commitment on management innovation in Tunisian SMEs: The effect of the post-revolution environment," Economics Bulletin, AccessEcon, vol. 38(4), pages 2167-2183.
  42. Thomas G. Yeung & Scott J. Mason, 2006. "Using real options analysis to value reoptimization options in the shifting bottleneck heuristic," Naval Research Logistics (NRL), John Wiley & Sons, vol. 53(4), pages 285-297, June.
  43. Delaney, Laura, 2021. "A model of investment under uncertainty with time to build, market incompleteness and risk aversion," European Journal of Operational Research, Elsevier, vol. 293(3), pages 1155-1167.
  44. Moon, Yongma & Baran, Mesut, 2018. "Economic analysis of a residential PV system from the timing perspective: A real option model," Renewable Energy, Elsevier, vol. 125(C), pages 783-795.
  45. Masucci, Monica & Parker, Simon C. & Brusoni, Stefano & Camerani, Roberto, 2021. "How are corporate ventures evaluated and selected?," Technovation, Elsevier, vol. 99(C).
  46. Nektarios Oraiopoulos & Stylianos Kavadias, 2020. "Is Diversity (Un-)Biased? Project Selection Decisions in Executive Committees," Manufacturing & Service Operations Management, INFORMS, vol. 22(5), pages 906-924, September.
  47. Maria Isabella Leone & Raffaele Oriani & Toke Reichstein, 2015. "How much are flexibility and uncertainty worth in patent licensing?," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 42(4), pages 371-394, December.
  48. Ye Wang & Jiafu Tang, 2022. "Optimized skill configuration for the seru production system under an uncertain demand," Annals of Operations Research, Springer, vol. 316(1), pages 445-465, September.
  49. Jeremy Hutchison-Krupat & Stylianos Kavadias, 2015. "Strategic Resource Allocation: Top-Down, Bottom-Up, and the Value of Strategic Buckets," Management Science, INFORMS, vol. 61(2), pages 391-412, February.
  50. S H Martzoukos, 2009. "Real R&D options and optimal activation of two-dimensional random controls," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(6), pages 843-858, June.
  51. Han T. J. Smit & Lenos Trigeorgis, 2017. "Strategic NPV: Real Options and Strategic Games under Different Information Structures," Strategic Management Journal, Wiley Blackwell, vol. 38(13), pages 2555-2578, December.
  52. Sam Ransbotham & Sabyasachi Mitra, 2010. "Target Age and the Acquisition of Innovation in High-Technology Industries," Management Science, INFORMS, vol. 56(11), pages 2076-2093, November.
  53. Creemers, Stefan, 2018. "Moments and distribution of the net present value of a serial project," European Journal of Operational Research, Elsevier, vol. 267(3), pages 835-848.
  54. Sivadasan, Suja & Smart, Janet & Huaccho Huatuco, Luisa & Calinescu, Anisoara, 2013. "Reducing schedule instability by identifying and omitting complexity-adding information flows at the supplier–customer interface," International Journal of Production Economics, Elsevier, vol. 145(1), pages 253-262.
  55. Giovanni Villani & Marta Biancardi, 2022. "Competition and strategic alliance in R&D investments: a real option game approach with multiple experiments," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(1), pages 63-86, January.
  56. Yang Pan & Peng Huang & Anandasivam Gopal, 2019. "Storm Clouds on the Horizon? New Entry Threats and R&D Investments in the U.S. IT Industry," Information Systems Research, INFORMS, vol. 30(2), pages 540-562, June.
  57. Öncü Hazir & Gündüz Ulusoy, 2020. "A classification and review of approaches and methods for modeling uncertainty in projects," Post-Print hal-02898162, HAL.
  58. Bakker, Hannah & Dunke, Fabian & Nickel, Stefan, 2020. "A structuring review on multi-stage optimization under uncertainty: Aligning concepts from theory and practice," Omega, Elsevier, vol. 96(C).
  59. Andrés, Pablo de & Fuente, Gabriel de la & Velasco, Pilar, 2021. "Exercising a firm’s growth options: A portfolio approach," Journal of Business Research, Elsevier, vol. 132(C), pages 571-585.
  60. Ofer Zwikael & Mark Ahn, 2011. "The Effectiveness of Risk Management: An Analysis of Project Risk Planning Across Industries and Countries," Risk Analysis, John Wiley & Sons, vol. 31(1), pages 25-37, January.
  61. Alexander Tkotz & Jan Christoph Munck & Andreas Erich Wald, 2018. "Innovation Management Control: Bibliometric Analysis Of Its Emergence And Evolution As A Research Field," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 22(03), pages 1-34, April.
  62. Elmaghraby, Salah E., 2005. "On the fallacy of averages in project risk management," European Journal of Operational Research, Elsevier, vol. 165(2), pages 307-313, September.
  63. Podoynitsyna, Ksenia & Song, Michael & van der Bij, Hans & Weggeman, Mathieu, 2013. "Improving new technology venture performance under direct and indirect network externality conditions," Journal of Business Venturing, Elsevier, vol. 28(2), pages 195-210.
  64. Siddiqui, Afzal S. & Marnay, Chris & Wiser, Ryan H., 2007. "Real options valuation of US federal renewable energy research, development, demonstration, and deployment," Energy Policy, Elsevier, vol. 35(1), pages 265-279, January.
  65. Deeney, Peter & Cummins, Mark & Heintz, Katharina & Pryce, Mary T., 2021. "A real options based decision support tool for R&D investment: Application to CO2 recycling technology," European Journal of Operational Research, Elsevier, vol. 289(2), pages 696-711.
  66. Michi Nishihara, 2017. "Valuation of an R&D project with three types of uncertainty," Discussion Papers in Economics and Business 17-15, Osaka University, Graduate School of Economics.
  67. Puay Khoon Toh & Taekyu Kim, 2013. "Why Put All Your Eggs in One Basket? A Competition-Based View of How Technological Uncertainty Affects a Firm’s Technological Specialization," Organization Science, INFORMS, vol. 24(4), pages 1214-1236, August.
  68. Wang, Juite & Yang, Chung-Yu, 2012. "Flexibility planning for managing R&D projects under risk," International Journal of Production Economics, Elsevier, vol. 135(2), pages 823-831.
  69. Fisch, Christian & Meoli, Michele & Vismara, Silvio & Block, Jörn H., 2022. "The effect of trademark breadth on IPO valuation and post-IPO performance: an empirical investigation of 1510 European IPOs," Journal of Business Venturing, Elsevier, vol. 37(5).
  70. Timo Willershausen & Sascha H. Mölls & Karl-Heinz Schild, 2007. "Unsicherheit und der Wert realer Optionen," Schmalenbach Journal of Business Research, Springer, vol. 59(3), pages 314-332, May.
  71. Haijian Si & Stylianos Kavadias & Christoph Loch, 2022. "Managing innovation portfolios: From project selection to portfolio design," Production and Operations Management, Production and Operations Management Society, vol. 31(12), pages 4572-4588, December.
  72. Dawid, Herbert & Kopel, Michael & Kort, Peter M., 2010. "Innovation threats and strategic responses in oligopoly markets," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 203-222, August.
  73. Puay Khoon Toh & Shiva Agarwal, 2023. "The option value in complements within platform‐based ecosystems," Strategic Management Journal, Wiley Blackwell, vol. 44(2), pages 576-609, February.
  74. Schoenherr, Tobias & Wagner, Stephan M., 2016. "Supplier involvement in the fuzzy front end of new product development: An investigation of homophily, benevolence and market turbulence," International Journal of Production Economics, Elsevier, vol. 180(C), pages 101-113.
  75. Yu, Xinning & Lan, Yanfei & Zhao, Ruiqing, 2018. "Cooperation royalty contract design in research and development alliances: Help vs. knowledge-sharing," European Journal of Operational Research, Elsevier, vol. 268(2), pages 740-754.
  76. Xiaoyang Long & Javad Nasiry & Yaozhong Wu, 2020. "A Behavioral Study on Abandonment Decisions in Multistage Projects," Management Science, INFORMS, vol. 66(5), pages 1999-2016, May.
  77. Jahani, Hamed & Abbasi, Babak & Alavifard, Farzad & Talluri, Srinivas, 2018. "Supply chain network redesign with demand and price uncertainty," International Journal of Production Economics, Elsevier, vol. 205(C), pages 287-312.
  78. Koussis, Nicos & Martzoukos, Spiros H. & Trigeorgis, Lenos, 2013. "Multi-stage product development with exploration, value-enhancing, preemptive and innovation options," Journal of Banking & Finance, Elsevier, vol. 37(1), pages 174-190.
  79. Michi Nishihara, 2018. "Valuation of an R&D project with three types of uncertainty," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 6(1), pages 93-113, June.
  80. Laura J. Kornish & Jeremy Hutchison‐Krupat, 2017. "Research on Idea Generation and Selection: Implications for Management of Technology," Production and Operations Management, Production and Operations Management Society, vol. 26(4), pages 633-651, April.
  81. A. Rashad Abdel-Khalik, 2014. "CEO Risk Preference and Investing in R&D," Abacus, Accounting Foundation, University of Sydney, vol. 50(3), pages 245-278, September.
  82. Vilkkumaa, Eeva & Liesiö, Juuso & Salo, Ahti & Ilmola-Sheppard, Leena, 2018. "Scenario-based portfolio model for building robust and proactive strategies," European Journal of Operational Research, Elsevier, vol. 266(1), pages 205-220.
  83. Fernandes, Glaucia & Perobelli, Fernanda Finotti Cordeiro & Brandão, Luiz Eduardo T., 2016. "A model for valuing new technologies under a pull incentives environment," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 482-493.
  84. Jiaquan Li & Yunbing Hou & Pengtao Wang & Bo Yang, 2018. "A Review of Carbon Capture and Storage Project Investment and Operational Decision-Making Based on Bibliometrics," Energies, MDPI, vol. 12(1), pages 1-22, December.
  85. Hermans, Ben & Leus, Roel & Looy, Bart Van, 2023. "Deciding on scheduling, secrecy, and patenting during the new product development process: The relevance of project planning models," Omega, Elsevier, vol. 116(C).
  86. Naga Lakshmi Damaraju & Jay B. Barney & Anil K. Makhija, 2015. "Real options in divestment alternatives," Strategic Management Journal, Wiley Blackwell, vol. 36(5), pages 728-744, May.
  87. Li, Yihua & Tseng, Chung-Li & Hu, Guiping, 2015. "Is now a good time for Iowa to invest in cellulosic biofuels? A real options approach considering construction lead times," International Journal of Production Economics, Elsevier, vol. 167(C), pages 97-107.
  88. Martzoukos, Spiros H. & Zacharias, Eleftherios, 2013. "Real option games with R&D and learning spillovers," Omega, Elsevier, vol. 41(2), pages 236-249.
  89. Yenipazarli, Arda, 2019. "Incentives for environmental research and development: Consumer preferences, competitive pressure and emissions taxation," European Journal of Operational Research, Elsevier, vol. 276(2), pages 757-769.
  90. Nicoleta Daniela IGNAT, 2019. "Risk Assessment Of Projects Co-Financed By The European Social Fund," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 833-844, November.
  91. Kim, Bongsun & Kim, Eonsoo & Miller, Douglas J. & Mahoney, Joseph T., 2016. "The impact of the timing of patents on innovation performance," Research Policy, Elsevier, vol. 45(4), pages 914-928.
  92. Janne Kettunen, Derek W. Bunn and William Blyth & Derek W. Bunn & William Blyth, 2011. "Investment Propensities under Carbon Policy Uncertainty," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 77-118.
  93. Juan Pineiro-Chousa & Marcos Vizcaíno-González, 2020. "A mathematical model for the role of third party funding in reputation building of academic institutions," Review of Managerial Science, Springer, vol. 14(2), pages 365-377, April.
  94. Pineiro-Chousa, Juan & Vizcaíno-González, Marcos, 2016. "A quantum derivation of a reputational risk premium," International Review of Financial Analysis, Elsevier, vol. 47(C), pages 304-309.
  95. Kettunen, Janne & Grushka-Cockayne, Yael & Degraeve, Zeger & De Reyck, Bert, 2015. "New product development flexibility in a competitive environment," European Journal of Operational Research, Elsevier, vol. 244(3), pages 892-904.
  96. Berg, Tobias & Mölls, Sascha H. & Willershausen, Timo, 2009. "(Real-)options, uncertainty and comparative statics: Are Black and Scholes mistaken?," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 645, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
  97. Yongma Moon, 2014. "Optimal Time to Invest Energy Storage System under Uncertainty Conditions," Energies, MDPI, vol. 7(4), pages 1-19, April.
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