Option chain and change management: A structural equation application
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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Volume (Year): 27 (2009)
Issue (Month): 3 (June)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Luigi Zingales, 2000.
"In Search of New Foundations,"
CRSP working papers
515, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- 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.
- Bruce Kogut, 1991. "Joint Ventures and the Option to Expand and Acquire," Management Science, INFORMS, vol. 37(1), pages 19-33, January.
- 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.
- Andrew H. Van de Ven, 1986. "Central Problems in the Management of Innovation," Management Science, INFORMS, vol. 32(5), pages 590-607, May.
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