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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- 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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- 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.
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