A01=Han T. J. Smit
A01=Lenos Trigeorgis
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Author_Han T. J. Smit
Author_Lenos Trigeorgis
Bribery
Calculation
Call option
Capital budgeting
Cash flow
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Commercialization
Competition
Competitive advantage
Competitive equilibrium
Competitive landscape
Compound option
Corporate finance
Cost of capital
Cournot competition
Customer
Disadvantage
Discounts and allowances
Economic equilibrium
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Expansion Option
Expenditure
Expense
Finance
First-mover advantage
Incentive
Industrial organization
Information asymmetry
Infrastructure
Intel
Interest rate
Investment
Investment strategy
Investor
Market power
Market price
Market structure
Market value
Nash equilibrium
Net present value
Operating cash flow
Operating cost
Opportunity cost
Option (finance)
Option value (cost-benefit analysis)
Porter's five forces analysis
Positioning (marketing)
Present value
Price war
Pricing
Profit (economics)
Profit margin
Quantity
Real options valuation
Reputation
Research and development
Risk premium
Risk-neutral measure
Share price
Strategic alliance
Strategic complements
Strategic management
Strategic planning
Strategy
Strike price
Technology
Trade-off
Uncertainty
Valuation (finance)
Value (economics)
Product details
- ISBN 9780691010397
- Weight: 851g
- Dimensions: 152 x 235mm
- Publication Date: 26 Jul 2004
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Hardback
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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.
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.
