Download or read book Strategic Investment written by Han T. J. Smit and published by Princeton University Press. This book was released on 2012-01-12 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Managing Strategic Investment Decisions in Large Diversified Companies written by Paul R. Marsh and published by . This book was released on 1988 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Investment Decisions written by Richard Butler and published by Taylor & Francis. This book was released on 1993-01-01 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Real Options written by Martha Amram and published by Oxford University Press on Demand. This book was released on 1999 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using real-world examples and clear case studies, the authors provide investors and managers with an innovative method for assessing a company's non-financial assets, allowing them to assess opportunities whose financial rewards are less than certain.
Download or read book Strategic Investment Decisions written by Hele Hammer and published by LAP Lambert Academic Publishing. This book was released on 2009 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value of any firm could be viewed as the sum of the value of its investment projects. Thus, making correct strategic investment decisions is of critical importance to maximizing the value of the firm. In finance literature, decision-making has usually been studied using the scientific rather than the organizational model. In contrast, the current work combines both corporate finance theory and the organizational decision-making theory. Related to that is the choice of methodoloy for empirical research--quite uncommonly, both positivist and interpretive methods are used to study the investment decisionmaking in practice. In addition to a written survey, six in-depth case studies were carried out. Furthermore, as most research on this topic has focused on big companies in Anglo-Saxon countries, studying smaller companies in a smaller country (Estonia) adds some interesting perspectives to the issue. The study could be of interest to all professionals in Corporate Finance and General Management field.
Download or read book Real Options and Corporate Strategy written by Christian Berner and published by diplom.de. This book was released on 2000-03-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: Every investment, for example new facilities, new products, or strategic partnerships is driven by the pursuit of creating values . Major changes are going on in the valuation of investments. Although the classic shareholder value concept is still a valuable source for identification of value drivers of strategic management, it needs to be extended in terms of its ability to evaluate long-term investment choices. Far too long capital budgeting has only been considered under aspects of its contribution to an overall added economic value rather than focusing on a firm s resources. Recent research emphasized the strategic value of resources leading to formulate the approach of a resource-based view of a firm s activities. Usually management tries to capture future development with static methods of capital budgeting, i.e. future cash-flows are discounted with a fixed risk-adjusted discount rate. However, the finding of present values and capitalized values could produce pitfalls in investment decisions. Strategic investment decisions are often characterized by a wide range of possibilities to react flexibly to the changing business environment. This area of tolerance in investment decisions could not be captured with traditional instruments of investment evaluation. In the 1970s, the discounted-cash-flow analysis (DCF) emerged and proved its practicability. This method assumes a now or never approach in undertaking a project. Some authors suggest adding the theory of option prices to investment decisions, as in the 1970s and the 1980s developments in the valuation of capital-investment opportunities based on option pricing revolutionized capital budgeting. Option pricing allows adaptation and revision of future decisions in order to capture managerial flexibility and to finally capitalize on any possible future development. To incorporate these real options means to limit losses and offers a vital contribution to long-term corporate success, especially in those marketplaces characterized by uncertainty and rapid change. This method also explains the value of waiting for the initial project and considers its value in comparison to the opportunity costs of waiting. These costs are dictated by the behavior of competitors and loss of cash-flow streams from the project. Incorporating this method could possibly lead to a better understanding of the importance of resource allocation, the value of strategic investments and [...]
Download or read book Managing Strategic Investment Decisions written by Tzu-Chuan Chou and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Components and Determinants of Success in Strategic Investment Decisions written by Konstantinos Bozos and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Investment Decisions written by Hele Hammer and published by . This book was released on 2003 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Components and Determinants of Success in Strategic Investment Decisions written by Konstantinos Bozos and published by . This book was released on 2009 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Investment Planning with Technology Choice in Manufacturing Systems written by Shan Ling Li and published by Routledge. This book was released on 2018-07-27 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1994 this book examines problems related to investment planning, capacity additions, and choice of technology in dynamic manufacturing systems characterized by multiple products, dynamic demand growth, uncertainty in demand and availability of alternative technologies. A model-based methodology is developed that focuses on trade-offs between flexible and conventional technology. The research conducted for this book is directed to the development of tools to support investment decisions in production capacity over medium and long-term planning horizons.
Download or read book Using Management Control Systems to Achieve Alignment Between Strategic Investment Decisions and Strategy written by Regine Slagmulder and published by . This book was released on 1996 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managerial Judgement and Strategic Investment Decisions written by Elaine Harris and published by Butterworth-Heinemann. This book was released on 2009-08-13 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the findings from a cross-sectional survey funded by CIMA. The project aimed to survey senior management accountants working across a range of organisations and industries with a unique focus on the behavioural side of decision making, the use of managerial judgement. Previous capital budgeting surveys have tended to focus on the quantitative evaluation tools and techniques used for project appraisal. This study was broader in that it asked about every stage of the strategic investment decision (SID) process, from initiation to post implementation review, and how different managers were involved at different stages of the process. The focus is on how decision judgements are reached. Explains Strategic Investment Decisions (SIDs) clearly to management accountants who are expected to be involved in decision making processes Covers all stages of the SID process, the types of SID and how multiple managers participate in the process Will help organisations benchmark their own SID practice
Download or read book Risk Analysis in Strategic Investment Decisions written by M. Kannadhasan and published by LAP Lambert Academic Publishing. This book was released on 2012-08 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: With increasing pace of changes in technological and business environment, exchange rate fluctuations, and difficulty in predicting competitors behaviour have made the Strategic Investment Decisions (SIDs) making process more acute, thereby often challenging the task of Decision Makers. This book focuses on how individual as well as organizational characteristics influence on risk analysis (RA) in SIDs. In this book, a model is developed to investigate the relationships of individual and organizational characteristics on the extent of usage of RA in SIDs. The model encompasses five organizational characteristics namely Business Strategy, Information System, Rewards and Control Structure, Environmental Uncertainty, and Performance of a Company, and three individual characteristics namely tenure, experience and risk propensity. This book would provide the current practices of RA within the automotive industry in India. The relationship between the extent of usage of RA in SIDs and specific firm characteristics such as firm size, sales volatility, performance volatility, beta, and leverage are also discussed.
Download or read book Strategic investment decision making written by Richard Butler and published by . This book was released on 1991 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Investment Decisions in Regulated Markets written by Christian Wernick and published by Springer-Verlag. This book was released on 2007-12-12 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concentrating on Germany and the UK, Christian Wernick provides the reader with insights on the effects of different regulatory strategies, which take place under a common European regulatory framework. Combining theoretical analyses and empirical material a sophisticated and balanced picture on the coherences between regulation and investment behaviour in Germany’s and the UK’s broadband markets is presented.
Download or read book Real Options Analysis written by Johnathan Mun and published by John Wiley & Sons. This book was released on 2012-07-02 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Mun demystifies real options analysis and delivers a powerful, pragmatic guide for decision-makers and practitioners alike. Finally, there is a book that equips professionals to easily recognize, value, and seize real options in the world around them." --Jim Schreckengast, Senior VP, R&D Strategy, Gemplus International SA, France Completely revised and updated to meet the challenges of today's dynamic business environment, Real Options Analysis, Second Edition offers you a fresh look at evaluating capital investment strategies by taking the strategic decision-making process into consideration. This comprehensive guide provides both a qualitative and quantitative description of real options; the methods used in solving real options; why and when they are used; and the applicability of these methods in decision making.
