Journal Article10.5465/AMR.1997.9711022113
A Real Options Logic for Initiating Technology Positioning Investments
TL;DR: In this paper, the authors extend real options theory to technology positioning projects and specify how the relationship between boundary conditions and uncertainty influences the value of a technology option, as well as the appropriate timing of its exercise, concluding that option value can be amplified by investments to shift boundaries, ideally in ways that are idiosyncratic to the firm.
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Abstract: In this article I extend real options theory to technology positioning projects and specify how the relationship between boundary conditions and uncertainty influences the value of a technology option, as well as the appropriate timing of its exercise. I also take a strategic perspective on uncertainty itself, concluding that option value can be amplified by investments to shift boundaries, ideally in ways that are idiosyncratic to the firm.
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Firm Resources and Sustained Competitive Advantage
TL;DR: In this article, a firm is considered to have a sustained competitive advantage when it is implementing a value creating strategy that no competitor is implementing and when these competitors are unable to duplicate the benefits of this strategy.
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The Pricing of Options and Corporate Liabilities
Fischer Black,Myron S. Scholes +1 more
TL;DR: In this paper, a theoretical valuation formula for options is derived, based on the assumption that options are correctly priced in the market and it should not be possible to make sure profits by creating portfolios of long and short positions in options and their underlying stocks.
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A Resource-Based View of the Firm
TL;DR: In this paper, the authors explore the usefulness of analyzing firms from the resource side rather than from the product side, in analogy to entry barriers and growth-share matrices, the concepts of resource position barrier and resource-product matrices are suggested.