| dc.contributor.author | Philippe, Henri | |
| dc.date.accessioned | 2009-11-24T14:23:03Z | |
| dc.date.available | 2009-11-24T14:23:03Z | |
| dc.date.issued | 2005 | |
| dc.identifier.uri | https://basepub.dauphine.fr/handle/123456789/2529 | |
| dc.language.iso | en | en |
| dc.subject | Theory of the firm | en |
| dc.subject | Real option | en |
| dc.subject | R&D | en |
| dc.subject | Corporate valuation | en |
| dc.subject | Corporate governance | en |
| dc.subject | Case studies | en |
| dc.subject.ddc | 332 | en |
| dc.subject.classificationjel | O32 | en |
| dc.subject.classificationjel | L22 | en |
| dc.subject.classificationjel | G34 | en |
| dc.subject.classificationjel | D81 | en |
| dc.subject.classificationjel | D23 | en |
| dc.title | Corporate Governance: A New Limit to Real Options Valuation? | en |
| dc.type | Article accepté pour publication ou publié | |
| dc.description.abstracten | Including real options in firms ’ value raises numerous difficulties. Limitations concerning the relevance of option pricing models outside financial markets are the most salient, but carrying out a valuation implies other assumptions, especially on firms’ governance. In particular, assessing whether a real option should be included within a firm’s boundaries and how its value should be shared, is difficult. Most of these issues result from the different property rights on real options: who creates and who can exercise the option? We discuss existing answers to these difficulties and propose a matrix based on property rights to help practitioners decide whether a real option can be valued appropriately or not by real options models. We support our discussion with a case study based on an R&D firm valuation. | en |
| dc.relation.isversionofjnlname | Journal of Management and Governance | |
| dc.relation.isversionofjnlvol | 9 | en |
| dc.relation.isversionofjnlissue | 2 | en |
| dc.relation.isversionofjnldate | 2005-06 | |
| dc.relation.isversionofjnlpages | 129-149 | en |
| dc.relation.isversionofdoi | http://dx.doi.org/10.1007/s10997-005-4028-7 | en |
| dc.description.sponsorshipprivate | oui | en |
| dc.relation.isversionofjnlpublisher | Springer | en |
| dc.subject.ddclabel | Economie financière | en |
