Strategic Investment Decisions
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Author |
: Han T. J. Smit |
Publisher |
: Princeton University Press |
Total Pages |
: 504 |
Release |
: 2012-01-12 |
ISBN-10 |
: 9781400829392 |
ISBN-13 |
: 1400829399 |
Rating |
: 4/5 (92 Downloads) |
Synopsis Strategic Investment by : Han T. J. Smit
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.
Author |
: Paul R. Marsh |
Publisher |
: |
Total Pages |
: 65 |
Release |
: 1988 |
ISBN-10 |
: 0902583131 |
ISBN-13 |
: 9780902583139 |
Rating |
: 4/5 (31 Downloads) |
Synopsis Managing Strategic Investment Decisions in Large Diversified Companies by : Paul R. Marsh
Author |
: Richard Butler |
Publisher |
: Taylor & Francis |
Total Pages |
: 231 |
Release |
: 1993-01-01 |
ISBN-10 |
: 0415075084 |
ISBN-13 |
: 9780415075084 |
Rating |
: 4/5 (84 Downloads) |
Synopsis Strategic Investment Decisions by : Richard Butler
Author |
: Elaine Harris |
Publisher |
: Butterworth-Heinemann |
Total Pages |
: 127 |
Release |
: 2009-08-13 |
ISBN-10 |
: 9781856178976 |
ISBN-13 |
: 1856178978 |
Rating |
: 4/5 (76 Downloads) |
Synopsis Managerial Judgement and Strategic Investment Decisions by : Elaine Harris
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
Author |
: Martha Amram |
Publisher |
: Oxford University Press on Demand |
Total Pages |
: 246 |
Release |
: 1999 |
ISBN-10 |
: 0875848451 |
ISBN-13 |
: 9780875848457 |
Rating |
: 4/5 (51 Downloads) |
Synopsis Real Options by : Martha Amram
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.
Author |
: Shan Ling Li |
Publisher |
: Routledge |
Total Pages |
: 168 |
Release |
: 2018-07-27 |
ISBN-10 |
: 9780429835100 |
ISBN-13 |
: 0429835108 |
Rating |
: 4/5 (00 Downloads) |
Synopsis Strategic Investment Planning with Technology Choice in Manufacturing Systems by : Shan Ling Li
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.
Author |
: Hele Hammer |
Publisher |
: LAP Lambert Academic Publishing |
Total Pages |
: 192 |
Release |
: 2009 |
ISBN-10 |
: 3838308166 |
ISBN-13 |
: 9783838308166 |
Rating |
: 4/5 (66 Downloads) |
Synopsis Strategic Investment Decisions by : Hele Hammer
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.
Author |
: Christian Berner |
Publisher |
: diplom.de |
Total Pages |
: 218 |
Release |
: 2000-03-01 |
ISBN-10 |
: 9783832421908 |
ISBN-13 |
: 3832421904 |
Rating |
: 4/5 (08 Downloads) |
Synopsis Real Options and Corporate Strategy by : Christian Berner
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 [...]
Author |
: Konstantinos Bozos |
Publisher |
: |
Total Pages |
: 0 |
Release |
: 2009 |
ISBN-10 |
: OCLC:593131444 |
ISBN-13 |
: |
Rating |
: 4/5 (44 Downloads) |
Synopsis The Components and Determinants of Success in Strategic Investment Decisions by : Konstantinos Bozos
Author |
: Johnathan Mun |
Publisher |
: John Wiley & Sons |
Total Pages |
: 603 |
Release |
: 2012-07-02 |
ISBN-10 |
: 9781118429075 |
ISBN-13 |
: 1118429079 |
Rating |
: 4/5 (75 Downloads) |
Synopsis Real Options Analysis by : Johnathan Mun
"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.