Strategy, Value and Risk：The Real Options Approach

Strategy, Value and Risk: The Real Options Approach. †

2nd edition

(Finance and Capital Markets Series)

Jamie Rogers

策略、風險與價值：實質選擇權探討

The surge of innovation in information technology at the end of the twentieth century reduced the cost of communications, which facilitated the globalization of the production and capital markets. Globalization has in turn spurred competition and consequently innovation. Sustainable competitive advantage is an increasingly difficult proposition in this environment, a fact which raises a number of issues for organizations: how to create and manage value, how to improve an organization's capabilities to respond and adapt, how to manage the effect of competition on industry structures and how to foster and manage innovation.
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In response to these issues one concept is having an impact and influence on organizations. Real options, a form of advanced financial analysis, apply financial options theory to real assets. The concept offers a framework that can link value to risk and uncertainty, and the ability to manage the strategic opportunities that lie in an increasingly dynamic environment. Updated and revised, this second edition illustrates the issues with detailed case studies.

List of Figures and Tables、Preface、Acknowledgements、Introduction
PART I THE EVOLUTION OF STRATEGY, VALUE AND MEASURING RISK
Strategy: From Corporate Planning to Shareholder Value
Valuation、Investment Risk、Five Shareholder Value Case Studies
PART II DEVELOPMENTS IN STRATEGY, VALUE AND RISK MANAGEMENT
Developments in Strategy、Real Options、Firm Value、Risk Management
PART III QUANTIFYING REAL OPTIONS 59、Derivatives、Data Analysis、Option Pricing -Methods
Implementing Real Options、PART IV REAL OPTIONS CASE STUDIES AND PRACTICAL IMPLICATIONS
Seven Strategic Real Options Case Studies、Conclusion and Practical -Implications、References、Index