Original paper
Real options and institutions
Volume: 48, Issue: 5, Pages: 620 - 644
Published: Jan 3, 2017
Abstract
This article shows how growth options are affected by two types of external uncertainty: Transactional uncertainty that stems from institutional voids and increases transaction costs, and economic uncertainty that arises from the business environment. We theorize that these two types of uncertainty have opposing effects: A firm’s growth option value (proportional to firm value) is negatively associated with transactional uncertainty, but...
Paper Details
Title
Real options and institutions
Published Date
Jan 3, 2017
Volume
48
Issue
5
Pages
620 - 644
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Notes
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