haku: @indexterm technological innovation / yhteensä: 1312
viite: 256 / 1312
| Tekijä: | Grenadier, S. T. Weiss, A. M. |
| Otsikko: | Investment in technological innovations: An option pricing approach |
| Lehti: | Journal of Financial Economics
1997 : JUN, VOL. 44:3, p. 397-416 |
| Asiasana: | CAPITAL BUDGETING OPTIONS TECHNOLOGICAL INNOVATION INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | This study forms an analogy between the adoption of innovations and the exercise strategy of a stream of embedded options , which allows to use the tools of option pricing theory to derive and analyze a firm's optimal migration strategy under technological uncertainty. The results of the model are used to predict the adoption behavior of firms in a variety of technological environments. The impact of various characteristics of technological markets on a firm's decision to follow one of four distinct migration strategies are examined. |
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