Real Options: Taking Stock and Looking Ahead

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Advances in Strategic Management

ISSN: 0742-3322
Series editor(s): Professor Brian Silverman

Subject Area: Strategy

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Document Information:
Title:	Real Options: Taking Stock and Looking Ahead
Author(s):	Yong Li, Barclay E. James, Ravi Madhavan, Joseph T. Mahoney
Volume:	24 Editor(s): Jeffrey J. Reuer, Tony W. Tong ISBN: 978-0-7623-1427-0 eISBN: 978-1-84950-494-2
Citation:	Yong Li, Barclay E. James, Ravi Madhavan, Joseph T. Mahoney (2007), Real Options: Taking Stock and Looking Ahead, in Jeffrey J. Reuer, Tony W. Tong (ed.) Real Options Theory (Advances in Strategic Management, Volume 24), Emerald Group Publishing Limited, pp.31-66
DOI:	10.1016/S0742-3322(07)24002-1 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Article type:	Chapter Item
Abstract:	We discuss recent developments in real options theory and its applications to strategic management research, examine the potential difficulties in implementing real options in theory and practice, and propose several areas for future research. Our review shows that real options theory has provided substantial insights into investment and exit decisions as well as into the choice of investment modes. In addition, extant research studies have contributed significantly to our understanding of whether and how organizations can benefit from real options. Future research that addresses difficulties in applications will further advance both real options theory and practice in strategic management. We call for future generations of research to enhance the impact of real options as an emerging dominant conceptual lens in strategic management.