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Tackling uncertain future scenarios with real options: A review and research framework

Natalia Gorupec
Natalia Gorupec
, 
Nataliia Brehmer
Nataliia Brehmer
, 
Victor Tiberius
Victor Tiberius
 oraz 
Sascha Kraus
Sascha Kraus
   | 27 maj 2022
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Article Category: Research Article
Data publikacji: 27 maj 2022
Zakres stron: 69 - 88
DOI: https://doi.org/10.2478/ijm-2022-0003
Słowa kluczowe
© 2022 Natalia Gorupec et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Fig. 1

Annual number of primary papers.
Annual number of primary papers.

Fig. 3

Network I (bibliographic coupling, 2000–2009).
Network I (bibliographic coupling, 2000–2009).

Fig. 4

Network II (bibliographic coupling, 2010–2019).
Network II (bibliographic coupling, 2010–2019).

Fig. 5

RO Research Framework. Source: Own Elaboration.
RO Research Framework. Source: Own Elaboration.

Proposed future research themes.

What are the independencies between internal and external uncertainties as antecedents of the application of RO theory?How can RO theory be applied to sustainability issues (such as renewable energy)?What are the differences between various RO application areas?How can RO valuation models be simplified for an easier application in managerial practice?What are the opportunities to combine RO with other theories (such as game theory)?

Most cited journals.

R Journal Name TC TP HI
1 Academy of Management Review 1,416 5 5
2 Strategic Management Journal 979 13 10
3 Energy Policy 654 22 14
4 European Journal of Operational Research 651 28 14
5 Energy Economics 637 24 13
6 Journal of Finance 592 7 6
7 Management Science 525 9 8
8 Harvard Business Review 429 3 3
9 Organization Science 422 4 4
10 Review of Financial Studies 333 6 5
11 Journal of International Business Studies 327 6 6
12 Quarterly Journal of Economics 270 1 1
13 Journal of Financial Economics 267 4 4
14 Decision Sciences 265 5 5
15 Journal of Management Information Systems 248 5 5
16 Journal of Financial and Quantitative Analysis 241 3 3
17 Information Systems Research 235 5 4
18 IEEE Transactions on Engineering Management 229 8 6
19 Journal of Environmental Economics and Management 228 3 3
20 Financial Management 216 5 4
21 Operations Research 206 5 4
22 Economic Journal 199 1 1
23 International Journal of Production Economics 198 10 8
24 Journal of Management Studies 197 3 3
25 Review of Economic Studies 193 2 2

Most cited authors.

R Author TC TP HI
1 McGrath R 1,257 3 3
2 Folta T 443 4 3
3 Grenadier S 424 4 4
4 Benaroch M 408 4 4
5 Miller K 365 3 3
6 Smith J 356 3 3
7 Luehrman T 325 2 2
8 Adner R 315 2 2
9 Kauffman R 282 2 2
10 Trigeorgis L 280 7 6
11 Kulatilaka N 277 2 2
12 Levinthal D 275 1 1
13 Paddock J 270 1 1
14 Siegel D 270 1 1
15 Loch C 260 1 1
16 Huchzermeier A 260 1 1
17 Nerkar A 256 1 1
18 Tong T 250 3 3
19 Kogut B 243 1 1
20 Tufano P 233 2 2
21 Vassolo R 223 1 1
22 Anand J 223 1 1
23 Reuer J 215 2 2
24 Van Reenen J 199 1 1
25 Bloom N 199 1 1

Most cited articles. Source: Own elaboration.

R Title, Author, Year TC TC/y
1 Falling forward: Real options reasoning and entrepreneurial failure, McGrath, 1999 583 27.8
2 A real options logic for initiating technology positioning investments, McGrath, 1997 418 18.2
3 Renewable energy investments under different support schemes: A real options approach, Boomsma, Meade, & Fleten, 2012 139 17.4
4 What is not a real option: Considering boundaries for the application of real options to business strategy, Adner & Levinthal, 2004 275 17.2
5 Real options reasoning and a new look at the R&D investment strategies of pharmaceutical firms, McGrath & Nerkar, 2004 256 16.0
6 Non-additivity in portfolios of exploration activities: A real options-based analysis of equity alliances in biotechnology, Vassolo, Anand, & Folta, 2004 223 13.9
7 Project management under risk: Using the real options approach to evaluate flexibility in R&D, Huchzermeier & Loch, 2001 260 13.7
8 Capabilities as real options, Kogut & Kulatilaka, 2001 243 12.8
9 A real options model for renewable energy investment with application to solar photovoltaic power generation in China, Zhang, Zhou, & Zhou, 2016 49 12.3
10 A real options evaluation model for the diffusion prospects of new renewable power generation technologies, Kumbaroğlu, Madlener, & Demirel, 2008 134 11.2
11 Patents, real options and firm performance, Bloom & van Reenen, 2002 199 11.1
12 The strategic exercise of options: Development cascades and overbuilding in real estate markets, Grenadier, 1996 253 10.5
13 Optimal design of feed-in-tariffs to stimulate renewable energy investments under regulatory uncertainty - A real options analysis, Ritzenhofen & Spinler, 2016 41 10.3
14 Strategic delay in a real options model of R&D competition, Weeds, 2002 182 10.1
15 Optimal feed-in tariff for solar photovoltaic power generation in China: A real options analysis, Zhang, Zhou, Zhou, & Liu, 2016 40 10.0
16 A case for using real options pricing analysis to evaluate information technology project investments, Benaroch & Kauffman, 1999 204 9.7
17 Managing information technology investment risk: A real options perspective, Benaroch, 2002 163 9.1
18 Real options in equity partnerships, Folta & Miller, 2002 163 9.1
19 Real options and foreign affiliate divestments: A portfolio perspective, Belderbos & Zou, 2009 99 9.0
20 Real options, international entry mode choice and performance, Brouthers, Brouthers, & Werner, 2008 107 8.9
eISSN:
2451-2834
ISSN:
1649-248X
Język:
Angielski
Częstotliwość wydawania:
3 razy w roku
Dziedziny czasopisma:
Business and Economics, Business Management, Marketing, Sales, Customer Relations, Management, Organization, Corporate Governance, Entrepreneurship, Human Resources, Labor Practice, Job and Career
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