What makes and what does <Emphasis Type="Italic">not</Emphasis> make a real option? A study of equity shares in international joint ventures
Journal of International Business Studies, pp. 47-69, 2009.
This paper examines the boundaries of real options logic, with an application to joint ventures (JVs). We distinguish between forms of uncertainty that are resolved endogenously and those that are resolved exogenously, and theorize that only exogenous uncertainty will have the impact predicted by real options theory on a foreign investor'...More
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