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Bankruptcy prediction and structural credit risk models
(Cambridge University Press, 2008)
Introduction Default is triggered by a firm’s failure to meet its financial obligations. Default probabilities and changes in expected default frequencies affect markets participants, such as investors and lenders, since ...
Uncertainty, Flexibility, and Real Options
(2011)
This chapter discusses the strategy formulation challenges encountered by firms when the underlying market is uncertain. Motivated by the uncertainty faced by European electric utilities, it discusses how real options ...
Market Structure Games: Static Approaches
(2011)
This chapter discusses static market structure games. It begins by describing the benchmark case of a monopolist, developing the basic building blocks for subsequent models. It then introduces static models of duopoly, ...
Real options: A primer
(2000)
This paper serves to introduce the basic ideas and valuation principles for corporate real options, and basic concepts related to growth options, competition and strategy. It first uses an example to motivate the discussion ...
The Strategy Challenge
(2011)
This chapter first discusses the changing corporate environment, highlighting the need for firms to be careful when formulating their corporate strategies in an uncertain, competitive environment. It then explains how an ...
Market Structure Games: Dynamic Approaches
(2011)
This chapter extends the discussion began in Chapter 3 about dynamic models of oligopoly. It discusses two streams of models dealing with multiplayer decision-making in multistage settings. The chapter is organized as ...
An Integrative Approach to Strategy: Option Games
(The MIT Press., 2011)
This chapter first discusses how option games can provide useful insights to management faced with conflicting strategic choices. It highlights two issues: optimal investment timing and the trade-off between flexibility ...