This paper categorizes and critiques the empirical research strategies that have been employed to test real options theory. Existing research has sought to detect valuable options in firms’ strategic investments as well as to investigate the payoffs from these investments. Our review...

The benefits that firms obtain from investing in international joint ventures (IJVs) can be reinforced or reduced by the management of later stages of collaboration. This paper presents and analysis of the shareholder wealth effects of IJV formation and five types of IJV termination. The...

Recent research has documented new ventures’ activity in acquisitions, and we build upon this work and the mergers and acquisition (M&A) literature in order to compare the acquisition performance of new ventures and established firms. The central rationale for our work is that new ventures...