In this study, we investigate how foreign direct investment (FDI) and multinationality affect firms' risk levels. Our investigation builds on the idea from real options theory that international operations offer multinational corporations (MNCs) switching options, yet we also emphasize different...

Real options theory predicts that international joint ventures (IJVs) confer valuable growth options to firms, yet there has been no direct evidence on whether firms actually capture growth option value from such investments and under what conditions. We bridge the gap between theory and...

Real options theory predicts that international joint ventures (IJVs) confer valuable growth options to firms, yet there has been no direct evidence on whether firms actually capture growth option value from such investments and under what conditions. We bridge the gap between theory and...

Real options theory has attracted significant interest in the field of strategic management. Advocates of the approach emphasize that importing concepts from financial economics holds out the potential of yielding new insights on strategic decision-making under uncertainty as well as...