Dissatisfaction with discounted cash flow techniques has lead to a growing literature focusing on the value of managerial flexibility in handling real asset investments, a subject are known as real options. This paper describes an exploratory survey of senior financial officers in industrial...

There has been a long-standing concern in the literature with the idea of countervailing risks, risk trade-offs and risk migration, reflecting our experience of risks as typically being transformed rather than eliminated. Our aim has been to combine this with the similarly long-standing...