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Tackling uncertain future scenarios with real options: A review and research framework Cover

Tackling uncertain future scenarios with real options: A review and research framework

The Irish Journal of Management
Volume 41 (2022): Issue 1 (July 2022)
By: Natalia Gorupec,  Nataliia Brehmer,  Victor Tiberius and  Sascha Kraus  
Open Access
|May 2022

Figures & Tables

Fig. 1

Annual number of primary papers.
Annual number of primary papers.

Fig. 3

Network I (bibliographic coupling, 2000–2009).
Network I (bibliographic coupling, 2000–2009).

Fig. 4

Network II (bibliographic coupling, 2010–2019).
Network II (bibliographic coupling, 2010–2019).

Fig. 5

RO Research Framework. Source: Own Elaboration.
RO Research Framework. Source: Own Elaboration.

Proposed future research themes_

What are the independencies between internal and external uncertainties as antecedents of the application of RO theory?How can RO theory be applied to sustainability issues (such as renewable energy)?What are the differences between various RO application areas?How can RO valuation models be simplified for an easier application in managerial practice?What are the opportunities to combine RO with other theories (such as game theory)?

Most cited journals_

RJournal NameTCTPHI
1Academy of Management Review1,41655
2Strategic Management Journal9791310
3Energy Policy6542214
4European Journal of Operational Research6512814
5Energy Economics6372413
6Journal of Finance59276
7Management Science52598
8Harvard Business Review42933
9Organization Science42244
10Review of Financial Studies33365
11Journal of International Business Studies32766
12Quarterly Journal of Economics27011
13Journal of Financial Economics26744
14Decision Sciences26555
15Journal of Management Information Systems24855
16Journal of Financial and Quantitative Analysis24133
17Information Systems Research23554
18IEEE Transactions on Engineering Management22986
19Journal of Environmental Economics and Management22833
20Financial Management21654
21Operations Research20654
22Economic Journal19911
23International Journal of Production Economics198108
24Journal of Management Studies19733
25Review of Economic Studies19322

Most cited authors_

RAuthorTCTPHI
1McGrath R1,25733
2Folta T44343
3Grenadier S42444
4Benaroch M40844
5Miller K36533
6Smith J35633
7Luehrman T32522
8Adner R31522
9Kauffman R28222
10Trigeorgis L28076
11Kulatilaka N27722
12Levinthal D27511
13Paddock J27011
14Siegel D27011
15Loch C26011
16Huchzermeier A26011
17Nerkar A25611
18Tong T25033
19Kogut B24311
20Tufano P23322
21Vassolo R22311
22Anand J22311
23Reuer J21522
24Van Reenen J19911
25Bloom N19911

Most cited articles_ Source: Own elaboration_

RTitle, Author, YearTCTC/y
1Falling forward: Real options reasoning and entrepreneurial failure, McGrath, 199958327.8
2A real options logic for initiating technology positioning investments, McGrath, 199741818.2
3Renewable energy investments under different support schemes: A real options approach, Boomsma, Meade, & Fleten, 201213917.4
4What is not a real option: Considering boundaries for the application of real options to business strategy, Adner & Levinthal, 200427517.2
5Real options reasoning and a new look at the R&D investment strategies of pharmaceutical firms, McGrath & Nerkar, 200425616.0
6Non-additivity in portfolios of exploration activities: A real options-based analysis of equity alliances in biotechnology, Vassolo, Anand, & Folta, 200422313.9
7Project management under risk: Using the real options approach to evaluate flexibility in R&D, Huchzermeier & Loch, 200126013.7
8Capabilities as real options, Kogut & Kulatilaka, 200124312.8
9A real options model for renewable energy investment with application to solar photovoltaic power generation in China, Zhang, Zhou, & Zhou, 20164912.3
10A real options evaluation model for the diffusion prospects of new renewable power generation technologies, Kumbaroğlu, Madlener, & Demirel, 200813411.2
11Patents, real options and firm performance, Bloom & van Reenen, 200219911.1
12The strategic exercise of options: Development cascades and overbuilding in real estate markets, Grenadier, 199625310.5
13Optimal design of feed-in-tariffs to stimulate renewable energy investments under regulatory uncertainty - A real options analysis, Ritzenhofen & Spinler, 20164110.3
14Strategic delay in a real options model of R&D competition, Weeds, 200218210.1
15Optimal feed-in tariff for solar photovoltaic power generation in China: A real options analysis, Zhang, Zhou, Zhou, & Liu, 20164010.0
16A case for using real options pricing analysis to evaluate information technology project investments, Benaroch & Kauffman, 19992049.7
17Managing information technology investment risk: A real options perspective, Benaroch, 20021639.1
18Real options in equity partnerships, Folta & Miller, 20021639.1
19Real options and foreign affiliate divestments: A portfolio perspective, Belderbos & Zou, 2009999.0
20Real options, international entry mode choice and performance, Brouthers, Brouthers, & Werner, 20081078.9
DOI: https://doi.org/10.2478/ijm-2022-0003 | Journal eISSN: 2451-2834 | Journal ISSN: 1649-248X
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Language: English
Page range: 69 - 88
Published on: May 27, 2022
Published by: Irish Academy of Management
In partnership with: Paradigm Publishing Services
Publication frequency: 3 issues per year
Keywords:
Bibliometric analysis,
decision processes,
real options,
research framework
Related subjects:
Business and economics,
Business management,
Marketing, sales, customer relations,
Management, organization, corporate governance,
Entrepreneurship,
Human resources, labor practice, job and career

© 2022 Natalia Gorupec, Nataliia Brehmer, Victor Tiberius, Sascha Kraus, published by Irish Academy of Management
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

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