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dc.contributor.authorAndrés Alonso, Pablo de
dc.contributor.authorFuente Herrero, Gabriel de la 
dc.contributor.authorVelasco González, María del Pilar
dc.date.accessioned2021-08-19T08:39:22Z
dc.date.available2021-08-19T08:39:22Z
dc.date.issued2021
dc.identifier.citationJournal of Business Research, 2021, vol. 132. p. 571-585es
dc.identifier.issn0148-2963es
dc.identifier.urihttps://uvadoc.uva.es/handle/10324/47899
dc.descriptionProducción Científicaes
dc.description.abstractThis paper investigates a firm’s decision to exercise its growth options within the current scope of business. We contend that the point at which a firm chooses whether or not to exercise such options depends on several strategic characteristics associated to its portfolio of businesses (i.e. level of diversification, average volatility of its current business, relatedness among them, and rivalry in its core business). Using a sample of U.S. companies from 1998 to 2013, we find evidence that a firm’s level of diversification and the volatility of its current business deter immediate growth option exercise. In contrast, relatedness and rivalry in its core business trigger growth options exercise. Our portfolio perspective differs from the bulk of the literature on real options, which evaluates each growth option exercise in isolation, and contributes to furthering knowledge on the drivers underlying a diversified firm's strategic investments.es
dc.format.mimetypeapplication/pdfes
dc.language.isoenges
dc.publisherElsevieres
dc.rights.accessRightsinfo:eu-repo/semantics/openAccesses
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subject.classificationOpportunity exploitationes
dc.subject.classificationExplotación de oportunidadeses
dc.subject.classificationPortfolioes
dc.subject.classificationInvestment strategyes
dc.subject.classificationInvestment strategieses
dc.subject.classificationEstrategias de inversiónes
dc.titleExercising a firm’s growth options: A portfolio approaches
dc.typeinfo:eu-repo/semantics/articlees
dc.rights.holder© 2021 The Authorses
dc.identifier.doi10.1016/j.jbusres.2021.04.074es
dc.relation.publisherversionhttps://www.sciencedirect.com/science/article/pii/S0148296321003192?via%3Dihubes
dc.peerreviewedSIes
dc.description.projectJunta de Castilla y León (grant VA260U14)es
dc.description.projectGobierno de la Comunidad de Madrid - Fondo Social Europeo (grant EARLYFIN, S2015/HUM-3353)es
dc.description.projectMinisterio de Ciencia e Innovación (grants ECO2017-84864-P and ECO2017-85356-P)es
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internacional*
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersiones


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