Managing Uncertainty in A Formal Standards-Based Industry : A Real Options Perspective on Acquisition Timing  

Oleh:

Steensma, H. Kevin ; Fairbank, James F. ; Warner, Alfred G.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: JOM: Journal of Management vol. 32 no. 2 (Apr. 2006), page 279-298.
Topik: ACQUISITION; AKUISISI; real options; acquisition; technology standards; telecommunications
Fulltext: 279.pdf (139.26KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ92.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Scholars have theorized that firms can intervene in the creation of formal technology standards to reduce uncertainty and influence the outcome to their advantage. One approach is through early acquisition : Firms can acquire targets with relevant technology prior to standardization. Using real options logic, the authors show how early acquisitions can be considered a growth option under certain circumstances. They find that acquisitions are more likely to occur before the passage of the standard when : (a) acquirers lacked relevant technical knowledge, (b) target firms possessed relevant technical knowledge, and (c) acquirers had a prior equity investment in the target firm.

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