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Playing at Acquisitions : Behavioral Option Games / Han T. J. Smit, Thras Moraitis.

By: Contributor(s): Material type: TextTextPublisher: Princeton, NJ : Princeton University Press, [2015]Copyright date: ©2015Edition: Course BookDescription: 1 online resource (216 p.) : 1 halftone. 28 line illusContent type:
Media type:
Carrier type:
ISBN:
  • 9780691140001
  • 9781400852178
Subject(s): DDC classification:
  • 658.162 23
LOC classification:
  • HD2746.5 .S644 2017
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- CONTENTS -- LIST OF FIGURES -- LIST OF TABLES -- PREFACE -- CHAPTER 1. LEARNING TO SEE, TO ADAPT TO, AND TO VALUE UNCERTAINTY -- PART I. LEARNING TO SEE UNCERTAINTY -- CHAPTER 2. HOW TO DE-BIAS VALUATION OVER THE CYCLE -- CHAPTER 3. PLAYING AT SERIAL ACQUISITIONS: THE CASE OF VODAFONE -- PART II. LEARNING TO ADAPT TO UNCERTAINTY -- CHAPTER 4. STRATEGY AS OPTIONS GAMES -- CHAPTER 5. DUAL REAL OPTIONS VALUATION: THE XSTRATA CASE -- PART III. LEARNING TO VALUE UNCERTAINTY -- CHAPTER 6. OPTION GAMES VALUATION -- CHAPTER 7. CONCLUSION AND IMPLICATIONS -- BIBLIOGRAPHY -- INDEX
Summary: It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls. Playing at Acquisitions provides managers with a powerful methodology for designing and executing successful acquisition strategies. The book tackles the myriad executive biases that infect decision making at every stage of the acquisition process, and the inadequacy of current valuation approaches to help mitigate these biases and more realistically represent value in uncertain environments.Bringing together the latest advances in behavioral finance, real option valuation, and game theory, this unique playbook explains how to express acquisition strategies as sets of real options, explicitly introducing uncertainty and future optionality into acquisition strategy design. It shows how to incorporate the competitive dynamics that exist in different acquisition contexts, acknowledge and even embrace uncertainty, identify the value of the real options embedded in targets, and more.Rooted in economic theory and featuring numerous real-world case studies, Playing at Acquisitions will enhance the ability of CEOs and their teams to derive value from their acquisition strategies, and is also an ideal resource for researchers and MBAs.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9781400852178

Frontmatter -- CONTENTS -- LIST OF FIGURES -- LIST OF TABLES -- PREFACE -- CHAPTER 1. LEARNING TO SEE, TO ADAPT TO, AND TO VALUE UNCERTAINTY -- PART I. LEARNING TO SEE UNCERTAINTY -- CHAPTER 2. HOW TO DE-BIAS VALUATION OVER THE CYCLE -- CHAPTER 3. PLAYING AT SERIAL ACQUISITIONS: THE CASE OF VODAFONE -- PART II. LEARNING TO ADAPT TO UNCERTAINTY -- CHAPTER 4. STRATEGY AS OPTIONS GAMES -- CHAPTER 5. DUAL REAL OPTIONS VALUATION: THE XSTRATA CASE -- PART III. LEARNING TO VALUE UNCERTAINTY -- CHAPTER 6. OPTION GAMES VALUATION -- CHAPTER 7. CONCLUSION AND IMPLICATIONS -- BIBLIOGRAPHY -- INDEX

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls. Playing at Acquisitions provides managers with a powerful methodology for designing and executing successful acquisition strategies. The book tackles the myriad executive biases that infect decision making at every stage of the acquisition process, and the inadequacy of current valuation approaches to help mitigate these biases and more realistically represent value in uncertain environments.Bringing together the latest advances in behavioral finance, real option valuation, and game theory, this unique playbook explains how to express acquisition strategies as sets of real options, explicitly introducing uncertainty and future optionality into acquisition strategy design. It shows how to incorporate the competitive dynamics that exist in different acquisition contexts, acknowledge and even embrace uncertainty, identify the value of the real options embedded in targets, and more.Rooted in economic theory and featuring numerous real-world case studies, Playing at Acquisitions will enhance the ability of CEOs and their teams to derive value from their acquisition strategies, and is also an ideal resource for researchers and MBAs.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)