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Towards a Well-Founded Valuation of Managerial Fleibilities in IT Investment Projects - A Multidisciplinary Literature Review
Heinrich, Bernd, Müller, Marcel, Stoeckl, Sebastian und Zimmermann, Steffen (2015) Towards a Well-Founded Valuation of Managerial Fleibilities in IT Investment Projects - A Multidisciplinary Literature Review. SSRN.Veröffentlichungsdatum dieses Volltextes: 16 Nov 2015 08:35
Artikel
DOI zum Zitieren dieses Dokuments: 10.5283/epub.32770
Zusammenfassung
In the IS literature standard financial option pricing models are predominantly used to value real options embedded in uncertain IT projects. Based on a multidisciplinary literature review, we discuss the assumptions implicit in the prevalent Black-Scholes model and argue for relaxed assumptions that better represent characteristics of uncertain IT projects. This is followed by a discussion of ...
In the IS literature standard financial option pricing models are predominantly used to value real options embedded in uncertain IT projects. Based on a multidisciplinary literature review, we discuss the assumptions implicit in the prevalent Black-Scholes model and argue for relaxed assumptions that better represent characteristics of uncertain IT projects. This is followed by a discussion of real option approaches from the fields of IS, Finance, and Economics in respect of their compliance with these relaxed assumptions. Findings are: (I) by relaxing the assumptions, the option value and project selection decisions are liable to change; (II) several approaches from Finance and Economics literature better comply with our relaxed assumptions compared to existing approaches in IS literature; (III) no existing real option approach complies with all relaxed assumptions. Adapting and enhancing approaches of other disciplines could be a push towards a well-founded valuation of real options embedded in IT projects.
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| Dokumentenart | Artikel | ||||||
| Titel eines Journals oder einer Zeitschrift | SSRN | ||||||
| Datum | 2015 | ||||||
| Institutionen | Wirtschaftswissenschaften > Institut für Wirtschaftsinformatik > Lehrstuhl für Wirtschaftsinformatik II (Prof. Dr. Bernd Heinrich) Informatik und Data Science > Fachbereich Wirtschaftsinformatik > Lehrstuhl für Wirtschaftsinformatik II (Prof. Dr. Bernd Heinrich) | ||||||
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| Stichwörter / Keywords | Real Options Analysis, Black-Scholes Model, Assumptions, Characteristics of IT Projects, Multidisciplinary Literature Review | ||||||
| Dewey-Dezimal-Klassifikation | 300 Sozialwissenschaften > 330 Wirtschaft | ||||||
| Status | Veröffentlicht | ||||||
| Begutachtet | Ja, diese Version wurde begutachtet | ||||||
| An der Universität Regensburg entstanden | Ja | ||||||
| URN der UB Regensburg | urn:nbn:de:bvb:355-epub-327706 | ||||||
| Dokumenten-ID | 32770 |
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