Search Results - "Lukas, Elmar"

The interaction of debt financing, cash grants and the optimal investment policy under uncertainty by Lukas, Elmar, Thiergart, Sascha

“…•We employ a dynamic game-theoretic real option model between a firm and government.•We deduce the optimal investment timing, scaling, subsidy, and financing…”
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Venture capital, staged financing and optimal funding policies under uncertainty by Lukas, Elmar, Mölls, Sascha, Welling, Andreas

“…•We present a dynamic game theoretic real option model of multi-stage VC-financing.•We analyze how economic and technological uncertainties affect optimal…”
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Leaving well-worn paths: Reversal of the investment-uncertainty relationship and flexible biogas plant operation by Briest, Gordon, Lauven, Lars-Peter, Kupfer, Stefan, Lukas, Elmar

“…•We link time-series-based optimization approaches and real options theory.•We find a possible reversal of the investment-uncertainty relationship.•We describe…”
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Efficient non-cooperative bargaining despite keeping strategic information private by Lukas, Elmar, Welling, Andreas

“…The preferred method for negotiating joint value-added activities, such as e.g. licensing, co-venturing or supply chain expansion, is cooperative bargaining,…”
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Earnouts in mergers and acquisitions: A game-theoretic option pricing approach by Lukas, Elmar, Reuer, Jeffrey J., Welling, Andreas

“…► The paper presents a dynamic decision-making model for merger and acquisition (M&A) deals employing contingent earnouts. ► In particular, we use a sequential…”
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Negotiating M&As under uncertainty: The influence of managerial flexibility on the first-mover advantage by Lukas, Elmar, Welling, Andreas

“…► We model a sequential bargaining game of an M&A by means of real options. ► We show that in general a first-mover advantage prevails. ► Increasing interest…”
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Timing and eco(nomic) efficiency of climate-friendly investments in supply chains by Lukas, Elmar, Welling, Andreas

“…•We analyze the timing decision of a company which can invest in a CO2-saving project.•Doing this, we use a real options game-theoretic model.•Total emission…”
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On the determinants of the dynamic choice between mergers and tender offers by Lukas, Elmar, Pereira, Paulo J., Rodrigues, Artur

“…This paper builds on recent advances in the domain of dynamic M&A option games under uncertainty and looks closer at the determinants that drive the strategic…”
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Modeling the transitional dynamics of international joint venture policies: An option pricing approach by Lukas, Elmar

“…Real option analysis has been applied to strategies of market entry and global expansion, predominantly in combination with the formation of alliances and…”
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Designing optimal M&A strategies under uncertainty by Lukas, Elmar, Pereira, Paulo J., Rodrigues, Artur

“…The recent surge in M&A activities highlights firms’ motivation to gain or maintain market leadership. Along with the unparalleled volume of M&As, more and…”
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When and how much to invest? Investment and capacity choice under product life cycle uncertainty by Lukas, Elmar, Spengler, Thomas Stefan, Kupfer, Stefan, Kieckhäfer, Karsten

“…•We introduce a novel real option model considering the life cycle of a product.•We solve simultaneously for optimal timing and optimal capacity choice.•Model…”
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On the investment–uncertainty relationship: A game theoretic real option approach by Lukas, Elmar, Welling, Andreas

“…•We analyze the investment–uncertainty relationship by means of a sequential game.•A U-shaped investment–uncertainty relationship sustains due to sunk cost…”
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Innovation speed under uncertainty and competition by Briest, Gordon, Lukas, Elmar, Mölls, Sascha H., Willershausen, Timo

“…Innovation speed is widely considered to be a key factor for a firm's ability to maintain competitive advantage. Primarily, empirical evidence has found…”
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Dynamic market entry and the value of flexibility in transitional international joint ventures by Lukas, Elmar

“…The purpose of this study is to formalize the optimal choice of market entry strategy for an individual multinational enterprise (MNE) from a dynamic…”
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Investment timing under political ambiguity by Welling, Andreas, Lukas, Elmar, Kupfer, Stefan

“…In addition to economic risks, the economic success of investments often critically depends on the uncertain results of future political regime switches…”
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Integrated Strategic Planning of Global Production Networks and Financial Hedging under Uncertain Demands and Exchange Rates by Koberstein, Achim, Lukas, Elmar, Naumann, Marc

“…In this paper, we present a multi-stage stochastic programming model that integrates financial hedging decisions into the planning of strategic production…”
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The choice between greenfield investment and cross-border acquisition: A real option approach by Gilroy, Bernard Michael, Lukas, Elmar

“…The purpose of this study is to formalize the choice of market entry strategy for an individual multinational enterprise (MNE) from a dynamic perspective. It…”
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Hedging mean-reverting commodities by Broll, Udo, Clark, Ephraim, Lukas, Elmar

“…This paper uses the expected utility framework to examine the optimal hedging decision for commodities with mean-reverting price processes. The derived results…”
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