MOTI: Real Options for Management of Technological Innovations

MOTI：技术创新管理的实物期权

• 批准号: 9732470
• 负责人: V Ramesh
• 金额: $ 19.88万
• 依托单位: Illinois Institute of Technology
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 1998
• 资助国家: 美国
• 起止时间: 1998-05-01 至 2001-04-30
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9732470&HistoricalAwards=false
• 关键词: MOTI; Real; Options; Management; Technological

9732470 Ramesh Risk is inevitable in management of technological innovations. However, little information exists on the adoption of financial risk management techniques (such as valuation of "real options") to reflect managerial flexibility in R&D projects. In the proposed research, the applicability of option pricing theory to real-world project management in the (recently deregulated) electric utility industry will be tested. In particular, the real options methodologies developed by Dixit & Pindyck, Grenadier & Weiss and by Mitchell & Hamilton will be used to analyze selected electric utility industry innovation management problems. A new real options methodology for evaluating R&D investment alternatives in the utility industry is proposed. This proposed methodology consider factors unique to utility industry including the new competitive environment; the matured nature of technological and the danger of employee resistance to changes in work practices, which may be necessary for adoption of new technology. A software package that implements this methodology will be developed. Graduate courses and seminars based on this work for the interdisciplinary industry-oriented "energy markets" program will be introduced. The findings and the methodology will also be adapted to other management of innovation situations.

9732470拉梅什风险是技术创新管理中不可避免的。然而，有关采用财务风险管理技术(如“实物期权”估值)来反映研发项目管理灵活性的信息很少。在拟议的研究中，将检验期权定价理论在(最近放松管制的)电力公用事业行业的现实世界项目管理中的适用性。特别是，Dixit&amp；Pindyck，Griadier&Amp；Weiss和Mitchell&Amp；Hamilton开发的实物期权方法将用于分析选定的电力公用事业行业创新管理问题。提出了一种新的评价公用事业R&D投资选择的实物期权方法。这一拟议的方法考虑了公用事业行业独有的因素，包括新的竞争环境、技术的成熟性质以及员工对采用新技术可能需要的工作做法变化的抵触危险。将开发一个实施这一方法的软件包。将在此基础上为面向行业的跨学科“能源市场”项目开设研究生课程和研讨会。研究结果和方法也将适用于其他创新情况的管理。