Search results for "Real Options Analysi"

Real Options Analysis (ROA)opens innovation: the biopharmaceutical case

2012

Open innovation: A real option to restore value to the biopharmaceutical R&D

2014

The pharmaceutical landscape has changed, and new business models, based on alliances, are increasingly being adopted in this industry. Biotechnology advances have pushed this development, and pooling complementary resources coming from incumbents and newcomers is a key skill to succeed: these are the premises for a quick spread of the open innovation (OI) paradigm in this industry. R&D portfolio selection needs R&D project evaluation, and Real Options Analysis (ROA) is acknowledged as a powerful tool to evaluate uncertain projects that have an intrinsic flexibility. The present research aims to foster the use of ROA in the OI field in order to encourage firms to undertake this innovation mode…

A real options based model to select a balanced R&D portfolio

2011

The R&D process in the pharmaceutical industry has a long and dynamic life then it is an ideal field of application for ROA. Actually, ROA implementation, as widely demonstrated in literature, is narrowed to very limited cases because its perceived complexity. This research wants to suggest a simplified method, respect the ones available in literature, that could foster the use of ROA: we built up an integer linear programming model, based on a model available in literature, useful for selecting a balanced R&D portfolio from a set of candidate drugs. The model has been tested through a case study.

An affordable way to implement real options to select optimal R&D portfolio

2011

Real option Analysis (ROA) is acknowledged as a powerful tool to evaluate uncertain projects whose uncertainty depends heavily on alternatives available along the project life. The R&D process in the pharmaceutical industry has a long and dynamic life then it is an ideal field of application for ROA. Actually, ROA implementation, as widely demonstrated in literature, is narrowed to very limited cases because its perceived complexity. This research wants to suggest a simplified method, respect the ones available in literature, that could foster the use of ROA: we built up an integer linear programming model, based on a model available in literature, useful for selecting the optimal R&D produ…

Real options analysis as a tool for start-up company investment valuation

2015

Pro Gradu -tutkielman tavoitteena oli tutkia Real Option Analysis -metodin sopivuutta start-up yhtiön investoinnin arvonmääritykseen. Jotta tutkimuskysymykseen saatiin vastaus, tuli myös case-yhtiön liiketoimintasuunnitelma selvittää ja edelleen mitkä ovat liiketoiminnan potentiaaliset rahavirrat, joihin arvonmääritys perustuu. Tutkimusmenetelmä oli kvantitatiivinen case-tutkimus ja tutkimusmetodi oli konstruktiivinen ja deskriptiivinen. Tutkimuksessa konstruoitiin työkalu ja arvonmääritys case-yrityksen suunnitellulle investoinnille. Toisaalta tutkimuksessa kuvailtiin arvonmääritystä yleisesti sekä Real Options Analysis -metodia. Tutkimuksen pohjaksi tutustuttiin start-up yhtiöihin, arvonm…