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Evaluating growth options as sources of value for pharmaceutical research projects
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Backsourcing Flexibility in IT Services Contracts (2010)Technology investment decision-making under uncertainty (2015)Real Options Models for Proactive Uncertainty-Reducing Mitigations and Applications in Cybersecurity Investment Decision Making (2018)Project management — A managerial approach (1989)An integrated framework for project portfolio selection (1999)Risk Analysis: A Quantitative Guide (2000)A novel approach based on DEMATEL method and patent citation analysis for prioritizing a portfolio of investment projects (2014)New Measures of Circular Economy Thinking In Construction Companies (2018)Sustainable project selection: Optimal project selection considering sustainability under reinvestment strategy (2018)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The price of innovation: new estimates of drug development costs (2003)Institutional entrepreneur strategies in emerging economies: Creating market exclusivity for the rising affluent (2018)Exploring the Impact of Meta-Analysis in Scientific Research: A Review (2024)The Internationalization Process of the Firm—A Model of Knowledge Development and Increasing Foreign Market Commitments (1977)Analysis of Panel Data (2003)Multinationality, portfolio diversification, and asymmetric MNE performance: The moderating role of real options awareness (2020)Economic policy uncertainty, oil price shocks and corporate investment: Evidence from the oil industry (2021)Economic policy uncertainty and firm propensity to invest in corporate social responsibility (2022)Determinants of corporate borrowing (1977)“Options, Futures, and Other Derivatives” (2016)Static R&D project portfolio selection in public organizations (2016)When do Firms Invest in Corporate Social Responsibility? A Real Option Framework (2015)A Real Option Approach to Sustainable Corporate Tax Behavior (2020)
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  • 2015Innovation Portfolio Management: A Synthesis and Research Agenda57 cited
  • 2013Open innovation: A real option to restore value to the biopharmaceutical R&D56 cited
  • 2021Innovation portfolio management: a systematic review and research agenda in regards to digital service innovations50 cited
  • 2010Addressing R&D investment decisions: a cross analysis of R&D project selection methods44 cited
  • 2007Dynamic order acceptance and capacity planning on a single bottleneck resource44 cited

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  • 2007Impact of tactical and operational policies in the selection of a new product portfolio39 cited
  • 2007Corporate investments and growth options38 cited
  • 2005Determining the value of drug development candidates and technology platforms35 cited