• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Iuliia Bodrova
Application of Real Options in Global Value Chains: Possibilities and Limitations
Finance
(Master’s programme)
2018
Effective insertion in global value chains is now on the agenda for many countries, industries and companies as it is a generally accepted way toward enhancing effectiveness of operations. However, at the same time participation in global value chains creates a number of risks for the companies. Meanwhile, real options are commonly applied as a risk management tool when performing valuation of a certain company or investment project. Because of their ability to take into account future developments in the market or even some changes in geopolitical situation, they enable to add into analysis the respective managerial decisions corresponding to these scenarios.

In this paper we analyse how real options can be applied in value chains with different types of governance. We develop a methodology to consider the limitations imposed by a particular pattern of interactions between the companies in the value chain, and how the power asymmetry, completeness or incompleteness of contracts and specifity of investments impact the real options application.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses