[10月11日]管理学workshop

发布日期:2018-10-08 05:37    来源:北京大学国家发展研究院

A Review of Research on Business Exit:

 

A Real Options Perspective

 

HAN Xia, Xie Xuanli and MA Hao

 

Time: October 11th, 2018(Thursday) 12:30-14:00

Location: 611A Classroom, National School of Development, Peking University

Speaker: HAN Xia

     PhD Candidate of Strategic Management

     National School of Development, Peking University

 

 

Abstract

As parts of corporate strategy that is largely concerned with the definition of a firm’s scope of operation, entry and exit decisions are of prime importance to the viability of its business portfolio. While the entry decisions are often associated with projected opportunities and expected gains, the exit decisions are often being associated to threats or business failures. As such, not surprisingly, in the strategic management literature, studies abound in the examination of the entry decisions and their respective antecedents, processes, and consequences. However, exit decisions, relatively speaking, attracted less attention.

Moreover, extant research tends to treat business exits as primarily failures or responses to failures, despite increasing attention to the fact that a firm could use business exit as a proactive strategic choice to reconfigure its resources and capabilities as well as to seize and exploit new market opportunities. Building on such a proactive perspective, we hope to present a more balanced view of business exit. Specifically, we advocate the use of the real options approach to the study of business exit and suggest new avenues for future research.

 

摘要:

企业进入与退出哪些业务关系到企业的经营范围,这是战略管理领域关注的核心议题之一。现有的研究中,一方面较多的关注企业的业务进入决策,对业务退出行为关注较少;另一方面,对业务退出的理论视角的应用,大多将业务退出描述为对经营绩效较差、盈利较差等的被动应对,而很少考虑业务退出的主动型行为的战略意义。本文弥补现有研究中的这两点不足。首先,本文从业务退出的含义、研究情境和理论视角的演化角度出发,整理和总结现有文献。其次,本文关注实物期权理论在业务退出研究领域的应用,确立实物期权理论与业务退出之间的理论关联,阐述该视角应用上的理论价值,并根据期权的特征(不确定性的性质和程度)以及业务退出的特征(单一业务退出或多重业务退出),构建2x3分类框架。最后,本文讨论在研究业务退出上,实物期权理论对现有理论的拓展,及其应用上的局限性,并探讨了未来的研究方向,包括理论上的、实证上的、以及与其他理论的进一步融合。

关键词:业务退出 实物期权 剥离 业务抛售 再聚焦 去多元化

 

Bio

韩夏,北京大学国家发展研究院,管理学博士生(战略管理方向)