Professor Lenos Trigeorgis' Outputs (6)

Real Options in Operations Research: A Review (2017)
Journal Article
Trigeorgis, L., & Tsekrekos, A. E. (2018). Real Options in Operations Research: A Review. European Journal of Operational Research, 270(1), 1-24. https://doi.org/10.1016/j.ejor.2017.11.055

The Real Options approach to decision-making has been useful in capturing and valuing the flexibility inherent in many operating decisions that decision makers are faced with. In Operations Research (OR), a field that encompasses a plethora of proble... Read More about Real Options in Operations Research: A Review.

Flexibility as firm value driver: Evidence from offshore outsourcing (2017)
Journal Article
Choi, J. J., Ju, M., Kotabe, M., Trigeorgis, L., & Zhang, X. T. (2018). Flexibility as firm value driver: Evidence from offshore outsourcing. Global Strategy Journal, 8(2), 351-376. https://doi.org/10.1002/gsj.1181

This article tests real options theory predictions that uncertainty and flexibility are key value drivers for offshore outsourcing moderated by switching costs. Examining firm-specific and market data for outsourcing cases by U.S. firms, we find that... Read More about Flexibility as firm value driver: Evidence from offshore outsourcing.

Multinationality and firm value: The role of real options awareness (2017)
Journal Article
Ioulianou, S., Trigeorgis, L., & Driouchi, T. (2017). Multinationality and firm value: The role of real options awareness. Journal of Corporate Finance, 46, 77-96. https://doi.org/10.1016/j.jcorpfin.2017.06.011

We contribute to multinationality and real options theories by considering the role of firm heterogeneity in real options awareness for MNCs. We test the joint impact of real options awareness (RO-AWN) and multinationality on firm value using an exte... Read More about Multinationality and firm value: The role of real options awareness.

Strategic NPV: Real Options and Strategic Games under Different Information Structures (2017)
Journal Article
Smit, H. T., & Trigeorgis, L. (2017). Strategic NPV: Real Options and Strategic Games under Different Information Structures. Strategic Management Journal, 38(13), 2555-2578. https://doi.org/10.1002/smj.2665

Among the most difficult firm strategic choices is the trade-off between making a long-term commitment or holding off on investment in the face of uncertainty. To operationalize strategic management theory under demand, technological and competitive... Read More about Strategic NPV: Real Options and Strategic Games under Different Information Structures.

Real Options, Idiosyncratic Skewness, and Diversification (2017)
Journal Article
Del Viva, L., Kasanen, E., & Trigeorgis, L. (2017). Real Options, Idiosyncratic Skewness, and Diversification. Journal of Financial and Quantitative Analysis, 52(1), 215-241. https://doi.org/10.1017/s0022109016000703

We show how firm-level real options lead to idiosyncratic skewness in stock returns. We then document empirically that growth option variables are positive and significant determinants of idiosyncratic skewness. The real option impact on skewness is... Read More about Real Options, Idiosyncratic Skewness, and Diversification.

Corporate liquidity and dividend policy under uncertainty (2017)
Journal Article
Koussis, N., Martzoukos, S. H., & Trigeorgis, L. (2017). Corporate liquidity and dividend policy under uncertainty. Journal of Banking and Finance, 81, 221-235. https://doi.org/10.1016/j.jbankfin.2017.01.021

We examine optimal liquidity (retained earnings) and dividend choice incorporating debt financing with risk of default and bankruptcy costs as well as growth options under revenue uncertainty. We revisit the conditions for dividend policy irrelevancy... Read More about Corporate liquidity and dividend policy under uncertainty.