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Les managers raisonnent-ils par options réelles ? Une étude exploratoire des déterminants

Author

Listed:
  • Marc Fréchet

    (COACTIS - COnception de l'ACTIon en Situation - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne)

  • Hassen Raîs

    (ESSCA Research Lab - ESSCA - Ecole Supérieure des Sciences Commerciales d'Angers)

Abstract

La théorie des options réelles est abondamment évoquée par les travaux en stratégie. Néanmoins, l'impact de cette théorie sur le raisonnement des managers est limité si l'on s'en tient à l'aspect calculatoire de la valorisation des options. Dans le même temps, il apparaît que les décideurs, s'ils n'utilisent pas les options réelles dans leur forme pure, adoptent pourtant des modes de raisonnement qui s'inspirent des grands principes des options réelles. L'objectif de cet article est d'identifier, à partir de quatre grands types d'options, à quels facteurs explicatifs la sensibilité des managers au raisonnement optionnel est rattachée. Par le biais d'une étude empirique, nous montrons que la mobilisation de ces options par les managers dépend étroitement de leur propension à évaluer leurs projets en termes d'alternative et à penser les investissements selon un horizon temporel fini. En revanche, nous mettons en évidence des effets contrastés, selon les catégories d'options, de l'incertitude ressentie, de la pression à l'innovation, et de la veille environnementale menée au sein de l'entreprise.

Suggested Citation

  • Marc Fréchet & Hassen Raîs, 2015. "Les managers raisonnent-ils par options réelles ? Une étude exploratoire des déterminants," Post-Print hal-01764120, HAL.
    • Handle: RePEc:hal:journl:hal-01764120
    Note: View the original document on HAL open archive server: https://hal.science/hal-01764120
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    References listed on IDEAS

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