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The paper aims to evaluate the real research and development (R&D) options value through the proposed model that can jointly consider the two types of risk management activities, i.e. hedging risks and making use of risks. Hedging is an important risk‐management tool that can diversify R&D risk internally since R&D organizations cannot transfer technological risks to another entity by conventional loss financing methods. Making use of risks means R&D organizations can benefit from proactively managing risks, and then can create management‐flexibility value from the real option reasoning viewpoint.

Using the real options pricing approach, the paper provides an applicable assessment method for R&D projects that can jointly consider the aforementioned two types of risk management activities. The paper also investigates the value‐enhancing effects of R&D risk management activities via interviews survey and secondary data analyses in the pharmaceutical industry of Taiwan.

Through numerical analyses, the results indicate that the hedging management can serve to be effective mechanisms of risk reduction as well as value enhancement for R&D projects. Additionally, the value‐enhancing effect of hedging management is more significant for those R&D projects with even higher risk‐level. The results of empirical study also are consistent with the model prediction.

To achieve great performance of R&D risk management, R&D organizations need to implement both the types of risk management activities. By this real‐options valuation approach incorporating together those risk management activities, R&D projects portfolio can be evaluated adequately.

Many manufacturers are transforming into manufacturing service industry to enhance their value creation. Adopting the value‐added chain model, this study aimed to conduct four case studies, including Acer, Giant, TSMC and Eternal, to verify the high‐valued strategies and the common characteristics of service provisions.

Four case studies, including Acer, Giant, TSMC and Eternal, were conducted to verify the high‐valued strategies and the common characteristics of service provisions. Specifically, these companies are selected from different industry and value chain position to enhance the robustness of the research findings.

This study concluded that the manufacturing firms strengthen their position as system integrator. The provision of high‐valued services is orientated toward the integration of the value chain stages according to the industry and business model. The companies are going to upstream or downstream, outsource non‐core manufacturing activities, and sell some manufacturing assets. The high‐valued service strategies provided the manufacturing firms with new approaches to compete in a rapidly changing economy. The findings also provided the direction for the emerging economies in confronting with industrial structure transformation.

This study focuses on the transformation of four manufacturing firms toward providing high value‐added services. The results conclude that manufacturing firms can integrate forward and backward stages in the value‐added chain, and provide the knowledge‐based services including R&D, marketing, information system, branding, financial and after‐sale services to enhance the market value of their products. This study argues that the high value‐added service strategies can be a great opportunity for the manufacturers.

The paper aims to develop an alternative valuation model for money‐back guarantees (MBG) using a real‐option approach and examine the validity of the proposed model with an experimental design. This study attempts to address how retailers appropriately price MBG from a consumer value‐based viewpoint.

The study defines the perceived post‐purchase product value as a stochastic underlying process, and then MBG option value could be theoretically determined by the real‐option pricing approach. For the test of the real‐option perspective on MBG, a 2×2×2 factorial experimental design is conducted to examine the empirical effects.

With model specification, the study investigated the effects of three key factors, i.e. price level, perceived risk level, and consumers' risk‐aversion, which are characterized by a two‐sided effect on MBG option value. The relationships among those factors also are clarified through theoretical analyses. The empirical results could be explained well by the proposed model.

Faced with increasingly competitive market, retailers typically need more sophisticated pricing strategies. The study can offer retailers a more comprehensive understanding of consumers' perceived value of MBG in various situations and thereby suggest some management implications for the MBG pricing issue.

The purpose of this paper is to examine the factors that play a decisive role in determining growth strategies implemented by the hotel chains of the Balearic Islands in the Caribbean and Gulf of Mexico.

In line with most research on the choice of entry mode, the dependent variable is a categorical one. Given the nature of the dependent variable, logistic regression (or logit) models were used to verify the hypotheses. Since there were more than two categories involved, a multinomial logit model was applied.

The main findings show that the choice of foreign market entry mode cannot rely solely on host‐specific factors. Moreover, this study facilitates a comparison of the results of this paper and the results of other similar studies of the international hotel industry.

This paper offers several contributions. First, it is a new contribution to the understanding of the factors that determine the behavior of hotel chains in their international expansion. Although this study has been done in other sectors (industrial), it is a novelty in the field of hospitality and, more specifically, in the hotel chains. In addition, new specific, strategic and control factors have been incorporated to help improve the explanation of the study object. Finally, the paper focuses on an important international market, such as the Caribbean and Gulf of Mexico.