الخيارات الحقيقية : خلق القيمة و المرونة

الملخص EN

This study aims to clarify the role of real options in valuation and value creation.

The problem is discussed within the framework of convergence between financial theory, organizations theory and the corporate strategy.

We focused on the role of managerial flexibility, which arises when making decisions through the real options theory; in value creation in the portfolio of investment projects.

A consensus can be created between the objectives of maximizing market value and maximizing economic value if managerial flexibility is appreciated.