2026-09-22T19:47:28Z https://www.ideals.illinois.edu/oai-pmh

oai:www.ideals.illinois.edu:2142/127374 2026-02-03 col_2142_5131 col_2142_14791 com_2142_5130 com_2142_14790 com_2142_9216

application/pdf en text Submission published under a 24 month embargo labeled 'U of I Access', the embargo will last until 2026-12-01 The student, Hyewon Ma, accepted the attached license on 2024-11-27 at 15:02. The student, Hyewon Ma, submitted this Dissertation for approval on 2024-11-27 at 15:22. This Dissertation was approved for publication on 2024-12-05 at 17:26. DSpace SAF Submission Ingestion Package generated from Vireo submission #21416 on 2025-03-28 at 14:43:30 Real options theory and the value of strategic flexibility for MNEs Ma, Hyewon 2024-12-05 Clougherty, Joseph A Clougherty, Joseph A Mahoney, Joseph T Yao, Fiona Kun Tong, Tony W Trade War Multinational Enterprises Global Strategy Strategic Flexibility Real Options Theory Geopolitical Uncertainty eng This dissertation explores how multinational enterprises (MNEs) pursue and leverage strategic flexibility in uncertain global environments through the lens of real options theory. It comprises three chapters, each addressing different aspects of MNE strategic responses. The first chapter analyzes MNE behavior during trade wars, focusing on involved-country MNEs and how multinationality fosters operational flexibility and strategic agility when facing trade policy shocks. The second chapter shifts attention to the adaptive strategies employed by third-country MNEs to capture potential positive spillover effects. The final chapter investigates the formation of real options in cross-border acquisitions, with a particular emphasis on the role of behavioral motivations in shaping MNE strategies. Collectively, this research contributes to the international business field by assessing the value of strategic flexibility, extending the application of real options theory to the context of trade uncertainties, and incorporating behavioral perspectives into MNE decision-making. This approach offers a comprehensive view of how MNEs navigate complex and dynamic global challenges. 2024-12 Thesis https://hdl.handle.net/2142/127374 Copyright 2024 Hyewon Ma Business Administration Business Administration University of Illinois at Urbana-Champaign Ph.D. Dissertation