基于实物期权的金融企业共享服务转型

用实物期权方法探讨金融企业最优组织模式，发现金融企业共享服务的最优槛值是金融企业不确定性的递增函数。触及槛值后，不确定性的增加会引致更高的共享服务生产比例。本文将实物期权概念引入不确定环境中金融服务组织及其转型的理论框架，将服务组织视为给金融企业带来获取未来转型机会优先渠道的战略性实物期权，提出对共享服务期权进行分类的方法，并引入对不同共享服务转型进行估值的决策方法论。

Finance Firm Shared Service Transformation Based on Real Option

This paper constructs an optimal organization mode of firm and discovers that the optimal threshold value is an increasing function of market uncertainty.The increase of market uncertainty induces an higher proportion of shared service production.Further,we develop the notion of real options into a unique theoretical lens for conceptualizing service organizations and their transformation in an uncertain business environment.We create a taxonomy of these op-tions,and introduce a decision methodology for valuing alternative shared services transformation approaches.