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Prof.Dr. J.T.J. Smit

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Han Smit

Prof.Dr. J.T.J. Smit

Professor of Corporate Finance

Department of Business Economics

Erasmus School of Economics

Erasmus University Rotterdam

 

T: 010-4082623

T: 010-4081285

E: jsmit@remove-this.ese.eur.nl

Room: H14-17

Personal website: http://people.few.eur.nl/jsmit/


 

Profile

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Professional experience

Full Professor
University Erasmus University Rotterdam
School Erasmus School of Economics
Department Business Economics
Country The Netherlands
   

Research

Han Smit is a corporate professor of Finance at the Department of Business Economics, Erasmus School of Economics (ESE).

His research in the areas of private equity, real options valuation, competition and strategy has been widely published in leading academic and practitioner journals. He is co-author of a book Strategic Investment: Real Options and Games published by Princeton University Press.

Professor Smit has been a visiting fellow at Harvard University, Columbia University, UC at Berkeley, Boston University, and fellow at the Netherlands Institute of Arts and Sciences (NIAS).

Publications

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  • Smit, J.T.J. & Moraitis, T. (2014). Playing at Serial Acquisitions. Princeton: Princeton University Press.
  • Smit, J.T.J. & Moraitis, T. (2013). Valuation of Minority Stakes: The Falconbridge Episode.
  • Smit, J.T.J. & Kil, J.C.M. (2013). Behavioural Real Options: Uncertainty Neglect in Acquisition Decisions.
  • Smit, J.T.J. & Trigeorgis, L. (2013). Strategic Investment Value Under Different Information Structures: Learning, Technical Uncertainty and Asymmetric Information.
  • Smit, J.T.J., Trigeorgis, L. & Haanappel, H.T. (2013). Path Dependency of Strategic Joint Ventures.
  • Dai, Y., Gryglewicz, S., Smit, J.T.J. & De Maeseneire, W. (2013). Similar Bidders in Takeover Contests. Games and Economic Behavior, 82, 544-561.
  • Smit, J.T.J. & Lovallo, D. (2013). How to Debias Your Valuation over the Cycle.
  • Smit, J.T.J. (2013). Conditions for Buy and Build Acquisitions.
  • Bekkum, S. van, Smit, J.T.J. & Pennings, E. (2011). Buy Smart, Time Smart: Are Takeovers Driven by Growth Options or Mispricing? Financial Management - FM, 40(4), 911-940.
  • Smit, J.T.J. & Moraitis, T. (2010). Strategic Options in Serial Acquisitions. Long Range Planning, 43(1), 85-103.
  • Smit, J.T.J. & Moraitis, T. (2010). Playing at Serial Acquisitions. California Management Review, 53(1), 56-89.
  • Smit, J.T.J. & Trigeorgis, L. (2010). Flexibility and Games in Strategic Investment. Multinational Finance Journal, 14(1/2), 125-151.
  • Bekkum, S. van, Pennings, H.P.G. & Smit, J.T.J. (2009). A Real Options Perspective on R&D Portfolio Diversification. Research Policy, 38(7), 1150-1158.
  • Smit, J.T.J. & Trigeorgis, L.T. (2009). Valuing Infrastructure Investment:An Option Games Approach. California Management Review, 51(2), 21-39.
  • Smit, J.T.J. & Moraitis, T. (2007). Resource Accumulation Strategies.
  • Smit, J.T.J. & Trigeorgis, L.T. (2007). Strategic Options and Games in Analysing Dynamic Technology Investments. Long Range Planning, 40(1), 84-114.
  • Smit, J.T.J. & Trigeorgis, L.T. (2007). R&D Option Strategies. 3000 DR Rotterdam: ERIM.
  • Smit, J.T.J. & Haanappel, H.T. (2007). Return Distributions of Stategic Growth Options. Annals of Operations Research, 151, 57-80.
  • Smit, J.T.J. & Trigeorgis, L.T. (2007). Flexibility and Commitment in Strategic Investment. 3000 DR Rotterdam: TINBERGEN INSTITUUT.
  • Smit, J.T.J. & Moraitis, T. (2007). Serial Aquisitions as Option Games. 3000 DR Rotterdam: ERIM.
  • Smit, J.T.J. & Berg, W.A. van den (2007). Private Equity Waves. onbekend: Rotterdam School of Management.
  • Smit, J.T.J., Berg, W.A. van den & Maeseneire, W. De (2007). Acquisitions as a Bidding Game. onbekend: Rotterdam School of Management.
  • Smit, J.T.J. & Berg, W.A. van den (2007). Consolidation Waves. 3000 DR Rotterdam: TINBERGEN INSTITUUT.
  • Smit, J.T.J. & Berg, W.A. van den (2007). De Private Equity Golf. MAB, 2007(juli/augustus), 303-311.
  • Smit, J.T.J. & Trigeorgis, L. (2007). Overview of Option Games.
  • Smit, J.T.J. (2007). Expansion when Investment is Indivisible. 3000 DR Rotterdam: ERIM.
  • Smit, J.T.J. & Trigeorgis, L. (2007). Flexibility and Games in Strategic Planning.
  • Smit, J.T.J. & Maeseneire, W. De (2006). The Role of Ivestors Capabilities in Public-to-Private Transactions".
  • Smit, J.T.J. & Trigeorgis, L.T. (2006). Strategic Planning: Valuing and Managing Portfolios of Real Options. R and D Management, 36(4), 403-420.
  • Smit, J.T.J. (2006). Path dependency of Strategic Joint Ventures.
  • Smit, J.T.J. & Berg, W.A. van den (2006). Private Equity Waves.
  • Smit, J.T.J., Berg, W.A. van den & Maeseneire, W. De (2006). Acquisitions as a Bidding Game.
  • Smit, J.T.J. & Berg, W.A. van den (2006). Sequential Consolidation Strategies.
  • Smit, J.T.J. & Trigeorgis, L.T. (2006). Real options and games: Competition, aliances and other applications of valuation and strategy. Review of Financial Economics, 15(2), 95-112.
  • Smit, J.T.J. & Trigeorgis, L.T. (2004). Flexibility and Commitment in Strategic Investments.
  • Smit, J.T.J. (2004). Waarde en ontwikkeling van buyouts. MAB, 78(1/2), 32-41.
  • Smit, J.T.J., Berg, W.A. van den & Maeseneire, W. De (2004). "Private Equity". Management Executive, 2(6), 12-15.
  • Smit, J.T.J. & Trigeorgis, L.T. (2004). Strategic Investment: Real Options and Games. Princeton: Princeton University Press.
  • Smit, J.T.J. & Trigeorgis, L. (2004). Real Options: Examples and Principles of Valuation and Strategy.
  • Smit, J.T.J. & Trigeorgis, L.T. (2003). Real options: principles of valuation and strategy. In J.A. McCahery & L. Renneboog (Eds.), Venture capital contracting and the valuation of high technology firms (pp. 227-250). New York: Oxford University Press Inc..
  • Smit, J.T.J. (2003). Infrastructure investment as a real options game: the case of European airport expansion. Financial Management - FM, 32(4), 27-57.
  • Smit, J.T.J. (2002). The economics of private equity (Erasmus Research Institute of Management, EIA-12-F&A). Rotterdam: ERIM Inaugural Addresses Research in Management Series.
  • Smit, J.T.J. (2001). Pathdependency of Strategic Joint Ventures.
  • Smit, J.T.J. & Trigeorgis, L.T. (2001). Flexibility and commitment in strategic investments. In E.S. Schwartz & L. Trigeorgis (Eds.), Real options and investment under uncertainty: classical readings and recent contributions (pp. 451-498). Cambridge: MIT Press.
  • Smit, J.T.J. (2001). Acquisition strategies as option games. Journal of Applied Corporate Finance, 14(2), 79-89.
  • Smit, J.T.J. & Ankum, L.A. (2000). "Approach to Corporate Investment Strategy under Competition, " Game Choices: The Intersection of Real Options and Game Theory (Risk Books). Londen: S.R. Grenadier.
  • Smit, J.T.J. & Ankum, L.A. (2000). A real option and a game theoretic approach to corporate investment strategy under competition. In S. Grenadier Risk (Ed.), Game choices the intersection of real options game theory (pp. 21-40). London: Risk Books.
  • Smit, J.T.J. & Trigeorgis, L. (2000). Growth options, competition and strategy: an answer to the market valuation puzzle? In L. Trigeorgis (Ed.), Real options and business strategy applications to decision making (pp. 21-39). London: Risk Books.
  • Smit, J.T.J. (1999). The valuation of offshore concessions in the Netherlands. In A. Micalizzi & L. Trigeorgis (Eds.), Real options (pp. 179-217). Milan: Egea Sda Bocconi.
  • Smit, J.T.J. & Trigeorgis, L.T. (1999). Flexibility, strategic options and dynamic competition in technology industries. In A. Micalizzi & L. Trigeorgis (Eds.), Real options (pp. 31-66). Milan: Egea Sda Bocconi.
  • Smit, J.T.J. (1999). The Valuation of Offshore Concessions in the Netherlands. In A Micalizzi & L Trigeorgis (Eds.), Real Options (pp. 3-3.5). Milaan: Egea Sda Bocconi.
  • Smit, J.T.J. (1999). Flexibility, Strategic Options and Dynamic Competitions in Technology Industries. In Real Options. Milaan: Egea Sda Bocconi.
  • Smit, J.T.J. & Trigeorgis, L. (1999). Flexibility, strategic options and dynamic competition in technology industries. In A. Micalizzi & L. Trigeorgis (Eds.), Real options (pp. 31-67). Milan: Egea Sda Bocconi.
  • Smit, J.T.J. (1997). Investment analysis of offshore concessions in the Netherlands. Financial Management - FM, 26(2), 5-17.
  • Smit, J.T.J. (1997). Groeimogelijkheden en concurrentiedynamiek. Quintessence van Meeting & Management, 1(3), 32-33.
  • Smink, M., Smit, J.T.J. & Vorst, A.C.F. (Eds.). (1996). Financiering en Belegging. Rotterdam: Capaciteitsgroep Accounting & Finance.
  • Smit, J.T.J., Boonekamp, P.G.M. & Ybema, J.R. (1995). Including climate change in energy investment decisions. (ECN-C--95 073). Petten: .
  • Smit, J.T.J. & Trigeorgis, L. (1995). Flexibility and competitive R&D strategies. : .
  • Smit, J.T.J. (1994). The flexibility value of strategic investments under competition. In @ Gosh (Ed.), New directions in finance. @: Omega Scientific.
  • Trigeorgis, L.T., Brosch, R. & Smit, J.T.J. (2007, September 15). The Journal report: Business Insight Strategy: Stay Loose. The Wall Street Journal, pp. R4.
  • Smit, J.T.J. (periode: 2007 t/m 2007). Expert in hoorzitting Private Equity Functie bij : Tweede Kamer.
  • Maeseneire, W. De, Smit, J.T.J. & Berg, W.A. van den (2005). De markt voor Private Equity. Finance en Control, April, 15-17.
  • Smit, J.T.J., Dai, Y. & Gryglewicz, S. (2013). The Learning Effect in Acquisitions with Toeholds.
  • Smit, J.T.J., Bekkum, S. van & Pennings, H.P.G. (2013). Institutional Infrastructure: How Institutions Generate and Protect Growth Option Value.
  • Smit, J.T.J., Gryglewicz, S. & Huang, T. (2013). The Negotiation Penalty in Corporate Takeovers.
  • Volosovych, V. & Smit, H. (2013). Secondary Buyout Waves.
  • Smit, J.T.J. & Kil, J.C.M. (2013). Real Options in Acquisitions: Effects of Acquisition Type and Competition on Premiums.
  • Smit, J.T.J. (,). Infrastructure Investment as a Real Options Game: the Case of European Airport Expansion. Montreal, CIRANO Real Options Conference.
  • Smit, J.T.J. (,). Acquisitions as a Real Options Bidding Game. Puerto Rico, Congres Strategic Management Assocation.
  • Smit, J.T.J. (,). Infrastructure Investment as a Real Options Game: the Case of European Airport Expansion. Glasgow, European Finance Association.
  • Smit, J.T.J. (,). "Infrastructure Investment as a Real Options Game: the Case of European Airport Expansion". Washington, University of Washington Real Options Conference.
  • Smit, J.T.J. (,). R&D Options. Los Angeles, UCLA Real Options Conference.
  • Smit, J.T.J. (,). "Valuation of Growth Opportunities". Tilburg, TIAS Business School Venture Capital Conference.
  • Smit, J.T.J. (,). Empirical Characteristics of Growth Options. Cambridge, Cambridge University Real Options Conference.
  • Smit, J.T.J. (1996, September 04). Growth options and strategy analysis. University of Amsterdam (211 pag.). Prom./coprom.: Prof.Dr. L.A. Ankum & Prof.Dr. L.T. Trigeorgis.