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Academic staff - Erasmus School of Economics

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

 

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


 

Profile

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Professional experience

Present position
Full Professor
University Erasmus University Rotterdam
School Erasmus School of Economics
Department Business Economics
   
Other position

Research

Han T.J. Smit is HAL Professor of Private Equity at Erasmus University in Rotterdam. He has also been a visiting fellow at Harvard University, Columbia University and Boston University, and a fellow at NIAS (Netherlands Institute of Arts and Sciences). The work of Dr. Smit is focused on private equity and valuation. He has published widely in international journals on valuation, competition and strategy. His new book entitled “Strategy: Options and Games” is forthcoming with Princeton University Press. The chair in Private Equity is created to support an educational program and research in Private Equity at Erasmus University Rotterdam. The chair and a Ph.D. position are financed by HAL investments. HAL (Holland Amerika Lijn) roots date back to April 18, 1873, when the Nederlandsch-Amerikaansche Stoomvaart-Maatschappij (N.A.S.M.) was founded in Rotterdam, the Netherlands. Nowadays, HAL acts as an investment company.

Financial Economics & Accounting
Role Member
 

Publications

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Scholarly publications (60)
  • Smit, J.T.J. & Moraitis, T. (2013). Playing at Serial Acquisitions. Princeton: Princeton University Press.
  • Dai, Y., Gryglewicz, S. & Smit, J.T.J. (2011). Presentation at the Experimental Finance 2011 conference. the Experimental Finance 2011 conference: Innsbruck, Austria (2011, september 22 - 2011, september 24).
  • Dai, Y., Smit, J.T.J. & Gryglewicz, S. (2011). presentation at PhD Brown Bag seminar. PhD Brown Bag seminar: Duisenberg School of Finance, Amsterdam, the Netherlands (2011, februari 08 - 2011, februari 08).
  • Dai, Y., Smit, J.T.J. & Gryglewicz, S. (2011). Similar Bidders in Takeover Contests. working paper: SSRN.
  • Dai, Y., Gryglewicz, S. & Smit, J.T.J. (2011). presentation at ESA 2011 international conference. ESA 2011 interantional conference: Chicago, US (2011, juli 07 - 2011, juli 10).
  • Huang, T., Smit, J.T.J. & Gryglewicz, S. (2011). Mergers as Options.
  • Dai, Y., Smit, H. & Gryglewicz, S. (2011). Similar Bidders in Takeover Contests.
  • Bekkum, S. van, Smit, J.T.J. & Pennings, E. (2011). Buy Smart, Time Smart: Are Takeovers Driven by Growth Options or Mispricing? Financial Management, 40(4), 911-940.
  • Smit, J.T.J. & Moraitis, T. (2010). Strategic Options in Serial Acquisitions. Long Range Planning, 43(1), 85-103.
  • Dai, Y., Gryglewicz, S. & Smit, J.T.J. (2010). Presentation at the 2010 on Experimental Economics and Finance. the 2010 Workshop on Experimental Economics and Finance: WISE, Xiamen University, Xiamen, China (2010, december 15 - 2010, december 16).
  • Dai, Y., Smit, J.T.J. & Gryglewicz, S. (2010). Presentation at PhD seminar in Tinbergen Institute. PhD seminar in Tinbergen Institute: Rotterdam, the Netherlands (2010, december 02 - 2010, december 02).
  • Smit, J.T.J. & Trigeorgis, L. (2010). Flexibility and Games in Strategic Investment. Multinational Finance Journal, 14(1/2), 125-151.
  • Smit, J.T.J. & Moraitis, T. (2010). Playing at Serial Acquisitions. California Management Review, 53(1), 56-89.
  • 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., 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). Private Equity Waves. onbekend: Rotterdam School of Management.
  • Smit, J.T.J. (2007). Expansion when Investment is Indivisible. 3000 DR Rotterdam: ERIM.
  • Smit, J.T.J. & Trigeorgis, L. (). Flexibility and Games in Strategic Planning.
  • Smit, J.T.J. & Moraitis, T. (2007). Serial Aquisitions as Option Games. 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. & Trigeorgis, L. (). Overview of Option Games.
  • 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. & Berg, W.A. van den (2007). Consolidation Waves. 3000 DR Rotterdam: TINBERGEN INSTITUUT.
  • Smit, J.T.J. & Moraitis, T. (). Resource Accumulation Strategies.
  • Smit, J.T.J. & Berg, W.A. van den (2007). De Private Equity Golf. MAB, 2007(juli/augustus), 303-311.
  • Smit, J.T.J. & Maeseneire, W. De (). 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. (). Path dependency of Strategic Joint Ventures.
  • Smit, J.T.J. & Berg, W.A. van den (). Private Equity Waves.
  • Smit, J.T.J., Berg, W.A. van den & Maeseneire, W. De (). Acquisitions as a Bidding Game.
  • Smit, J.T.J. & Berg, W.A. van den (). 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. (). 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. (). 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, 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. (). 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, 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--95073 ). 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.
Professional publications (3)
  • Trigeorgis, L.T., Brosch, R. & Smit, J.T.J. (15-09-2007). 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.
Other output (7)
  • 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. (,). Empirical Characteristics of Growth Options. Cambridge, Cambridge University Real Options Conference.
  • Smit, J.T.J. (,). "Valuation of Growth Opportunities". Tilburg, TIAS Business School Venture Capital Conference.
Doctoral thesis (1)
  • 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.