| Many strategic alliances have been established between China’s dairy processing enterprises and their upstream raw milk supplying enterprises for the safety and supply of raw milk. But many uncertainties such as the quality, price, and volume of raw milk would have impact on the cooperation of alliances. And this paper tries to identify these uncertainties, analyze their risks and provide a control mechanism of these risks by applying the real option method. Then China’s dairy data are verified by Monte Carlo simulation. At last, some constructive suggestions about how to control dairy alliance’s risk are put forth according to our study conclusions. The paper is divided into four parts:The first chapter is introduction, the paper points out that the research background, the present situation, the purpose and meaning, and review literature about the strategic alliances and real option theory.The second chapter is the basic theoretical framework, according to the thought of this paper, namely through analyzing strategic alliance control theory and our country’s present situation of dairy strategic alliance, choosing a more effective control way--contract control, and using the real options analysis thought and the monte-carlo simulation to calculate value of contract terms. This part review the basic theory about strategic alliance control, real option analysis, the monte-carlo simulation, making a solid theoretical foundation for the following research.The third chapter is based on the analysis methods of the option contract design strategic alliance. The third chapter is based on the option analysis methods to design strategic alliance contract. This part is based on the above two parts and some assumption, through designing the contract terms of the strategic alliance to do monte-carlo simulation of our country’s dairy strategic alliance.The fourth chapter is the conclusion of this paper. It summarizes the main research contents and achievement. |
PDF Full Text Request