Prof. dr. J.T.J. (Han) Smit

Erasmus School of Economics (ESE)
Erasmus University Rotterdam
Member ERIM
Field: Finance & Accounting
Affiliated since 1999

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

  • Academic (23)
    • Dai, Y., Gryglewicz, S., & Smit, H. (2021). Less Popular But More Effective Toeholds in Corporate Takeovers. Journal of Financial and Quantitative Analysis, 56(1), 283-312. https://doi.org/10.1017/S0022109019001029

    • Smit, H., & Trigeorgis, L. (2017). Strategic NPV: Real options and strategic games under different information structures. Strategic Management Journal, 38(13), 2444-2464. https://doi.org/10.1002/smj.2665

    • Smit, H., Pennings, E., & Bekkum, S. (2017). Real Options and Institutions. Journal of International Business Studies, 48(5), 620-644. https://doi.org/10.1057/s41267-016-0055-7

    • Smit, H., & Kil, J. (2017). Toehold acquisitions as behavioral real options. California Management Review, 59(3), 42-73. https://doi.org/10.1177/0008125617712255

    • Smit, H., & Lovallo, D. (2014). Creating More Accurate Acquisition Valuations. MIT Sloan Management Review, 56(1), 63-71.

    • Dai, Y., Gryglewicz, S., Smit, H., & De Maeseneire, W. (2013). Similar Bidders in Takeover Contests. Games and Economic Behavior, 82, 544-561. https://doi.org/10.1016/j.geb.2013.08.010

    • Bekkum, S., Smit, H., & Pennings, E. (2011). Buy Smart, Time Smart: Are Takeovers Driven by Growth Options or Mispricing? Financial Management - FM, 40(4), 911-940. https://doi.org/10.1111/j.1755-053X.2011.01166.x

    • Smit, H., & Moraitis, T. (2010). Strategic Options in Serial Acquisitions. Long Range Planning, 43(1), 85-103. https://doi.org/10.1016/j.lrp.2009.10.001

    • Smit, H., & Trigeorgis, L. (2010). Flexibility and Games in Strategic Investment. Multinational Finance Journal, 14(1/2), 125-151.

    • Smit, H., & Moraitis, T. (2010). Playing at Serial Acquisitions. California Management Review, 53(1), 56-89. https://doi.org/10.1525/cmr.2010.53.1.56

    • Smit, H., & Trigeorgis, LT. (2009). Valuing Infrastructure Investment:An Option Games Approach. California Management Review, 51(2), 21-39. https://doi.org/10.2307/41166481

    • Bekkum, S., Pennings, E., & Smit, H. (2009). A Real Options Perspective on R&D Portfolio Diversification. Research Policy, 38(7), 1150-1158. https://doi.org/10.1016/j.respol.2009.03.009

    • Smit, H., & van den Berg, WA. (2007). De Private Equity Golf. MAB, 2007(juli/augustus), 303-311.

    • Smit, H., & Trigeorgis, LT. (2007). Strategic Options and Games in Analysing Dynamic Technology Investments. Long Range Planning, 40(1), 84-114. https://doi.org/10.1016/j.lrp.2007.02.005

    • Smit, H., & Haanappel, H. (2007). Return Distributions of Stategic Growth Options. Annals of Operations Research, 151, 57-80. https://doi.org/10.1007/s10479-006-0130-8

    • Smit, H., & Trigeorgis, LT. (2006). Real options and games: Competition, aliances and other applications of valuation and strategy. Review of Financial Economics, 15(2), 95-112. https://doi.org/10.1016/j.rfe.2005.12.001

    • Smit, H., & Trigeorgis, LT. (2006). Strategic Planning: Valuing and Managing Portfolios of Real Options. R and D Management, 36(4), 403-420. https://doi.org/10.1111/j.1467-9310.2006.00440.x

    • Smit, H., van den Berg, WA., & De Maeseneire, W. W. (2004). "Private Equity". Management Executive, 2(6), 12-15.

    • Smit, H. (2004). Waarde en ontwikkeling van buyouts. MAB, 78(1/2), 32-41.

    • Smit, H. (2003). Infrastructure investment as a real options game: the case of European airport expansion. Financial Management - FM, 32(4), 27-57.

    • Smit, H. (2001). Acquisition strategies as option games. Journal of Applied Corporate Finance, 14(2), 79-89.

    • Smit, H. (1997). Groeimogelijkheden en concurrentiedynamiek. Quintessence van Meeting & Management, 1(3), 32-33.

    • Smit, H. (1997). Investment analysis of offshore concessions in the Netherlands. Financial Management - FM, 26(2), 5-17.

  • Professional (2)
    • Trigeorgis, LT., Brosch, R., & Smit, H. (2007). The Journal report: Business Insight Strategy: Stay Loose. The Wall Street Journal, R4.

    • De Maeseneire, W. W., Smit, H., & van den Berg, WA. (2005). De markt voor Private Equity. Finance en Control, April, 15-17.

  • Academic (3)
    • Smit, H., & Moraitis, T. (2015). Playing at Serial Acquisitions. Princeton University Press.

    • Smit, H., & Trigeorgis, LT. (2004). Strategic Investment: Real Options and Games. Princeton University Press. http://hdl.handle.net/1765/12234

    • Smit, H. (2002). The economics of private equity. (Erasmus Research Institute of Management EIA-12-F&A ed.) ERIM Inaugural Addresses Research in Management Series. Erasmus Research Institute of Management Vol. EIA-12-F&A

  • Academic (10)
    • Smit, H., & Trigeorgis, LT. (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). Oxford University Press Inc..

    • Smit, H., & Trigeorgis, LT. (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). MIT Press.

    • Smit, H., & 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). RISK Books.

    • Smit, H., & Ankum, LA. (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). RISK Books.

    • Smit, H., & Ankum, LA. (2000). A Real Options and Game-Theoretic Approach to Corporate Investment Strategy under Competition. In S. Grenadier (Ed.), Game Choices: The Intersection of Real Options and Game Theory (pp. 21-40). S.R. Grenadier. Risk Books

    • Smit, H. (1999). The valuation of offshore concessions in the Netherlands. In A. Micalizzi, & L. Trigeorgis (Eds.), Real options (pp. 179-217). Egea Sda Bocconi.

    • Smit, H. (1999). Flexibility, Strategic Options and Dynamic Competitions in Technology Industries. In Real Options Egea Sda Bocconi.

    • Smit, H. (1999). The Valuation of Offshore Concessions in the Netherlands. In A. Micalizzi, & L. Trigeorgis (Eds.), Real Options (pp. 3-3.5). Egea Sda Bocconi.

    • Smit, H., & Trigeorgis, L. (1999). Flexibility, strategic options and dynamic competition in technology industries. In A. Micalizzi, & L. Trigeorgis (Eds.), Real options (pp. 31-67). Egea Sda Bocconi.

    • Smit, H. (1994). The flexibility value of strategic investments under competition. In . Gosh (Ed.), New directions in finance Omega Scientific.

  • Academic (15)
    • Smit, H., Kil, J., & Verwijmeren, P. (2015). Premiums paid in acquisition sequences: A real options perspective.

    • Smit, H., Moraitis, T., & Lovallo, D. (2015). Valuation with Behavioral Option Games.

    • Smit, H., & Trigeorgis, L. (2015). Strategic Joint Ventures.

    • Smit, H., & Bansraj, D. (2015). Conditions for Buy and Build Acquisitions.

    • Smit, H., & Trigeorgis, L. (2007). Flexibility and Games in Strategic Planning.

    • Smit, H., & Moraitis, T. (2007). Resource Accumulation Strategies.

    • Smit, H., & Trigeorgis, L. (2007). Overview of Option Games.

    • Smit, H., & van den Berg, WA. (2006). Sequential Consolidation Strategies.

    • Smit, H., & van den Berg, WA. (2006). Private Equity Waves.

    • Smit, H., van den Berg, WA., & De Maeseneire, W. W. (2006). Acquisitions as a Bidding Game.

    • Smit, H. (2006). Path dependency of Strategic Joint Ventures.

    • Smit, H., & De Maeseneire, W. W. (2006). The Role of Ivestors Capabilities in Public-to-Private Transactions".

    • Smit, H., & Trigeorgis, L. (2004). Real Options: Examples and Principles of Valuation and Strategy.

    • Smit, H., & Trigeorgis, LT. (2004). Flexibility and Commitment in Strategic Investments.

    • Smit, H. (2001). Path dependency of Strategic Joint Ventures.

  • Academic (9)
    • Smit, H., van den Berg, WA., & De Maeseneire, W. W. (2007). Acquisitions as a Bidding Game. Rotterdam School of Management.

    • Smit, H., & Moraitis, T. (2007). Serial Aquisitions as Option Games. ERIM.

    • Smit, H., & Trigeorgis, LT. (2007). Flexibility and Commitment in Strategic Investment. TINBERGEN INSTITUUT.

    • Smit, H., & Trigeorgis, LT. (2007). R&D Option Strategies. ERIM.

    • Smit, H. (2007). Expansion when Investment is Indivisible. ERIM.

    • Smit, H., & van den Berg, WA. (2007). Consolidation Waves. TINBERGEN INSTITUUT.

    • Smit, H., & van den Berg, WA. (2007). Private Equity Waves. Rotterdam School of Management.

    • Smit, H., & Trigeorgis, L. (1995). Flexibility and competitive R&D strategies.

    • Smit, H., Boonekamp, PGM., & Ybema, JR. (1995). Including climate change in energy investment decisions. (ECN-C--95 073 ed.). ECN-C--95 Vol. 073

  • Role: Promotor
  • PhD Candidate: Wouter de Maeseneire
  • Time frame: 2002 - 2005
  • Role: Member Doctoral Committee
  • PhD Candidate: Pim van Vliet
  • Time frame: 2000 - 2004
  • Role: Promotor
  • PhD Candidate: Joris Kil
  • Time frame: 2009 - 2013
  • Role: Member Doctoral Committee
  • PhD Candidate: Justinas Brazys
  • Time frame: 2011 - 2015
  • Role: Promotor
  • PhD Candidate: Dyaran Bansraj
  • Time frame: 2015 - 2020
  • Role: Promotor
  • PhD Candidate: Nishad Matawlie
  • Time frame: 2015 - 2020
  • Role: Promotor
  • PhD Candidate: Cristian Stet
  • Time frame: 2017 -
  • Role: Promotor
  • PhD Candidate: Renee Spigt
  • Time frame: 2019 -
2014
June
06
Research Workshop
As: Coordinator
2011
April
04
ERIM Research Clinic
As: Speaker
2010
April
12
ERIM Research Clinic
As: Speaker

Address

Visiting address

Office: Tinbergen Building H14-17
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands