Timothy Luehrman

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Timothy A. Luehrman is a finance academic, formerly a Senior Lecturer at Harvard Business School.[1] He is best known for his work on valuation and real options; specifically, he conceived the idea of treating business strategy as a series of options,[2] and his papers here[3][4] are widely quoted.

His research focuses on international corporate finance, advanced valuation techniques, and long-horizon financial management. He has published numerous books, research articles and case studies for both scholars and practitioners.[1]

He has held appointments at the MIT Sloan School of Management, IMD and the Thunderbird School of Global Management. He was also a Managing Director at Standard & Poor’s Corporate Value Consulting division and a partner at PricewaterhouseCoopers. During 2003-2004 he was a member of the Financial Accounting Standards Board’s Option Valuation Group.[1]

He received his B.A. in Economics from Amherst College (1979), MBA from Harvard Business School (1983), and Ph.D. in Business economics from the Harvard Graduate School of Arts and Sciences (1986).[1]


  1. ^ a b c d "Timothy A. Luehrman: Biography". Harvard Business School. Archived from the original on November 1, 2007.
  2. ^ Luehrman, T., “Strategy as a Portfolio of Real Options,” Harvard Business Review, 76 (5), 1998, pp. 89-99.
  3. ^ "Strategy as a Portfolio of Real Options". Retrieved 4 March 2016.
  4. ^ "Investment Opportunities as Real Options: Getting Started on the Numbers". Retrieved 4 March 2016.