The influence of R&D investment on the use of corporate venture capital: An industry-level analysis
We consider how internal research and development (R&D) influences the use of corporate venture capital (CVC) and how this relationship varies across industries. We find that, in general, R&D investments increase the number of CVC deals in an industry. We also find that R&D investment has a particularly strong influence on the use of CVC in industries that are growing rapidly and changing technologically. Our analysis provides greater clarity on the relationships involving R&D and CVC in the presence of contingencies by integrating insights of absorptive capacity and real options reasoning.
Year of publication: |
2010
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Authors: | Sahaym, Arvin ; Steensma, H. Kevin ; Barden, Jeffrey Q. |
Published in: |
Journal of Business Venturing. - Elsevier, ISSN 0883-9026. - Vol. 25.2010, 4, p. 376-388
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Publisher: |
Elsevier |
Keywords: | Absorptive capacity R& D Options CVC Exploration |
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