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Strategic objectives of corporate venture capital as a tool for open innovation
Pinkow, Felix; Iversen, Jasper - In: Journal of Open Innovation: Technology, Market, and … 6 (2020) 4, pp. 1-21
open innovation to assimilate external knowledge is corporate venture capital (CVC), meaning minority investments in … entrepreneurial ventures by incumbent firms, whereby the objectives of CVC investments might be purely financial or may pursue … strategic goals. CVC has been identified as a possible approach to ambidexterity, since investments in new ventures can allow to …
Persistent link: https://www.econbiz.de/10012620466
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A Note on Venture Capital Networks: Promise and Performance
Brown, Donald J.; Stowe, Charles R. B. - In: Journal of Small Business Finance 1 (1991) 1, pp. 75-87
Since 1984 Informal Venture Networks (VCNs) have been formed and are currently operating in several states and Canada. However, little has been written in regard to the performance of these networks. This article presents the results of preliminary research concerning their performance. Our...
Persistent link: https://www.econbiz.de/10011310291
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The Impact of Venture Capital on Innovation Behaviour and Firm Growth
Peneder, Michael - 2010
Proposing a novel research design for firm-level impact studies, I investigate the effects of venture capital financing on corporate performance by applying a two-stage propensity score matching on Austrian micro-data. Controlling for differences in industry, location, legal status, size, age,...
Persistent link: https://www.econbiz.de/10011435304
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Venture Capital in Europe's Common Market: A Quantitative Description
Schertler, Andrea - 2001
This paper offers a quantitative description of European private equity markets and compares the recent development in these markets with the development of the US venture capital market. Moreover, the paper addresses the differences between private equity investors acting in a single national...
Persistent link: https://www.econbiz.de/10010260558
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Are particular industries more likely to succeed? A comparative analysis of VC investment in the US and Europe
Kraeussl, Roman; Krause, Stefan - 2010
The objective of this study is to determine whether specific industries across countries or within countries are more likely to reach a stage of profitability and make a successful exit. In particular, we assess whether firms in certain industries are more prone to exit via IPO, be acquired, or...
Persistent link: https://www.econbiz.de/10010303725
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Does Finance Bolster Superstar Companies? Banks, Venture Capital, and Firm Size in Local U.S. Markets
Popov, Alexander - 2009
We study the relative effect of venture capital and bank finance on large manufacturing firms in local U.S. markets. Theory predicts that with venture capital, the firm size distribution should become more stretched-out to the right, but it’s ambiguous on the effect of banks on large firms....
Persistent link: https://www.econbiz.de/10011605167
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Institutions and Venture Capital
Lerner, Josh; Tåg, Joacim - 2012
We survey the literature on venture capital and institutions and present a case study comparing the development of the venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market development, the tax system, labor market regulations,...
Persistent link: https://www.econbiz.de/10010320253
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The Corporate Venture Capital Exit Decision
Maxin, Hannes - 2018
(IVC) or a corporate venture capital firm (CVC) to develop an innovative product. In case of success, the entrepreneur … enters a market and competes with an incumbent. The CVC is a subsidiary of an input producer. This input will be required by …) Trade Sale via incumbent and (3) Trade Sale via input producer. I show that the CVC does not exit via a Trade Sale to its …
Persistent link: https://www.econbiz.de/10011892152
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Which investors’ characteristics are beneficial for initial coin offerings? Evidence from blockchain technology-based firms
Hackober, Christian; Bock, Carolin - In: Journal of Business Economics 91 (2021) 8, pp. 1085-1124
Initial coin offerings have recently become one of the most important funding resources for ventures in the blockchain area. However, often ventures do not rely solely on initial coin offerings as funding source but receive also investments from more established investors prior or during their...
Persistent link: https://www.econbiz.de/10014501482
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Corporate venture capital and the nature of innovation
Maxin, Hannes - 2017
parental companies. I show that the CVC faced with the weaker positive effect becomes the stand-alone investor only if the … expected cash flow is low. Otherwise, in equilibrium, there are only syndicates or stand-alone investments of the CVC with the … stronger positive effect. However, if one CVC faces a positive effect on its parental company's asset whereby the opponent …
Persistent link: https://www.econbiz.de/10011776708