This paper takes a real options view of corporate venture capital (CVC), which are direct minority equity investments made by established companies in privately held entrepreneurial ventures. CVC investments have been characterized as creating growth options for corporate investors. We argue...

This study examines the conditions under which portfolios of corporate venture capital (CVC) relationships influence corporate investor innovation performance. We investigate this question using longitudinal data on CVC investment portfolios of 40 telecommunications equipment manufacturers. We...

How do external venturing units effectively achieve external knowledge search and integration of their initiatives with mainstream organizational units? We investigate this largely unexplored question through an inductive study of 17 corporate venture capital units. We document a set of five...

This study examines when established firms participate in corporate venture capital (CVC). We build on the resource-based view of interfirm collaboration and emphasize the strategic flexibility of CVC relationships. We use longitudinal data on 477 firms from 1990-2000 to test our hypotheses. We...