Abstract
This paper analyzes the strategic effects of corporate venture capital investments. Specifically, by studying the deals of 163 corporations over a four-year period, it documents the effects of driving, emerging, enabling, and passive investments on the pool of innovative opportunities available to incumbents and the scale efficiency gains they experience as a result of these investments. The study suggests that by making driving and enabling investments, incumbents position themselves in the industry to take advantage of increased pools of innovative opportunities and improve scale efficiency yields. At the same time, emerging and passive investments are detrimental for both of the strategic goals considered in this paper.
| Original language | English |
|---|---|
| Pages (from-to) | 63-69 |
| Number of pages | 7 |
| Journal | Journal of Business Venturing Insights |
| Volume | 5 |
| DOIs | |
| Publication status | Published - 1 Jun 2016 |
| Externally published | Yes |
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Keywords
- Corporate venture capital
- Driving, emerging, enabling, passive investments
- Innovation
- Scale efficiency gains
- Strategic benefits
ASJC Scopus subject areas
- Business and International Management
- Management of Technology and Innovation
Cite this
Strategic effects of corporate venture capital investments. / Anokhin, Sergey; Wincent, Joakim; Oghazi, Pejvak.
In: Journal of Business Venturing Insights, Vol. 5, 01.06.2016, p. 63-69.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Strategic effects of corporate venture capital investments
AU - Anokhin, Sergey
AU - Wincent, Joakim
AU - Oghazi, Pejvak
PY - 2016/6/1
Y1 - 2016/6/1
N2 - This paper analyzes the strategic effects of corporate venture capital investments. Specifically, by studying the deals of 163 corporations over a four-year period, it documents the effects of driving, emerging, enabling, and passive investments on the pool of innovative opportunities available to incumbents and the scale efficiency gains they experience as a result of these investments. The study suggests that by making driving and enabling investments, incumbents position themselves in the industry to take advantage of increased pools of innovative opportunities and improve scale efficiency yields. At the same time, emerging and passive investments are detrimental for both of the strategic goals considered in this paper.
AB - This paper analyzes the strategic effects of corporate venture capital investments. Specifically, by studying the deals of 163 corporations over a four-year period, it documents the effects of driving, emerging, enabling, and passive investments on the pool of innovative opportunities available to incumbents and the scale efficiency gains they experience as a result of these investments. The study suggests that by making driving and enabling investments, incumbents position themselves in the industry to take advantage of increased pools of innovative opportunities and improve scale efficiency yields. At the same time, emerging and passive investments are detrimental for both of the strategic goals considered in this paper.
KW - Corporate venture capital
KW - Driving, emerging, enabling, passive investments
KW - Innovation
KW - Scale efficiency gains
KW - Strategic benefits
UR - http://www.scopus.com/inward/record.url?scp=84963768204&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84963768204&partnerID=8YFLogxK
U2 - 10.1016/j.jbvi.2016.04.002
DO - 10.1016/j.jbvi.2016.04.002
M3 - Article
AN - SCOPUS:84963768204
VL - 5
SP - 63
EP - 69
JO - Journal of Business Venturing Insights
JF - Journal of Business Venturing Insights
SN - 2352-6734
ER -