Strategic effects of corporate venture capital investments

Sergey Anokhin, Joakim Wincent, Pejvak Oghazi

Research output: Contribution to journalArticle

1 Citation (Scopus)

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 languageEnglish
Pages (from-to)63-69
Number of pages7
JournalJournal of Business Venturing Insights
Volume5
DOIs
Publication statusPublished - 1 Jun 2016
Externally publishedYes

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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

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