Firm structure and environment as contingencies to the corporate venture capital-parent firm value relationship
- Author
- Varkey K. Jr. Titus and Brian Anderson (UGent)
- Organization
- Abstract
- Corporate venture capital (CVC) is a valuable strategic tool associated with numerous innovative outcomes. However, less is known about whether CVC investing creates value for the investing (or parent) firm. Drawing from the attention-based view and contingency theory, we suggest that an increase in firm value from CVC investing is contingent on attentional mechanisms that discipline the selection of new investment opportunities. We posit that increases in firm value associated with CVC investing accrues to firms adopting specific operational structures and operating in particular environmental contexts. We find support for our research model in a sample of 95 companies between 2000 and 2008.
- Keywords
- RESEARCH AND DEVELOPMENT, ATTENTION-BASED VIEW, ENTREPRENEURIAL ORIENTATION, MULTIBUSINESS FIRM, STRATEGY RESEARCH, REAL OPTIONS, M-FORM, PERFORMANCE, DIVERSIFICATION, INVESTMENT
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-8649559
- MLA
- Titus, Varkey K. Jr., and Brian Anderson. “Firm Structure and Environment as Contingencies to the Corporate Venture Capital-Parent Firm Value Relationship.” ENTREPRENEURSHIP THEORY AND PRACTICE, vol. 42, no. 3, 2018, pp. 498–522, doi:10.1111/etap.12264.
- APA
- Titus, V. K. Jr., & Anderson, B. (2018). Firm structure and environment as contingencies to the corporate venture capital-parent firm value relationship. ENTREPRENEURSHIP THEORY AND PRACTICE, 42(3), 498–522. https://doi.org/10.1111/etap.12264
- Chicago author-date
- Titus, Varkey K. Jr., and Brian Anderson. 2018. “Firm Structure and Environment as Contingencies to the Corporate Venture Capital-Parent Firm Value Relationship.” ENTREPRENEURSHIP THEORY AND PRACTICE 42 (3): 498–522. https://doi.org/10.1111/etap.12264.
- Chicago author-date (all authors)
- Titus, Varkey K. Jr., and Brian Anderson. 2018. “Firm Structure and Environment as Contingencies to the Corporate Venture Capital-Parent Firm Value Relationship.” ENTREPRENEURSHIP THEORY AND PRACTICE 42 (3): 498–522. doi:10.1111/etap.12264.
- Vancouver
- 1.Titus VKJr, Anderson B. Firm structure and environment as contingencies to the corporate venture capital-parent firm value relationship. ENTREPRENEURSHIP THEORY AND PRACTICE. 2018;42(3):498–522.
- IEEE
- [1]V. K. Jr. Titus and B. Anderson, “Firm structure and environment as contingencies to the corporate venture capital-parent firm value relationship,” ENTREPRENEURSHIP THEORY AND PRACTICE, vol. 42, no. 3, pp. 498–522, 2018.
@article{8649559,
abstract = {{Corporate venture capital (CVC) is a valuable strategic tool associated with numerous innovative outcomes. However, less is known about whether CVC investing creates value for the investing (or parent) firm. Drawing from the attention-based view and contingency theory, we suggest that an increase in firm value from CVC investing is contingent on attentional mechanisms that discipline the selection of new investment opportunities. We posit that increases in firm value associated with CVC investing accrues to firms adopting specific operational structures and operating in particular environmental contexts. We find support for our research model in a sample of 95 companies between 2000 and 2008.}},
author = {{Titus, Varkey K. Jr. and Anderson, Brian}},
issn = {{1042-2587}},
journal = {{ENTREPRENEURSHIP THEORY AND PRACTICE}},
keywords = {{RESEARCH AND DEVELOPMENT,ATTENTION-BASED VIEW,ENTREPRENEURIAL ORIENTATION,MULTIBUSINESS FIRM,STRATEGY RESEARCH,REAL OPTIONS,M-FORM,PERFORMANCE,DIVERSIFICATION,INVESTMENT}},
language = {{eng}},
number = {{3}},
pages = {{498--522}},
title = {{Firm structure and environment as contingencies to the corporate venture capital-parent firm value relationship}},
url = {{http://doi.org/10.1111/etap.12264}},
volume = {{42}},
year = {{2018}},
}
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