دانلود رایگان مقاله سرمایه ریسکی شرکت نقش عوامل حاکمیت

abstract

Research on corporate venture capital (CVC) has consistently proven its importance for innovation and other strategic goals, yet information on the antecedents of CVC activity is scarce. This study provides theoretical arguments for the role of governance factors including board, CEO, and institutional ownership characteristics. Empirical evidence from an international sample of global CVC investments shows that factors such as having a board with multiple board mandates and institutional ownership are important factors for CVC activity. The conclusion is that the role of governance factors is important, and that subsequent research should not ignore this group of factors.

5. Conclusions and further research

Research interested in antecedents to CVC activity has thus far not emphasized the role of governance factors. The finding that governance factors influence CVC activity is important, because this result supports considering governance factors in CVC organization. This finding has potentially broad interest because CVC is an increasingly popular context in which many companies operate. The present research offers an initial view of how governance factors influence CVC activity and suggests important areas for further research. These areas include ways in which CVC activity and board governance influence each other. Furthermore, the lack of support to CEO tenure as an important factor affecting a corporation's CVC strategies calls for further attention. Nevertheless, the findings suggest that scholars should pay greater attention to this area of research.