دانلود رایگان مقاله اثرات استراتژیک سرمایه گذاری سرمایه ریسکی شرکت بزرگ

عنوان فارسی
اثرات استراتژیک سرمایه گذاری سرمایه ریسکی شرکت های بزرگ
عنوان انگلیسی
Strategic effects of corporate venture capital investments
صفحات مقاله فارسی
0
صفحات مقاله انگلیسی
7
سال انتشار
2016
نشریه
الزویر - Elsevier
فرمت مقاله انگلیسی
PDF
کد محصول
E3822
رشته های مرتبط با این مقاله
مدیریت
گرایش های مرتبط با این مقاله
مدیریت کسب و کار و کارآفرینی
مجله
مجله دیدگاه مخاطرات کسب و کار - Journal of Business Venturing Insights
دانشگاه
دانشگاه ایالتی کنت، ایالات متحده
کلمات کلیدی
سرمایه گذاری شرکت های بزرگ، منافع استراتژیک، در حال ظهور، قادرسازی، سرمایه گذاری منفعل، مقیاس دستاوردهای بهره وری، نوآوری
۰.۰ (بدون امتیاز)
امتیاز دهید
چکیده

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.

نتیجه گیری

8. Results


Our data suggest that corporations distribute their investment funds unevenly between the deals of different type: more than 50% of the investments are passive, about 20% target emergent deals, 16% of the deals is driving, and less than 5% of investments are enabling. Table 1 documents descriptive statistics for the present study's data. The empirical results are summarized in Table 2. In all, four models are presented.8 Models 1 through 3 analyze the effects of CVC investments on the pool of innovative opportunities available to the corporation. They include three alternative operationalizations of integrative capabilities. Model 4 is concerned with scale efficiency gains. All models demonstrate statistical significance at po0.001 level. The results unambiguously point to the positive role of driving and enabling investments in terms of helping corporations position themselves to benefit from innovative opportunities and improve scale efficiency yields. The opposite is true for emerging and passive investments: they are detrimental in both senses, which may come as a surprise with respect to innovation—after all, they do boast technological fit with the corporation.


بدون دیدگاه