Corporate Venture Capital, Value Creation, and Innovation
We analyze how corporate venture capital (CVC) differs from independent venture capital (IVC) in nurturing innovation in entrepreneurial firms. We find that CVC-backed firms are more innovative, as measured by their patenting outcome, although they are younger, riskier, and less profitable than IVC-backed firms. Our baseline results continue to hold in a propensity-score-matching analysis of IPO firms and a difference-in-differences analysis of the universe of VC-backed entrepreneurial firms. We present evidence consistent with two possible underlying mechanisms: CVCs? greater industry knowledge due to the technological fit between their parent firms and entrepreneurial firms and CVCs? greater tolerance for failure..Printed Journal
Call Number | Location | Available |
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RFS2708 | PSB lt.dasar - Pascasarjana | 1 |
Penerbit | Oxford Oxford University Press., |
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Edisi | - |
Subjek | Innovation Value creation Patents Corporate Venture Capital Citations |
ISBN/ISSN | 8939454 |
Klasifikasi | - |
Deskripsi Fisik | - |
Info Detail Spesifik | - |
Other Version/Related | Tidak tersedia versi lain |
Lampiran Berkas | Tidak Ada Data |