 What affects new venture firm’s innovation more in corporate venture capital?Jun-You Lin European Management Journal, 2020, vol. 38, issue 4, 646-660 Abstract: Although corporate venture capital (CVC) is a potential source of innovation, few studies have directly examined the impact of a parent company’s knowledge and resources on a new venture firm’s innovation performance. This article investigates the impact of experience with parent’s alliance and investment intensity on the extent to which new ventures in the U.S. use their parents’ knowledge and financial resources for their innovation activities at the inception of the CVC relationship over a 44-year period. Our findings suggest that ventures with alliance experience draw more on collaboration knowledge and relational capital, while investment intensity also increases innovation. At a low level of investment complexity, the use of alliance experience and investment intensity is positively related to innovation performance. However, when a parent company has high investment complexity for innovation performance, investment intensity and alliance experience are less effective. Our results, thus, unveil the CVC backing associated with the innovation of new venture firms. Keywords: Investment intensity; Alliance experience; Investment complexity; Innovation performance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:eurman:v:38:y:2020:i:4:p:646-660 Ordering information: This journal article can be ordered from DOI: 10.1016/j.emj.2020.01.004 Access Statistics for this article European Management Journal is currently edited by Michael Haenlein More articles in European Management Journal from Elsevier |
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