The Limited Interest of Carmakers in Corporate Venture Capital: Insights From a Mature Industry

Marina Flamand () and Vincent Frigant
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Marina Flamand: GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique

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Abstract: A whole corpus of literature has evolved to discuss the motivation of industrial companies in creating corporate venture capital (CVC) funds. However, most studies have been limited to technology sectors that are particularly active in this domain. The present paper seeks to analyse a mature economic sector – automobiles – which should have good reason to take an interest in CVC. A panel comprising 13 of the world's leading carmakers reveals that (1) few operate any CVC funds; (2) the ones that do tend not to be very active; and (3) investments basically correspond to strategic motivations of the kind that literature already envisions. These findings suggest that CVC studies in particular sectors should take a closer look at institutional isomorphism and consider how inter-firm relationships are organised.

Keywords: Corporate venture capital; investments objectives; automotive; institutional isomorphism; industry organisation; innovation (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

Published in Venture Capital, 2017, 19 (4), pp.263-283. ⟨10.1080/13691066.2017.1335959⟩

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Journal Article: The limited interest of carmakers in corporate venture capital: insights from a mature industry (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02150277

DOI: 10.1080/13691066.2017.1335959

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