Identifying the determinants of corporate venture capital strategy: evidence from French firms

Souad Brinette and Sabrina Khemiri ()
Additional contact information
Souad Brinette: EDC - EDC Paris Business School
Sabrina Khemiri: DVRC - De Vinci Research Center - DVHE - De Vinci Higher Education

Post-Print from HAL

Abstract: In this paper, we aim to empirically assess the main determinants of decisions of established large firms to launch or join a corporate venture fund. Our study is performed on a database of all French firms that adopted a corporate venture capital (CVC) strategy between 1995 and 2015. This specifically collected dataset includes 58 large groups listed on the SBF 120 index, with 29 groups that launched or joined CVC funds and the other 29 groups are our control sample. The results provide evidence that a firm's CVC strategy is an increasing function of the strength of its specific resources, its performance, the availability of resources, and its low level of indebtedness.

Keywords: Corporate venture capital; CVC; Entrepreneurial finance; Slack resources theory; Resource based view; Agency theory; Large firms; Small businesses; France (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Published in International Journal of Entrepreneurship and Small Business, 2019, 37 (1), pp.152-166. ⟨10.1504/IJESB.2019.099885⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02934578

DOI: 10.1504/IJESB.2019.099885

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().