1,721,024 research outputs found
Il voto informale di Giovanni Perrone (primavera 1851)
No full textEdizione critica del voto informale di Giovanni Perrone nel processo ecclesiastico contro Gioberti, corredata dall'Introduzione del curatore
Il voto di Antonio Maria Fania da Rignano postillato da Giovanni Perrone (13 aprile 1851)
No full textEdizione critica del voto di Antonio Maria Fania da Rignano, postillato da Giovanni Perrone, nel processo ecclesiastico contro Vincenzo Gioberti (1851)
THE EFFECT OF ASSUMING DIFFERENT POSITIONS IN THE CROWDSOURCING COMMUNITY NETWORK ON SOLVERS’ SUCCESS
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CVC AND INNOVATION PERFORMANCE: THE EFFECT OF TECHNOLOGICAL DISTANCE WITH STARTUPS AND COINVESTORS
No full textFirms are increasingly opening their boundaries by engaging in corporate venture capital (CVC) programs as potential gateway into knowledge and technologies of innovative startups. By investing in promising startups across diverse industries with different technological knowledge from the knowledge base of the investing corporate, CVC programs constitute a vehicle for corporates to both exploit and explore innovation opportunities. We first examine the relationship between more explorative CVC investments portfolio and the innovation performance of the corporate. Then, we argue that when syndicating the CVC investments with a co-investor, the portfolio of syndication partners may affect the aforementioned curvilinear relationship. Drawing on a panel data set of 494 US corporates operating in a variety of industries that have engaged in CVC programs co-investing with other corporates from 1995 to 2014, we find an inverted U-shaped relationship between the CVC technological distance and corporate’s innovation performance, however, our results suggest that this relationship is not moderated by the CVC syndication portfolio. Our results have important implications for corporate venture capital in particular, and innovation strategy in general
CORPORATE VENTURE CAPITAL AND THE PROBABILITY TO ACQUIRE THE BACKED START-UP: A REAL OPTION PERSPECTIVE
No full textTo sustain their competitive positions, an increasing number of corporates access new knowledge and technologies from emerging start-ups by engaging in Corporate Venture Capital (CVC) investments. CVC investments provide corporates the option to in-source start-ups’ knowledge and technologies through follow-on acquisitions. However acquiring a backed start-up is not always a guarantee of success. Then, corporates should consider which are the most appropriate conditions under which it is beneficial to acquire a CVC backed start-up. Utilizing the theoretical lens of Real Option, we examine the conditions under which a CVC investment may evolve into an acquisition of the backed start-up. We propose that CVC characteristics that mitigate both endogenous and exogenous uncertainties positively affect the corporate’s decision to acquire a backed start-up. In addition, we suggest the presence of other co-investing corporates also impacts the relationship between the CVC characteristics and the corporate’s propensity for a follow-on acquisition. The results indicate that higher technological proximity between the corporate and the backed start-up and advanced stage of CVC investment positively affect the corporate’s decision to acquire a backed start-up, whereas the number of CVC rounds reduces the likelihood of follow-on acquisition. Our empirical findings offer contributions to the CVC literature and they have important implications for managers engaging in CVC activities as a technology sourcing strategy
THE MODERN LANDSCAPE OF EXTERNAL CORPORATE VENTURING: AN EXPLORATIVE STUDY ON THE CHOICE AMONG NEW AND TRADITIONAL CORPORATE VENTURING MODES
No full textLEVERAGING CROWDSOURCING COMMUNITY TO INCREASE THE CHANCES OF WINNING CONTESTS: A SIGNALLING THEORY APPROACH
No full textCorporate Venture Capital follow-on investments: the role of co-investors
No full textCVC investments allow corporates the option to internalize startups’ knowledge and technologies through follow-on investments. Since acquiring a backed startup is not always a guarantee of success, corporates should consider which are the most appropriate conditions under which it is beneficial to acquire the startup. Under the theoretical lens of Real Option theory, we examine the conditions under which a CVC investment may evolve into different kind of CVC follow-on investments. We suggest that the CVC characteristics that mitigate both endogenous and exogenous uncertainties positively affect the corporate’s decision to acquire a backed startup. In addition, we argue that the presence of other co-investing corporates also impacts the relationship between the CVC characteristics and the corporate’s propensity for a follow-on acquisition. The results indicate that higher technological proximity between the corporate and the backed startup and advanced stage of CVC investment positively affect the corporate’s decision to acquire a backed startup, whereas the number of CVC rounds reduces the likelihood of follow-on acquisition. Our findings offer contributions to the CVC literature and they have important implications for managers engaging in CVC activities as a technology sourcing strategy
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