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Empirical Essays on Corporate Innovation: Untangling the Effects of Corporate Venture Capital

Anokhin, Sergey
http://rave.ohiolink.edu/etdc/view?acc_num=case1152821357

Abstract Details

2006, Doctor of Philosophy, Case Western Reserve University, Management.
The dissertation combines three empirical essays on corporate venture capital (CVC) in the context of corporate innovation. It analyzes the effects of size and composition of CVC portfolio on the rates of corporate innovation and scale efficiency gains. It also investigates what makes some corporate parents better than others in absorbing the know-how developed elsewhere and addresses the long term effects for the new ventures of accepting CVC funding at founding. The analysis demonstrates that while both CVC and R&D appear to be positively related to the rates of corporate innovation, CVC may have a long-term effect on innovation while R&D is most influential in the immediate perspective. CVC intensity positively moderates the effect of R&D on innovation when organizational slack is high, and negatively when it is low. The study confirms the presence of the inverted U-shaped relationship between CVC intensity and corporate innovation thus suggesting existence of the optimal size of CVC portfolio which maximizes corporate innovation. Technological and market fit between the corporation and the new venture affect the likelihood of fulfilling incumbents’ strategic objectives in different ways. Market development potential – the ability of the startup to create new or extend existing markets for the incumbent – is the key dimension. When market development potential (MDP) is present, rates of corporate innovation increase and scale efficiency gains follow. When MDP is combined with technological fit, innovativeness soars. Without MDP, however, both rates of corporate innovation and scale efficiency decline regardless of presence/absence of technological fit. History matters in structural decisions of the corporations to establish CVC programs and in their ability to realize innovative potential inherent in the new ventures’ ideas. Corporations started with the help of CVC are significantly more likely to initiate CVC programs of their own. This is especially true for CVC children parented by the corporations with clear policies of taking seats on the boards of their CVC children. CVC children also make better CVC parents in terms of their ability to absorb the know-how developed elsewhere. At the same time, they demonstrate inferior ability to utilize their own research and development.
Leonard Lynn (Advisor)
145 p.
Business Administration, Management
Technology and Innovation Management; Corporate Venture Capital; Strategy; Entrepreneurship; Data Envelopment Analysis

Recommended Citations

Citations

  • Anokhin, S. (2006). Empirical Essays on Corporate Innovation: Untangling the Effects of Corporate Venture Capital [Doctoral dissertation, Case Western Reserve University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=case1152821357

    APA Style (7th edition)

  • Anokhin, Sergey. Empirical Essays on Corporate Innovation: Untangling the Effects of Corporate Venture Capital. 2006. Case Western Reserve University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=case1152821357.

    MLA Style (8th edition)

  • Anokhin, Sergey. "Empirical Essays on Corporate Innovation: Untangling the Effects of Corporate Venture Capital." Doctoral dissertation, Case Western Reserve University, 2006. http://rave.ohiolink.edu/etdc/view?acc_num=case1152821357

    Chicago Manual of Style (17th edition)

case1152821357
2,278
© 2006, all rights reserved.
This open access ETD is published by Case Western Reserve University School of Graduate Studies and OhioLINK.