How prior corporate venture capital investments shape technological alliances: : A real options approach.

• Autores: Vareska Van de Vrande, Wim Vanhaverbeke
• Localización: Entrepreneurship: Theory & Practice, ISSN-e 1540-6520, Vol. 37, Nº. 5, 2013, págs. 1018-1043
• Idioma: inglés
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• Resumen

  • This article investigates how prior corporate venture capital (CVC) relationships between two firms affect the likelihood of their subsequently entering a strategic alliance. Creating a portfolio of CVC investments provides the investing firm with a set of opportunities that can be pursued once the technological and market uncertainty have been reduced. If the technology appears to be promising, a follow-on investment, such as a strategic alliance, is made to ensure the transfer of the technological knowledge. This article shows that prior CVC investments can play a role in the formation of strategic alliances and investigates the conditions under which they are most likely to do so. [ABSTRACT FROM AUTHOR]