scholarly journals The Influence of Exploration on External Corporate Venturing Activity

2014 ◽  
Vol 43 (5) ◽  
pp. 1609-1630 ◽  
Author(s):  
Varkey Titus ◽  
Jenny M. House ◽  
Jeffrey G. Covin
Keyword(s):  
Organizational Learning ◽  
Venture Capital ◽  
Joint Ventures ◽  
Capital Investments ◽  
Corporate Venture Capital ◽  
Corporate Venturing ◽  
Corporate Venture ◽  
Venture Capital Investments ◽  
Exploration Exploitation ◽  
The Relationship

We utilize the exploration/exploitation framework to examine how a firm’s engagement in exploration influences its portfolio of external corporate venturing (ECV) activities. Three forms of equity-based ECV are considered: corporate venture capital investments, joint ventures, and acquisitions. The organizational learning literature is used to investigate how a firm’s engagement in exploration influences its usage of acquisitions relative to its overall portfolio of ECV activities. The investing firm’s industry technological dynamism is posited as a moderator of the relationship between exploration and the relative usage of acquisitions. Utilizing a sample of 1,326 firm-year observations between 1996 and 2008, we find that exploration is positively related to the relative usage of acquisitions, though this relationship is moderated by the investing firm’s industry technological dynamism.

THE IMPACT OF STRATEGY AND STRUCTURE ON THE PERFORMANCE OF CORPORATE VENTURE CAPITAL UNITS

2021 ◽  
Author(s):  
MAGDALENA KOHUT ◽  
MARCEL AHLFÄNGER ◽  
JENS LEKER
Keyword(s):  
Venture Capital ◽  
Structural Design ◽  
Qualitative Data ◽  
Corporate Venture Capital ◽  
Organisational Structure ◽  
Corporate Venturing ◽  
Organic Hybrid ◽  
Corporate Venture ◽  
Strategy And Structure ◽  
The Impact

The range of organisational designs and their interplay with the objectives of corporate venture capital (CVC) units has yet to be fully understood. Using primary qualitative data collected from 20 CVC units, the authors show that although strategy does not always consciously drive structural design, there are clear patterns of beneficial organisational structure that support achievement of particular objectives. Furthermore, the authors discuss the implications of objectives and organic, hybrid and mechanistic structures on CVC performance, contributing both to the CVC literature and the practice of corporate venturing.

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