The influence of R&D investment on the use of corporate venture capital: An industry-level analysis

被引：59
|
作者：
Sahaym, Arvin [1 ]
Steensma, H. Kevin [2 ]
Barden, Jeffrey Q. [2 ]
机构：
[1] Washington State Univ, Coll Business, Pullman, WA 99164 USA
[2] Univ Washington, Foster Sch Business, Seattle, WA 98195 USA
来源：
JOURNAL OF BUSINESS VENTURING | 2010年 / 25卷 / 04期
关键词：
Absorptive capacity; R&D; Options; CVC; Exploration; ABSORPTIVE-CAPACITY; REAL OPTIONS; TECHNOLOGICAL DISCONTINUITIES; INFORMATION-TECHNOLOGY; INNOVATION; PERSPECTIVE; PERFORMANCE; SPILLOVERS; DIMENSIONS; LINKAGES;
D O I：
10.1016/j.jbusvent.2008.12.001
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We consider how internal research and development (R&D) influences the use of corporate venture capital (CVC) and how this relationship varies across industries. We find that, in general, R&D investments increase the number of CVC deals in an industry. We also find that R&D investment has a particularly strong influence on the use of CVC in industries that are growing rapidly and changing technologically. Our analysis provides greater clarity on the relationships involving R&D and CVC in the presence of contingencies by integrating insights of absorptive capacity and real options reasoning. (C) 2008 Elsevier Inc. All rights reserved.
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页码：376 / 388
页数：13
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