Corporate Venture Capital Organizations in Germany

被引：23

作者：

Weber, Christiana ^{[1
]}

Weber, Barbara ^{[1
]}

机构：

[1] Social Sci Res Ctr Berlin WZB, Res Unit Innovat & Org, Berlin, Germany

来源：

VENTURE CAPITAL | 2005年 / 7卷 / 01期

关键词：

Corporate venture capital; organizational structure; investment strategy; investment criteria;

D O I：

10.1080/1369106042000316350

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper analyses the goals, the organizational structures and processes, and the investment criteria that underlie venture strategies in Germany today, using a sample of 20 corporate venture capital organizations (CVCs). The performance of these CVCs is examined and the data are compared with those generated by studies on German independent venture capital organizations (VCs) as well as with European and US CVCs. The study concludes that German CVCs that focus either on financial or on strategic objectives are more successful than those with a mixed approach. Further, CVCs with a strong financial focus seem to be financially-and sometimes also strategically-more successful than CVCs with a strong strategic focus.

引用

页码：51 / 73

页数：23

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