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How Corporate Venture Capitalists Add Value to Entrepreneurial Young Firms

Entrepreneurship: Frameworks And Empirical Investigations From Forthcoming Leaders Of European Research

ISBN: 978-0-76231-329-7, eISBN: 978-1-84950-428-7

Publication date: 18 July 2006

Abstract

The present study develops a multi-theoretic framework of the mechanisms of value creation in interorganizational relationships and of the key factors influencing those mechanisms. The integrative use of several theories in building the model is justified by numerous studies suggesting that a multi-theoretic approach is required to understand the complexity of interorganizational relationships (Gulati, 1998; Osborn & Hagedoorn, 1997; Park et al., 2002). We believe that the relationships between start-up companies and their corporate investors, with each party holding a diversity of strategic and financial objectives, are not less complex than other potential interorganizational relationships. They may therefore also require ideas from several theories to be properly understood. In this study, we build the models applying primarily the resource-based and the knowledge-based views, as well as social capital theory. Ideas from other theoretical approaches are used to complement these theories.

Citation

Maula, M.V.J., Autio, E. and Murray, G. (2006), "How Corporate Venture Capitalists Add Value to Entrepreneurial Young Firms", Wiklund, J., Dimov, D., Katz, J.A. and Shepherd, D.A. (Ed.) Entrepreneurship: Frameworks And Empirical Investigations From Forthcoming Leaders Of European Research (Advances in Entrepreneurship, Firm Emergence and Growth, Vol. 9), Emerald Group Publishing Limited, Leeds, pp. 267-309. https://doi.org/10.1016/S1074-7540(06)09010-6

Publisher

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Emerald Group Publishing Limited

Copyright © 2006, Emerald Group Publishing Limited