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dc.contributor.authorHill, Susan A.en_GB
dc.contributor.authorBirkinshaw, Julianen_GB
dc.contributor.authorMurray, Gordonen_GB
dc.date.accessioned2007-11-30T16:19:01Zen_GB
dc.date.accessioned2011-01-25T10:27:13Zen_GB
dc.date.accessioned2013-03-19T16:00:44Z
dc.date.issued2004en_GB
dc.description.abstractRecent literature has suggested that adopting elements of the organization of independent venture capital (VC) firms may enhance the performance of corporate venture (CV) units (Chesbrough, 2000; Sahlman, 1990). This assertion has only been subject to minimal empirical research: typically restricted to small-sample qualitative studies or to examining the respective influences of independent VC firms and CV units on the performance of portfolio firms (Gompers & Lerner, 1998; Maula & Murray, 2001). A longitudinal survey of 95 CV units across three continents found mixed empirical support for the suggestion. Of the VC structures and practices investigated, strongest support was found for CV unit engagement with the VC community which was consistently associated with superior corporate venturing performance along both strategic and financial dimensions. VC-like equity-based compensation systems were not found to influence CV performance even where CV units were strongly focused on financial goals. Overall, the adoption of VC practices, partially mediated by venture unit performance, was positively associated with CV unit survival. These results suggest that selective adoption of elements of the VC model may enhance CV unit performance and survival.en_GB
dc.identifier.citationFrontiers of Entrepreneurship Research 2004. Babson Park, MA: Babson College: XVI-P1en_GB
dc.identifier.urihttp://hdl.handle.net/10036/14855en_GB
dc.language.isoenen_GB
dc.publisherBabson Collegeen_GB
dc.subjectVenture capitalen_GB
dc.subjectCorporate ventureen_GB
dc.subjectEntrepreneurshipen_GB
dc.titleCorporate Entrepreneurship: Nothing Ventured, Nothing Gained?en_GB
dc.typeBook chapteren_GB
dc.date.available2007-11-30T16:19:01Zen_GB
dc.date.available2011-01-25T10:27:13Zen_GB
dc.date.available2013-03-19T16:00:44Z


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