Corporate Entrepreneurship: Nothing Ventured, Nothing Gained?

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Corporate Entrepreneurship: Nothing Ventured, Nothing Gained?

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dc.contributor.author Hill, Susan A. en_GB
dc.contributor.author Birkinshaw, Julian en_GB
dc.contributor.author Murray, Gordon en_GB
dc.date.accessioned 2007-11-30T16:19:01Z en_GB
dc.date.accessioned 2011-01-25T10:27:13Z en_US
dc.date.accessioned 2013-03-19T16:00:44Z
dc.date.issued 2004 en_GB
dc.description.abstract Recent 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.citation Frontiers of Entrepreneurship Research 2004. Babson Park, MA: Babson College: XVI-P1 en_GB
dc.identifier.uri http://hdl.handle.net/10036/14855 en_GB
dc.language.iso en en_GB
dc.publisher Babson College en_GB
dc.relation.ispartofseries Frontiers of Entrepreneurship Research en_GB
dc.relation.ispartofseries 2004 en_GB
dc.relation.url http://www.babson.edu/entrep/fer/FER_2004/web-content/Section%20XVI/P1/XVI-P1.html en_GB
dc.subject Venture capital en_GB
dc.subject Corporate venture en_GB
dc.subject Entrepreneurship en_GB
dc.title Corporate Entrepreneurship: Nothing Ventured, Nothing Gained? en_GB
dc.type Book chapter en_GB
dc.date.available 2007-11-30T16:19:01Z en_GB
dc.date.available 2011-01-25T10:27:13Z en_US
dc.date.available 2013-03-19T16:00:44Z


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