Additivity and Complementarity in external technology sourcing: the added value of corporate venture capital investments
Van de Vrande, Vareska J.A. Vanhaverbeke, Wim Duysters, Geert
Van de Vrande, Vareska J.A.
Vanhaverbeke, Wim
Duysters, Geert
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Publication Type
Journal article with impact factor
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Supervisor
Publication Year
2011
Journal
IEEE Transactions on Engineering Management
Book
Publication Volume
58
Publication Issue
3
Publication Begin page
483
Publication End page
496
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Abstract
Innovating firms often invest in a number of different technology projects, in different stages of development, using a wide range of distinct technology sourcing modes, such as strategic alliances, joint ventures, and mergers and acquisitions. Recently, firms have also gained an increasing awareness of the potential benefits of corporate venture capital investments. This paper investigates the particular role of corporate venture capital investments in the technology sourcing portfolio of firms. More specifically, we focus on the extent to which corporate venture capital investments are additive or complementary to other modes of technology sourcing when explaining the innovative performance of firms. The results indicate that corporate venture capital investments are particularly beneficial for the innovative performance of firms when they are used in combination with other technology sourcing modes.
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Keywords
Innovation Management & Entrepreneurship, Innovation Management, Entrepreneurship