by Charlie Williams

 

This month we meet up in person at the SMS conference in Denver. In our free-wheeling, face to face discussion we talk about research on corporate venture capital. When big companies invest in speculative ventures, like Google’s billion dollar investment in Space X, does it payoff? Can companies learn from their investments? How?

https://soundcloud.com/researchchatter/rc3-can-big-companies-succeed-as-venture-capitalists

Research cited in the discussion:

  1. “The determinants of corporate venture capital success” Gompers and Lerner, NBER 2000. http://www.nber.org/chapters/c9004.pdf
  2. “When do incumbents learn from entrepreneurial ventures?” Dushnitsky and Lenox, Research Policy 2005. http://www.sciencedirect.com/science/article/pii/S0048733305000442
  3. “Knowledge creation through external venturing” Wadhwa and Kotha, Academy of Management Journal 2006. http://amj.aom.org/content/49/4/819.short
  4. “Corporate Venture Capital: Seeking Innovation and Strategic Growth” Macmillan et al, NIST. http://www.atp.nist.gov/eao/gcr_08_916_nist4_cvc_073108_web.pdf
  5. “Limitations to interorganizational knowledge acquisition” Dushnitsky and Shaver Strategic Management Journal 2009. http://onlinelibrary.wiley.com/doi/10.1002/smj.781/abstract
  6. “Corporate venture capital and the returns to acquiring portfolio companies” Benson and Ziedonis Journal of Financial Economics 2010. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1681165

To see more research on CVC, check out the Strategic Management Journal special virtual issue on corporate venturing here: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1097-0266/homepage/corporate_venturing_vsi_articles.htm