Corporate venture capital: The role of governance factors

被引：20

作者：

Anokhin, Sergey ^{[1
]}

Peck, Simon ^{[2
]}

Wincent, Joakim ^{[3
,4
]}

机构：

[1] Kent State Univ, Kent, OH 44240 USA

[2] Case Western Reserve Univ, Weatherhead Sch Management, Cleveland, OH 44106 USA

[3] Hanken Sch Econ, Helsinki, Finland

[4] Lulea Univ Technol, Lulea, Sweden

来源：

JOURNAL OF BUSINESS RESEARCH | 2016年 / 69卷 / 11期

关键词：

Corporate venture capital; CVC investments; Corporate governance; FINANCIAL PERFORMANCE; BOARD STRUCTURE; INNOVATION; DIRECTORS; COMPENSATION; FIRMS;

D O I：

10.1016/j.jbusres.2016.04.024

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Research on corporate venture capital (CVC) has consistently proven its importance for innovation and other strategic goals, yet information on the antecedents of CVC activity is scarce. This study provides theoretical arguments for the role of governance factors including board, CEO, and institutional ownership characteristics. Empirical evidence from an international sample of global CVC investments shows that factors such as having a board with multiple board mandates and institutional ownership are important factors for CVC activity. The conclusion is that the role of governance factors is important, and that subsequent research should not ignore this group of factors. (C) 2016 Elsevier Inc. All rights reserved.

引用

页码：4744 / 4749

页数：6

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