The configuration of corporate venturing logics: An integrated resource dependence and institutional perspective

In this paper, we use an integrated resource dependence and institutional perspective to examine how parent companies and their corporate venturing (CV) programs negotiate and construct their venturing logic. Building on prior CV configuration research, we develop a theoretically grounded typology consisting of eight CV logics. Our typology holistically integrates aspects of institutional duality and competing logics with the influence of mutual resource dependencies and power imbalances arising from the three-way interplay between the parent company, the CV program, and the external environment. In particular, our typology captures the effects of the relative resource munificence of the external environment on the bilateral dependence between the parent company and the CV program, and on the emergence of either existing distinct venturing logics or unique hybrid logics. These eight venturing logics provide guidance with respect to the optimal configurations of CV programs, both in times of economic crisis and in times of economic plenty. We conclude by discussing implications for the CV and broader corporate entrepreneurship literatures.