Corporate Venture Capital and the Value-Added for Technology-Based New Firms.

摘要

This dissertation seeks to contribute to the body of literature covering the field of interorganizational relationships of entrepreneurial firms. More specifically, this study attempts to fill a significant gap in the research into relationships between entrepreneurial firms and their corporate venture capital investors. Even though it has been recognized that relationships with large corporations can have significant implications for the performance of technology-based new firms through corporate venture capital investments, there is little rigorous, theory-based, empirical research that focuses on the factors influencing the value added that start-up companies receive from their corporate investors. This dissertation contributes to the literature by developing and empirically testing a model of the value-added mechanisms and of the factors influencing those mechanisms. Based on a review of the literature covering corporate venture capital and related domains of research into interorganizational relationships, this dissertation identifies resource acquisition, knowledge acquisition, and endorsement benefits as the primary mechanisms through which corporate venture capital investments add value to technology-based new firms beyond financing.