External Corporate Venturing: Cognition, Speed, and Capability Development

摘要

Particularly in rapidly changing environments, corporate venturing has beenviewed as an important mechanism for learning and renewal within large firms. The literature of corporate venturing has focused chiefly on internal venturing. External corporate venturing, which is a new business creation activity through organizational modes such as corporate venture capital, alliances, acquisitions, or spin-offs has received scant attention. A coherent theoretical framework for this phenomenon is almost completely lacking. This dissertation contributes to the literature on corporate venturing by developing a theoretical framework for external corporate venturing. It aims to answer the question how, in high velocity environments, large firms use external corporate venturing to create new businesses or support the internal creation of new businesses. The study integrates grounded theory methods with related existing bodies of literature such as the resource-based view of strategy and knowledge-based view of the firm.