TY - JOUR
T1 - Additivity and complementarity in external technology sourcing
T2 - The added value of corporate venture capital investments
AU - van de Vrande, V.
AU - Vanhaverbeke, W.
AU - Duijsters, G.M.
PY - 2011
Y1 - 2011
N2 - Innovating firms often invest in a number of different technology projects, in different stages of development, using a wide range of distinct technology sourcing modes, such as strategic alliances, joint ventures, and mergers and acquisitions. Recently, firms have also gained an increasing awareness of the potential benefits of corporate venture capital investments. This paper investigates the particular role of corporate venture capital investments in the technology sourcing portfolio of firms. More specifically, we focus on the extent to which corporate venture capital investments are additive or complementary to other modes of technology sourcing when explaining the innovative performance of firms. The results indicate that corporate venture capital investments are particularly beneficial for the innovative performance of firms when they are used in combination with other technology sourcing modes.
AB - Innovating firms often invest in a number of different technology projects, in different stages of development, using a wide range of distinct technology sourcing modes, such as strategic alliances, joint ventures, and mergers and acquisitions. Recently, firms have also gained an increasing awareness of the potential benefits of corporate venture capital investments. This paper investigates the particular role of corporate venture capital investments in the technology sourcing portfolio of firms. More specifically, we focus on the extent to which corporate venture capital investments are additive or complementary to other modes of technology sourcing when explaining the innovative performance of firms. The results indicate that corporate venture capital investments are particularly beneficial for the innovative performance of firms when they are used in combination with other technology sourcing modes.
U2 - 10.1109/tem.2010.2091134
DO - 10.1109/tem.2010.2091134
M3 - Article
SN - 0018-9391
VL - 58
SP - 483
EP - 496
JO - IEEE Transactions on Engineering Management
JF - IEEE Transactions on Engineering Management
IS - 3
ER -