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Non-financial value creation in corporate venture capital : a systematic review of empirical studies

  • In recent decades, scholars have devoted increasing attention to equity investments in start-up companies executed by an intermediary owned and controlled by a corporation. Corporate venture capital (CVC) units provide liquidity to new venture companies and seek to achieve value creation for their corporate parents by offering a window to new technologies and for portfolio companies by leveraging their distinctive resource capabilities. This paper reviews the existing literature on CVC non-financial value creation for corporate parents and new venture portfolio firms in a systematic and replicable way. The contributions of our study are twofold. First, our thematic analysis reveals gaps in the existing knowledge, enabling scholars to investigate these research areas in more detail. Second, we provide a clear road map for CVC practitioners aiming to drive corporate innovation and scale new venture portfolio firms.

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Metadaten
Document Type:Article
Language:English
Author:Benjamin M. Bugl, Dominik K. KanbachORCiD
Chairs and Professorships:Chair of Strategic Entrepreneurship
DOI:https://doi.org/http://dx.doi.org/10.1504/IJEV.2022.122643
Parent Title (English):International journal of entrepreneurial venturing
ISSN:1742-5360
Volume:14
Issue:2
Year of Completion:2022
First Page:230
Last Page:276
Tag:CVD; Corporate venture capital; Corporate venturing; Value creation; Value generation
Content Focus:Academic Audience
Peer Reviewed:Yes
Rankings:AJG Ranking / 1
VHB Ranking / B
SJR Ranking / Q2
Licence (German):License LogoUrheberrechtlich gesch├╝tzt