When does corporate venture capital investment create firm value
By Gary Dushnitsky, Michael J. Lenox. 2006
514 citations recorded by the source corpus.
Subfields: Accounting, Finance
View Paper: https://www.semanticscholar.org/paper/9f03e03896952623d263c20ba2db1a57d6a5314e
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In Accounting
- Riitta Katila
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In Finance
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Citations in the corpus
- Corporate Venture Capital, Value Creation, and Innovation (2014, unknown): “See, e.g., Dushnitsky and Lenox (2005), Dushnitsky and Lenox (2006), and Benson and Ziedonis (2010).”
- Local Bias in Venture Capital Investments (2010, unknown): “First, there is a two-sided matching in VC finance whereby the VCs must select the entrepreneurs and likewise the entrepreneurs must also select the VCs (Wright and Lockett, 2003; Hsu, 2004; Engel and Keilbach, 2006; Dushnitsky and Lenox, 2006; Franke et al., 2006; Mäkelä and Maula, 2007).”
- Entrepreneurial Finance Meets Organizational Reality: Comparing Investment Practices and Performance of Corporate and Independent Venture Capitalists (2010, unknown): “…has a notable financial effect as well: (a) a firm’s cumulative abnormal return varies significantly if it acquires a portfolio company (Benson and Ziedonis, 2008), and (b) a firm’s Tobin’s q levels differ depending on whether its CVC program is strategically oriented (Dushnitsky and Lenox, 2006).”
- Venture Capital Conflicts of Interest: Evidence from Acquisitions of Venture-Backed Firms (2010, unknown): “See Burgelman and Valikangas (2005), Dushnitsky and Lenox (2006) and Gompers and Lerrner (2000) for further discussion of the reasons for the abrupt changes in corporate strategies and policies toward venture capital investing.”
- Financing technology-based small firms in Europe: what do we know? (2012, background): “12 Dushnitsky and Lenox (2006) show that firms in high-tech sectors take best advantage of the “window on technology” offered by CVC. Post-IPO growth may not benefit from venture-backing if venture capitalists follow a “quickand-dirt” approach to their investments (Bottazzi and Da Rin 2002).”
- Organization and Financing of Innovation, and the Choice between Corporate and Independent Venture Capital (2009, methodology): “Consistent with the growing use of CVC by established companies, recent empirical research in Dushnitsky and Lenox (2006) provides evidence that CVC creates firm value, especially when firms undertake CVC to exploit new technologies.”
- How Do Social Defenses Work? A Resource-Dependence Lens on Technology Ventures, Venture Capital Investors, and Corporate Relationships (2014, background): “…customers, or manufacturing capabilities of which are particularly attractive to young ventures, may also have strong incentives to misappropriate young firms’ own innovations or to alter young firms’ agendas to their own advantage (Dushnitsky & Lenox, 2006; Kale, Singh, & Perlmutter, 2000).”