What drives CVC investments? : an empirical test of social network theory predictions

Sahut, Jean-Michel (IDRAC Business School (France) ; School of Management Fribourg, HES-SO // University of Applied Sciences Western Switzerland) ; Braune, Eric (INSEEC Lyon (France))

Using data on corporate venture capital (CVC) investments by US corporations between 2001 and 2013, we analyze their CVC expenditures based on their positions in syndication networks and their financial resources. The generalized-method-of-moments models used show that these companies’ annual CVC expenditures depend on the number of co-financing relationships they have and their cash flows in the previous year, as well as their prior investments. However, their previous centrality in syndication networks is not significant, contrary to social network theory, which stipulates that prior central positions in syndication networks significantly explain the future network positions of corporate venture capitalists.


Mots-clés:
Type de conférence:
full paper
Faculté:
Economie et Services
Ecole:
HEG FR Haute école de gestion de Fribourg
Classification:
Economie/gestion
Adresse bibliogr.:
Bangkok, Thailand, 09-11 October 2016
Date:
Bangkok, Thailand
09-11 October 2016
2016
Pagination:
14 p.
Publié dans
Proceedings of the 3rd International Conference on Marketing, Business and Management (ICMBM 2016)
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 Notice créée le 2017-09-25, modifiée le 2018-11-19

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