IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v62y2009i1p93-103.html
   My bibliography  Save this article

Technology commercialization, incubator and venture capital, and new venture performance

Author

Listed:
  • Chen, Chung-Jen

Abstract

This study examines the effects of technology commercialization, incubator and venture capital supports on new venture performance from the resource-based view. This study uses regression analysis to test the hypotheses in a sample of 122 new ventures. The findings highlight the role of technology commercialization as a mediator between organizational resources, innovative capabilities, and new venture performance. Also, the empirical evidence indicates that incubator and venture capital supports moderate the effects of technology commercialization on the performance of new ventures. Finally, this study discusses managerial implications and highlights future research directions.

Suggested Citation

  • Chen, Chung-Jen, 2009. "Technology commercialization, incubator and venture capital, and new venture performance," Journal of Business Research, Elsevier, vol. 62(1), pages 93-103, January.
  • Handle: RePEc:eee:jbrese:v:62:y:2009:i:1:p:93-103
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148-2963(08)00005-2
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Noel Capon & John U. Farley & Donald R. Lehmann & James M. Hulbert, 1992. "Profiles of Product Innovators Among Large U.S. Manufacturers," Management Science, INFORMS, vol. 38(2), pages 157-169, February.
    2. Weijian Shan, 1990. "An empirical analysis of organizational strategies by entrepreneurial high‐technology firms," Strategic Management Journal, Wiley Blackwell, vol. 11(2), pages 129-139, February.
    3. Tyzoon T. Tyebjee & Albert V. Bruno, 1984. "A Model of Venture Capitalist Investment Activity," Management Science, INFORMS, vol. 30(9), pages 1051-1066, September.
    4. John E. Ettlie & David B. Vellenga, 1979. "The Adoption Time Period for Some Transportation Innovations," Management Science, INFORMS, vol. 25(5), pages 429-443, May.
    5. Mian, Sarfraz A., 1996. "Assessing value-added contributions of university technology business incubators to tenant firms," Research Policy, Elsevier, vol. 25(3), pages 325-335, May.
    6. Macmillan, Ian C. & Siegel, Robin & Narasimha, P. N. Subba, 1985. "Criteria used by venture capitalists to evaluate new venture proposals," Journal of Business Venturing, Elsevier, vol. 1(1), pages 119-128.
    7. Colombo, Massimo G. & Delmastro, Marco, 2002. "How effective are technology incubators?: Evidence from Italy," Research Policy, Elsevier, vol. 31(7), pages 1103-1122, September.
    8. Thong, James Y. L., 2001. "Resource constraints and information systems implementation in Singaporean small businesses," Omega, Elsevier, vol. 29(2), pages 143-156, April.
    9. von Burg, Urs & Kenney, Martin, 2000. "Venture capital and the birth of the local area networking industry," Research Policy, Elsevier, vol. 29(9), pages 1135-1155, December.
    10. Henry R. Feeser & Gary E. Willard, 1990. "Founding strategy and performance: A comparison of high and low growth high tech firms," Strategic Management Journal, Wiley Blackwell, vol. 11(2), pages 87-98, February.
    11. Roure, Juan B. & Keeley, Robert H., 1990. "Predictors of success in new technology based ventures," Journal of Business Venturing, Elsevier, vol. 5(4), pages 201-220, July.
    12. Poh‐Lin Yeoh & Kendall Roth, 1999. "An empirical analysis of sustained advantage in the U.S. pharmaceutical industry: impact of firm resources and capabilities," Strategic Management Journal, Wiley Blackwell, vol. 20(7), pages 637-653, July.
    13. Mahoney, Joseph T., 1995. "The management of resources and the resource of management," Journal of Business Research, Elsevier, vol. 33(2), pages 91-101, June.
    14. Macmillan, Ian C. & Kulow, David M. & Khoylian, Roubina, 1989. "Venture capitalists' involvement in their investments: Extent and performance," Journal of Business Venturing, Elsevier, vol. 4(1), pages 27-47, January.
    15. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Denis A. Grégoire & Martin X. Noël & Richard Déry & Jean–Pierre Béchard, 2006. "Is There Conceptual Convergence in Entrepreneurship Research? A Co–Citation Analysis of Frontiers of Entrepreneurship Research, 1981–2004," Entrepreneurship Theory and Practice, , vol. 30(3), pages 333-373, May.
    2. Ge, Dingkun & Mahoney, James M. & Mahoney, Joseph T., 2005. "New Venture Valuation by Venture Capitalists: An Integrative Approach," Working Papers 05-0124, University of Illinois at Urbana-Champaign, College of Business.
    3. Evila Piva & Cristina Rossi-Lamastra, 2018. "Human capital signals and entrepreneurs’ success in equity crowdfunding," Small Business Economics, Springer, vol. 51(3), pages 667-686, October.
    4. Lowell W. Busenitz & Douglas D. Moesel & James O. Fiet & Jay B. Barney, 1997. "The Framing of Perceptions of Fairness in the Relationship between Venture Capitalists and New Venture Teams," Entrepreneurship Theory and Practice, , vol. 21(3), pages 5-22, April.
    5. Colombo, Massimo G. & Grilli, Luca, 2010. "On growth drivers of high-tech start-ups: Exploring the role of founders' human capital and venture capital," Journal of Business Venturing, Elsevier, vol. 25(6), pages 610-626, November.
    6. Barney, Jay B. & Busenitz, Lowell W. & Fiet, James O. & Moesel, Douglas D., 1996. "New venture teams' assessment of learning assistance from venture capital firms," Journal of Business Venturing, Elsevier, vol. 11(4), pages 257-272, July.
    7. Panagiotis Ganotakis, 2012. "Founders’ human capital and the performance of UK new technology based firms," Small Business Economics, Springer, vol. 39(2), pages 495-515, September.
    8. Abraham Carmeli & Asher Tishler, 2004. "Resources, capabilities, and the performance of industrial firms: A multivariate analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(6-7), pages 299-315.
    9. Yan Alperovych & Georges Hübner, 2013. "Incremental impact of venture capital financing," Small Business Economics, Springer, vol. 41(3), pages 651-666, October.
    10. Zacharakis, Andrew L. & Meyer, G. Dale, 1998. "A lack of insight: do venture capitalists really understand their own decision process?," Journal of Business Venturing, Elsevier, vol. 13(1), pages 57-76, January.
    11. Zacharakis, Andrew L. & Shepherd, Dean A., 2001. "The nature of information and overconfidence on venture capitalists' decision making," Journal of Business Venturing, Elsevier, vol. 16(4), pages 311-332, July.
    12. Murray, Gordon C. & Lott, Jonathan, 1995. "Have UK venture capitalists a bias against investment in new technology-based firms?," Research Policy, Elsevier, vol. 24(2), pages 283-299, March.
    13. Zacharakis, Andrew & Shepherd, Dean A., 2005. "A non-additive decision-aid for venture capitalists' investment decisions," European Journal of Operational Research, Elsevier, vol. 162(3), pages 673-689, May.
    14. Pla-Barber, José & Alegre, Joaquín, 2007. "Analysing the link between export intensity, innovation and firm size in a science-based industry," International Business Review, Elsevier, vol. 16(3), pages 275-293, June.
    15. Kelley A. Packalen, 2007. "Complementing Capital: The Role of Status, Demographic Features, and Social Capital in Founding Teams’ Abilities to Obtain Resources," Entrepreneurship Theory and Practice, , vol. 31(6), pages 873-891, November.
    16. Moses Acquaah & Tailan Chi, 2007. "A longitudinal analysis of the impact of firm resources and industry characteristics on firm-specific profitability," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 11(3), pages 179-213, September.
    17. Coombs, Joseph E. & Mudambi, Ram & Deeds, David L., 2006. "An examination of the investments in U.S. biotechnology firms by foreign and domestic corporate partners," Journal of Business Venturing, Elsevier, vol. 21(4), pages 405-428, July.
    18. Zacharakis, Andrew L. & Meyer, G. Dale, 2000. "The potential of actuarial decision models: Can they improve the venture capital investment decision?," Journal of Business Venturing, Elsevier, vol. 15(4), pages 323-346, July.
    19. Douglas Cumming & Satish Kumar & Weng Marc Lim & Nitesh Pandey, 2023. "Mapping the venture capital and private equity research: a bibliometric review and future research agenda," Small Business Economics, Springer, vol. 61(1), pages 173-221, June.
    20. Tarek Miloud & Arild Aspelund & Mathieu Cabrol, 2012. "Startup valuation by venture capitalists: an empirical study," Post-Print hal-00951664, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:62:y:2009:i:1:p:93-103. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.