Why corporate venture capital funds fail -- evidence from the European energy industry
AbstractCorporate venture capital (CVC) is an important concept for large firms to manage innovation. CVC has been pioneered by major companies in the information technology, telecommunications and pharmaceutical industries. In 1999-2001, many large energy companies had launched CVC funds. In the most recent past, however, many energy companies have discontinued their activities, leading to what might be called the 'sudden death syndrome' of CVC in this industry. Our qualitative research suggests that one factor that has played an important role in the failure of CVC funds, and has largely been overlooked in previous research, is parent firm organisational culture. We develop a conceptual model that explains the relationship between organisational culture and CVC fund survival, including the moderating roles of decision-making practices in organisations and parent firm skills in managing and measuring success. Our findings are based on 27 qualitative in-depth interviews with corporate and independent VCs in the energy industry.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Inderscience Enterprises Ltd in its journal World Review of Entrepreneurship, Management and Sustainable Development.
Volume (Year): 5 (2009)
Issue (Month): 4 (January)
Contact details of provider:
Web page: http://inderscience.metapress.com/link.asp?target=journal&id=119806
corporate venturing; innovation management; corporate venture capital; CVC funds; sustainable development; entrepreneurship; renewable energy; climate change; sustainability; energy companies; parent firms; organisational culture; Europe;
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ian Winship) or (Christopher F. Baum).
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.