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Le rôle des capital-risqueurs dans l'isomorphisme stratégique des "biotechs"


  • Emmanuelle Dubocage

    () (Université de Paris-Sud)

  • Géraldine Galindo

    () (Université de Paris-Sud)


(VF)Grâce à une démarche exploratoire hybride, nous montrons comment, par leur intervention active dans la gestion, les capital-risqueurs gèrent les incertitudes radicales sur le devenir des jeunes entreprises innovantes de haute technologie (JEIHT) de biotechnologie. Cette intervention dans la gestion débouche sur l'isomorphisme stratégique de ces entreprises vers un modèle combinant recherche de produits et/ou de techniques, d'une part, et vente de services, d'autre part. L'origine de cet isomorphisme réside dans le mimétisme des entreprises mais également dans celui des capital-risqueurs. Enfin, nous discutons des conséquences de ce phénomène en termes de performance pour les entreprises.(VA)In this exploratory study, we show how ventrue capitaliste manage the radical uncertainties concerning the future of young innovative high-tech biotechnology tirms (JEIHT) through their active involvement in management. VCs' impact on management leads to strategic isomorphism of biotech firme towards a model combining research on products and/or technologies on the one hand and service offers, on the other. The origine of this isomorphism lie in the mimetic behavior of the biotech Cirms, as well as in the mimetism of venture capitaliste. Finally, we discuss the consequences of this phenomenon in terme of counpany performance.

Suggested Citation

  • Emmanuelle Dubocage & Géraldine Galindo, 2008. "Le rôle des capital-risqueurs dans l'isomorphisme stratégique des "biotechs"," Revue Finance Contrôle Stratégie,, vol. 11(4), pages 5-30, December.
  • Handle: RePEc:dij:revfcs:v:11:y:2008:i:q4:p:5-30

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    References listed on IDEAS

    1. Bergemann, Dirk & Hege, Ulrich, 1998. "Venture capital financing, moral hazard, and learning," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 703-735, August.
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    3. Rosenstein, Joseph, 1988. "The board and strategy: Venture capital and high technology," Journal of Business Venturing, Elsevier, vol. 3(2), pages 159-170.
    4. Paul Gompers & Josh Lerner, 2006. "The Venture Capital Cycle, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262572389, January.
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    6. Cornelli, F. & Yosha, O., 1997. "Stage Financing and the Role of Convertible Debt," Papers 23-97, Tel Aviv.
    7. Cornelli, Francesca & Yosha, Oved, 1997. "Stage Financing and the Role of Convertible Debt," CEPR Discussion Papers 1735, C.E.P.R. Discussion Papers.
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    More about this item


    biotechnologie; capital-risque; isomorphisme stratégique; mimétisme; performance; biotechnology; venture-capital; strategic isomorphism; mimetism; performance.;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm


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