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Corporate venture capital: The role of governance factors

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  • Anokhin, Sergey
  • Peck, Simon
  • Wincent, Joakim

Abstract

Research on corporate venture capital (CVC) has consistently proven its importance for innovation and other strategic goals, yet information on the antecedents of CVC activity is scarce. This study provides theoretical arguments for the role of governance factors including board, CEO, and institutional ownership characteristics. Empirical evidence from an international sample of global CVC investments shows that factors such as having a board with multiple board mandates and institutional ownership are important factors for CVC activity. The conclusion is that the role of governance factors is important, and that subsequent research should not ignore this group of factors.

Suggested Citation

  • Anokhin, Sergey & Peck, Simon & Wincent, Joakim, 2016. "Corporate venture capital: The role of governance factors," Journal of Business Research, Elsevier, vol. 69(11), pages 4744-4749.
    • Handle: RePEc:eee:jbrese:v:69:y:2016:i:11:p:4744-4749
    DOI: 10.1016/j.jbusres.2016.04.024
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    References listed on IDEAS

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    5. Haslanger, Patrick, 2019. "The landscape of corporate venturing in Germany: Insights on corporate venture capitals and corporate accelerators," UO Working Papers 01-19, University of Augsburg, Chair of Management and Organization.
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    10. Morgan, Todd & Anokhin, Sergey & Wincent, Joakim, 2018. "When the fog dissipates: The choice between value creation and value appropriation in a partner as a function of information asymmetry," Journal of Business Research, Elsevier, vol. 88(C), pages 498-504.
    11. Anokhin, Sergey Alexander & Morgan, Todd, 2023. "CEO duality and tenure, and the adoption of goal ambidexterity in corporate venture capital," Journal of Business Venturing Insights, Elsevier, vol. 19(C).
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