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Additivity and complementarity in external technology sourcing: The added value of corporate venture capital investments

Author

Listed:
  • Van de Vrande, Vareska
  • Vanhaverbeke, Wim
  • Duysters, Geert

Abstract

Innovating firms often invest in a number of different technology projects, in different stages of development, using a wide range of distinct technology sourcing modes, such as strategic alliances, joint ventures, and mergers and acquisitions. Recently, firms have also gained an increasing awareness of the potential benefits of corporate venture capital investments. This paper investigates the particular role of corporate venture capital investments in the technology-sourcing portfolio of firms. More specifically, we focus on the extent to which corporate venture capital investments are additive or complementary to other modes of technology sourcing when explaining the innovative performance of firms. The results indicate that corporate venture capital investments are particularly beneficial for the innovative performance of firms when they are used in combination with other technology sourcing modes.

Suggested Citation

  • Van de Vrande, Vareska & Vanhaverbeke, Wim & Duysters, Geert, 2009. "Additivity and complementarity in external technology sourcing: The added value of corporate venture capital investments," MPRA Paper 26419, University Library of Munich, Germany, revised 2010.
  • Handle: RePEc:pra:mprapa:26419
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    File URL: https://mpra.ub.uni-muenchen.de/26419/1/MPRA_paper_26419.pdf
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    More about this item

    Keywords

    external technology sourcing; open innovation; corporate venture capital investments; strategic alliances; M&As; complementarity;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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