The process of relational rent generation in corporate venture capital investments
by Christiana Weber; Virgil Raibulet; Boris Bauke
International Journal of Entrepreneurial Venturing (IJEV), Vol. 8, No. 1, 2016

Abstract: This paper investigates the process of relational rent generation in the context of corporate venture capital investments. Our findings show that creation of relational rent follows a sequential three-phase process with: 1) a determinant phase, defining potential rent generation through the presence of complementary resources and capabilities; 2) a socialisation phase, connecting this fundament to the rent generating 'engine'; and it is supposed to carry; 3) an actual rent generating phase, characterised by the ability to leverage complementarities inherent to the relationship, effective self-enforcement rather than third-party enforcement governance mechanisms, as well as a set-up providing incentives to encourage transparency and discourage free-riding. Moreover, we find the constructs within the phases to be complexly interrelated and identify a feedback loop between the first and the third phases.

Online publication date: Thu, 28-Jan-2016

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