Coopetition in corporate venture capital: the relationship between network attributes, corporate innovativeness, and financial performance
by Ronny Baierl; Sergey Anokhin; Dietmar Grichnik
International Journal of Technology Management (IJTM), Vol. 71, No. 1/2, 2016

Abstract: We analyse corporate venture capital (CVC) as a characteristic form of coopetition. In doing so, we apply the network perspective and examine the influence of three important network attributes - namely centrality, subgroups, and structural holes - on a coopetitor's innovativeness and subsequent financial performance. We test our hypotheses with the data from CVC investments of 162 corporations operating in a variety of industries over the course of six years. Our results show that a coopetitor's centrality in the respective CVC network positively affects corporate innovativeness, whereas belonging to a restricted subgroup suppresses innovativeness. In turn, innovativeness is positively related to subsequent financial performance. Thus, by strategically managing its position in a CVC network, coopetitors increase their own innovativeness that lead to superior financial outcomes.

Online publication date:: Sat, 30-Jul-2016

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