Authors: Christiana Weber; Virgil Raibulet; Boris Bauke
Addresses: Institut für Unternehmensführung und Organisation, Leibnitz Universität Hannover, Germany ' Institut für Unternehmensführung und Organisation, Leibnitz Universität Hannover, Germany ' Institut für Unternehmensführung und Organisation, Leibnitz Universität Hannover, Germany
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.
Keywords: corporate venture capital; CVC; relational view; dyads; sequential process; qualitative research; relational rent generation; corporate investment; case study; innovation management; value generation; complementary resources; complementary capabilities; socialisation; self-enforcement; transparency incentives.
International Journal of Entrepreneurial Venturing, 2016 Vol.8 No.1, pp.62 - 83
Available online: 28 Jan 2016 *Full-text access for editors Access for subscribers Purchase this article Comment on this article