Technology spillovers and capital gains in corporate venture capital investments: evidence from the biopharmaceutical industry

Kang, Hyunsung D.; Nanda, Vikram; Park, Haemin D.

doi:10.1080/13691066.2021.1894749

Cited by 6 publications

(10 citation statements)

References 46 publications

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“…Previous work has documented an investor bias against female entrepreneurs (Ewens & Townsend, 2020;Guzman & Kacperczyk, 2019;Hebert, 2020) and that female borrowers face tighter credit availability or less favorable loan terms (Agier & Szafarz, 2013;Alesina, Lotti, & Mistrulli, 2013;Asiedu, Freeman, & Nti-Addae, 2012;Bellucci, Borisov, & Zazzaro, 2010;Mascia & Rossi, 2017;Muravyev, Talavera, & Schäfer, 2009). Recent experimental work has pinpointed to loan officers' gender bias as a source of gender disparities in entrepreneurial finance (Alibhai et al, 2019;Brock & De Haas, 2023;Zhang, 2023). Closest to our study, Brock and De Haas (2023) provide causal evidence for gender discrimination in entrepreneurial lending.…”

Section: Introductionsupporting

confidence: 66%

Gendered Access to Finance: The Role of Team Formation, Idea Quality, and Implementation Constraints in Business Evaluations

Bartos,

Castro,

Czura

et al. 2023

SSRN Journal

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Section: Introductionsupporting

confidence: 66%

Gendered Access to Finance: The Role of Team Formation, Idea Quality, and Implementation Constraints in Business Evaluations

Bartos,

Castro,

Czura

et al. 2023

SSRN Journal

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“…The empirical research determines specific objectives either through interviews (Siegel et al 1988;Kanbach and Stubner 2016;Szalavetz and Sauvage 2023), by the existence of strategic relationships (Kang et al 2021), or by CV outcomes, including patents for strategic objectives or the return on investment (ROI) for financial objectives (Dushnitsky and Lenox 2005;Huang and Madhavan 2021). Also, the relationship between strategic objectives and different CV modes and governance forms within a single mode has been discussed in detail.…”

Section: Prioritization Of Objectives (Primary Objectives)mentioning

confidence: 99%

“…The dimension can be described by multiple factors, including financial support through funding (Pauwels et al 2016;Wang et al 2021), and non-financial support through formal and informal linkages of operations (Burgers et al 2009;Johnson 2012), employee mobility (Kim and Steensma 2017;Cirillo 2019), mentoring, networking, and facility services (Sorrentino and Williams 1995;Kanbach and Stubner 2016;Shankar and Shepherd 2019), which enable synergies between the corporation and the venture (Haslanger et al 2022). Knowledge flow is also commonly represented either as patenting (Di Lorenzo and van de Vrande 2019) or by strategic alliances, such as licensing or collaborative R&D (Gonzales and Ohara 2019;Kang et al 2021). The integrational level is also, for acquisitions, an essential factor influencing the innovation outcomes of young ventures (Puranam et al 2006).…”

Section: Link To the Corporate Firmmentioning

confidence: 99%

Harmonizing corporate venturing dimensions and its characteristics: a systematic analysis

Dall,

Terzidis,

Krooß

2024

Manag Rev Q

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The research literature on Corporate Venturing (CV) has increased over the last few years. While research mainly focuses on analyzing one single CV dimension (e.g. Ambidexterity, etc.) or the interplay between selected dimensions, rarely does research cover and explain all CV dimensions and their characteristics holistically. This paper analyzes the status quo of different CV dimensions and their characteristics. To do so, we identified 100 studies we first used to perform a bibliometric analysis. After that, we executed a conceptual systematic literature review (SLR), updating and extending an existing research paper written by Gutmann (Manag Rev Q 69(2):121–157, 2018). The bibliometric analysis results help objectively evaluate and describe the research landscape and point out leading countries, main keywords, main cited papers, and main research clusters of our CV research. We discovered three new dimensions within our SLR: Relatedness, Time Horizon, and Development Stage. In addition, we show new findings within the 7 CV dimensions described by the existing research paper. Even though the characteristics within each dimension have, to some extent, developed significantly over time, each of the dimensions described in this paper contains substantial new knowledge. e.g. previously the dimension “Link to the corporate firm” mainly covered operational and structural linkages. However, we distinguish these linkages between operational and strategic autonomy.

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“…With the accelerating economic globalization process and the increasingly complex market environment, the biopharmaceutical industry's sustainable development is inseparable from rich knowledge, technology, and other resources [5]. As an effective way for Int.…”

Section: Introductionmentioning

confidence: 99%

“…With the accelerating economic globalization process and the increasingly complex market environment, the biopharmaceutical industry’s sustainable development is inseparable from rich knowledge, technology, and other resources [ 5 ]. As an effective way for firms to acquire diversified knowledge, a knowledge search helps enterprises enrich their knowledge base, improving their competitive advantages [ 6 ].…”

Section: Introductionmentioning

confidence: 99%

Divisive Faultlines and Knowledge Search in Technological Innovation Network: An Empirical Study of Global Biopharmaceutical Firms

Long

Wang

Lou

et al. 2021

IJERPH

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Divisive faultlines caused by the uneven distribution of relationship strength play an essential role in knowledge search in the technological innovation network, which serves as an important requirement for the technological innovation network’s macro level to expand to the meso-subgroup level and promote its healthy development. Given that the biopharmaceutical industry, as a high-tech industry, plays a vital role in promoting healthy development, this paper uses the joint patent applications of global biopharmaceutical firms from 2003 to 2018 as a sample to construct a technological innovation network, to explore the relationship between divisive faultlines and knowledge search in the technological innovation network. We also study the moderating effect of structural holes in this relationship. The empirical results show that divisive faultlines significantly affect the depth of knowledge search in the technological innovation network. Divisive faultlines have an inverted U-shaped effect on the breadth of knowledge search in the technological innovation network. Structural holes positively moderate the relationship between divisive faultlines and depth of knowledge search but negatively moderate the inverted U-shaped relationship between divisive faultlines and breadth of knowledge search. This research reveals the relationship between divisive faultlines and the knowledge search in the technological innovation network. The research results provide a theoretical basis and management enlightenment to improve biopharmaceutical firms’ knowledge search ability and promote healthy and sustainable development.

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Technology spillovers and capital gains in corporate venture capital investments: evidence from the biopharmaceutical industry

Cited by 6 publications

References 46 publications

Gendered Access to Finance: The Role of Team Formation, Idea Quality, and Implementation Constraints in Business Evaluations

Gendered Access to Finance: The Role of Team Formation, Idea Quality, and Implementation Constraints in Business Evaluations

Harmonizing corporate venturing dimensions and its characteristics: a systematic analysis

Divisive Faultlines and Knowledge Search in Technological Innovation Network: An Empirical Study of Global Biopharmaceutical Firms

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