The impact of independent and heterogeneous corporate venture capital on firm efficiency

Balz, Frank P.; Brinkmann, Florian; Kanbach, Dominik K.

doi:10.1016/j.jbvi.2023.e00384

Journal of Business Venturing Insights

2023

DOI: 10.1016/j.jbvi.2023.e00384

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The impact of independent and heterogeneous corporate venture capital on firm efficiency

Frank P. Balz

Florian Brinkmann

Dominik K. Kanbach

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Cited by 5 publications

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Design dimensions of corporate venture capital programs—a systematic literature review

Frey,

Kanbach

2023

Manag Rev Q

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There is a plethora of research on organisational design elements of corporate venture capital (CVC) programs. However, the fragmented nature of this vein of corporate venturing research has led to an inconsistent picture regarding the organisational design of CVC programs. The goal of this study is to provide a holistic picture for both scholars and practitioners by integrating empirical research on the design of CVC programs. Therefore, the study employs a systematic literature review approach including a sample of 41 studies published from 1987 to 2023. For a systematic assessment of design elements of CVC programs, an inductive concept development approach is used to illustrate four main design dimensions–personnel, corporate relationship management, investment operating model and portfolio relationship management–which reflect 69 descriptive design elements. While previous studies have mainly looked at individual design dimensions of CVC programs from a strategic perspective, this paper presents comprehensive view on organisational structures of CVC programs by identifying building blocks of CVC design according to chosen objectives and available typologies. By specifying and allocating design dimensions to structural types and objectives of CVC programs, this study may also serve as a foundation for further research on the concepts which prevent high rates of early abandonment of CVCs.

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Design dimensions of corporate venture capital programs—a systematic literature review

Frey,

Kanbach

2023

Manag Rev Q

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How venture capital funding changes an entrepreneur’s digital identity: more self-confidence and professionalism but less authenticity!

2023

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An entrepreneur’s digital identity matters for resource acquisition and venture development. However, we know little about the factors that influence or change entrepreneurs’ digital identities. This study explores how entrepreneurs’ digital identities change after a venture capital (VC) funding round. Applying a language-based text analysis to a large sample of tweets from 2,094 US entrepreneurs, we analyze entrepreneurs’ digital identities before and after VC funding. The results of our analysis show that VC funding can impact the entrepreneur’s digital identity in both a positive and a negative way. On the positive side, entrepreneurs increasingly use language indicative of higher self-confidence, positive emotions, and increased professionalism. On the negative side, we find that the entrepreneur’s digital identity loses its authenticity, particularly with high funding amounts raised. The latter can be problematic as authenticity is shown to be a critical resource that entrepreneurs possess to build legitimacy and engage stakeholders in their venture. Our study contributes to research on the consequences of VC funding for entrepreneurs as well as to research on entrepreneurial digital identities. Practical implications exist for entrepreneurs managing their entrepreneurial identities over the course of venture development.

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Innovation at the interface: A configurational approach to corporate venture capital

Schückes,

Unger,

Gutmann

et al. 2025

Journal of Business Venturing

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The impact of independent and heterogeneous corporate venture capital on firm efficiency

Cited by 5 publications

References 41 publications

Design dimensions of corporate venture capital programs—a systematic literature review

Design dimensions of corporate venture capital programs—a systematic literature review

How venture capital funding changes an entrepreneur’s digital identity: more self-confidence and professionalism but less authenticity!

Innovation at the interface: A configurational approach to corporate venture capital

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