The Determinants Of Corporate Venture Capital Success

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The Determinants of Corporate Venture Capital Success

Author : Paul Alan Gompers
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Determinants of Corporate Venture Capital Success by : Paul Alan Gompers

Download or read book The Determinants of Corporate Venture Capital Success written by Paul Alan Gompers and published by . This book was released on 1998 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine a sample of over thirty-thousand transactions by corporate and other venture organizations. Corporateventure investments in entrepreneurial firms appear to be at least as successful (using such measures as the probability of the portfolio firm going public) as those backed by independent venture organizations, particularly when there is astrategic overlap between the corporate parent and the portfolio firm. While corporate venture capitalists tend to invest at a premium to other firms, this premium appears to be no higher in investments with a strong strategic fit. Finally, corporate programs without a strong strategic focus appear to be much less stable, frequently ceasing operations after only a few investments, but strategically focused programs appear to be as stable as independent venture organizations. The evidence is consistent with the existence of complementarities that allow corporations to effectively select and add value to portfolio firms, but is somewhat at odds with suggestions that the structure of corporate venture funds limits their effectiveness.

Concentrated Corporate Ownership

Author : Randall K. Morck
Publisher : University of Chicago Press
ISBN 13 : 0226536823
Total Pages : 404 pages
Book Rating : 4.2/5 (265 download)

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Book Synopsis Concentrated Corporate Ownership by : Randall K. Morck

Download or read book Concentrated Corporate Ownership written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-12-01 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard economic models assume that many small investors own firms. This is so in most large U.S. firms, but wealthy individuals or families generally hold controlling blocks in smaller U.S. firms and in all firms in most other countries. Given this, the lack of theoretical and empirical work on tightly held firms is surprising. What corporate governance problems arise in tightly held firms? How do these differ from corporate governance problems in widely held firms? How do control blocks arise and how are they maintained? How does concentrated ownership affect economic growth? How should we regulate tightly held firms? Drawing together leading scholars from law, economics, and finance, this volume examines the economic and legal issues of concentrated ownership and their impact on a shifting global economy.

Corporate Entrepreneurship and Venturing

Author : Tom Elfring
Publisher : Springer Science & Business Media
ISBN 13 : 0387248501
Total Pages : 167 pages
Book Rating : 4.3/5 (872 download)

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Book Synopsis Corporate Entrepreneurship and Venturing by : Tom Elfring

Download or read book Corporate Entrepreneurship and Venturing written by Tom Elfring and published by Springer Science & Business Media. This book was released on 2006-01-25 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Entrepreneurship and Venturing is positioned at the crossroads of the strategy and entrepreneurship fields. The common theme is how and why corporate entrepreneurship and corporate venturing can contribute to innovation and strategic renewal in large established companies, in particular it explores ways to balance exploitation and exploration in established companies. The issue is how the locus of entrepreneurship affects the way corporate entrepreneurship addresses the exploitation/exploration challenge. In some chapters corporate entrepreneurship is dispersed across the organization and they examine the key elements of an entrepreneurial culture and the organizational conditions that are favorable to entrepreneurial initiatives. The other chapters contribute to the discussion on the potential role of corporate venturing which is separated from the main parts of the organization. They examine the advantages and disadvantages of corporate venture capital programs as particular forms of focused corporate entrepreneurship.

Initiating Successful Corporate Venture Capital Investments

Author : Ian C. Yates
Publisher : Forgotten Books
ISBN 13 : 9781330302620
Total Pages : 49 pages
Book Rating : 4.3/5 (26 download)

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Book Synopsis Initiating Successful Corporate Venture Capital Investments by : Ian C. Yates

Download or read book Initiating Successful Corporate Venture Capital Investments written by Ian C. Yates and published by Forgotten Books. This book was released on 2015-06-24 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Initiating Successful Corporate Venture Capital Investments Abstract 49 large U.S. corporations that make corporate venture capital (CVC) investments as part of their new business development strategies were studied. Venture capital firms were found to be the key deal source of the more successful CVCs. Market familiarity was found to be even more important than technological familiarity in initiating strategically successful investments in small enterprises. Later round investments performed better strategically than did early round financings. CVC financial success flows from its strategic success, which in turn is influenced favorably by strategic focus. Executive Summary The strategies of 49 large U.S. corporations using corporate venture capital (CVC) for new business development were studied and evaluated. Venture capital firms were found to be the key deal source for CVCs making investments in small ventures that the CVCs judge to be successful strategically. Successful CVCs frequently first invest in venture capital funds as a venture capital limited partner, then take a more proactive long-run approach by investing side-by-side with private venture capitalists directly in start-ups. Corporate familiarity with the ventures market was found to be more important in determining strategic success than familiarity with the venture's technology. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

The Venture Capital Cycle

Author : Paul Alan Gompers
Publisher : MIT Press
ISBN 13 : 9780262072557
Total Pages : 592 pages
Book Rating : 4.0/5 (725 download)

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Book Synopsis The Venture Capital Cycle by : Paul Alan Gompers

Download or read book The Venture Capital Cycle written by Paul Alan Gompers and published by MIT Press. This book was released on 2004 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the venture capital process, from fund-raising through investing to exiting investments; a new edition with major revisions and six new chapters that reflect the latest research.

Corporate Venture Capital

Author : Kevin McNally
Publisher : Routledge
ISBN 13 : 1134733631
Total Pages : 349 pages
Book Rating : 4.1/5 (347 download)

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Book Synopsis Corporate Venture Capital by : Kevin McNally

Download or read book Corporate Venture Capital written by Kevin McNally and published by Routledge. This book was released on 1997-07-10 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the lack of academic and practical research into corporate venturing by examining the role of this activity as both a form of large firm-small firm collaboration and as an alternative source of equity finance for small firms. These issues are explored through surveys of independent fund managers, coporate executives and technolo

The Money of Invention

Author : Paul Alan Gompers
Publisher : Harvard Business Press
ISBN 13 : 9781578513260
Total Pages : 282 pages
Book Rating : 4.5/5 (132 download)

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Book Synopsis The Money of Invention by : Paul Alan Gompers

Download or read book The Money of Invention written by Paul Alan Gompers and published by Harvard Business Press. This book was released on 2001 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the economy was booming and dot-coms were flying high, venture capitalists were admired as impresarios of innovation. Then the market tanked, start-ups fizzled, and those same deal-makers were rebuked as predators out for a quick score. So which portrayal is accurate? Where is this much-hyped industry heading? And what will it mean for the future of innovation in the global economy? In this definitive book, industry experts Paul Gompers and Josh Lerner provide the first cool-headed explanation of the venture capital industry and the role it plays in our economy. They underscore that, regardless of the economic conditions, innovation is incredibly difficult to finance, take to market, and translate into value. While venture capital has evolved to address these problems-the industry has fueled innovation, economic growth, and wealth creation for decades-features of the venture industry have left it vulnerable to boom-and-bust cycles. In the near future, say the authors, the industry must transform dramatically, with important implications for industry players and the entrepreneurs and organizations they serve. Drawing from compelling research and industry "war stories," Gompers and Lerner present a series of practical frameworks for understanding the relationships among venture capital, innovation, and entrepreneurial success. They demystify how the venture capital world operates, and outline the opportunities and obstacles faced by all players in this evolving arena. They explore: · The problems entrepreneurs encounter in securing financing, and how the venture capital model can help innovators to resolve them · How venture capitalists can effectively pursue promising opportunities while building a sustainable franchise · How corporations, nonprofits, and government institutions can harness the power-and avoid the pitfalls-of the venture capital model when applying it in their own sectors Whether the industry is enjoying an incredible growth spurt or weathering an economic slowdown, readers will find this book an immensely practical guide to leveraging the venture capital model to turn innovation into value. Paul A. Gompersis a Professor of Business Administration and a Director of Research at Harvard Business School.Josh Lerneris a Professor of Business Administration at Harvard Business School. Both authors live in the Boston area.

Venture Capital, Corporate Governance, and Firm Value

Author : Maik Kleinschmidt
Publisher : Springer Science & Business Media
ISBN 13 : 3835095498
Total Pages : 297 pages
Book Rating : 4.8/5 (35 download)

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Book Synopsis Venture Capital, Corporate Governance, and Firm Value by : Maik Kleinschmidt

Download or read book Venture Capital, Corporate Governance, and Firm Value written by Maik Kleinschmidt and published by Springer Science & Business Media. This book was released on 2007-11-09 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maik Kleinschmidt explores the determinants of venture capitalists’ influence as well as their impact on the corporate governance of portfolio companies and analyses the influence of corporate governance on the companies’ firm value. His findings support the hypothesis that venture capitalists improve the corporate governance of their portfolio companies and that their abilities determine their impact. Moreover, they show the positive impact of good corporate governance on some measures for firm value.

The Impact of Corporate Venture Capital

Author : Timo B. Poser
Publisher : Springer Science & Business Media
ISBN 13 : 3322814688
Total Pages : 311 pages
Book Rating : 4.3/5 (228 download)

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Book Synopsis The Impact of Corporate Venture Capital by : Timo B. Poser

Download or read book The Impact of Corporate Venture Capital written by Timo B. Poser and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timo B. Poser shows that Corporate Venture Capital offers a broad set of advantages, but has a limited impact on sustainable competitive advantage of the investing firm.

The Oxford Handbook of Venture Capital

Author : Douglas Cumming
Publisher : Oxford University Press
ISBN 13 : 019992094X
Total Pages : 1056 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis The Oxford Handbook of Venture Capital by : Douglas Cumming

Download or read book The Oxford Handbook of Venture Capital written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-04-24 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture capital (VC) refers to investments provided to early-stage, innovative, and high growth start-up companies. A common characteristic of all venture capital investments is that investee companies do not have cash flows to pay interest on debt or dividends on equity. Rather, investments are made with a view towards capital gain on exit. The most sought after exit routes are an initial public offering (IPO), where a company lists on a stock exchange for the first time, and an acquisition exit (trade sale), where the company is sold in entirety to another company. However, VCs often exit their investments by secondary sales, wherein the entrepreneur retains his or her share but the VC sells to another company or investor buybacks, where the entrepreneur repurchases the VC`s interest and write-offs (liquidations). The Oxford Handbook of Venture Capital provides a comprehensive picture of all the issues dealing with the structure, governance, and performance of venture capital from a global perspective. The handbook comprises contributions from 55 authors currently based in 12 different countries.

The Architecture of Innovation

Author : Josh Lerner
Publisher : OUP Oxford
ISBN 13 : 0191645966
Total Pages : 220 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Architecture of Innovation by : Josh Lerner

Download or read book The Architecture of Innovation written by Josh Lerner and published by OUP Oxford. This book was released on 2012-09-06 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The developed world is struggling with unsustainable promises and unappealing choices, and sustained economic growth represents one of the few ways out. And over the centuries, growth in advanced economies has been strongly linked to innovation. Despite the vast amounts written about innovation over the years, understanding of its drivers remains surprisingly limited. This book, by top Harvard Business School professor Josh Lerner, seeks to remedy this shortfall. It highlights that while organizational economists have made strides in understanding what combinations of incentives and organization structure can encourage innovative breakthroughs, many of these insights have not yet received the attention they deserve in the real world, or been developed in ways that can easily be applied in real situations. The author focuses on two models for encouraging innovation, the corporate research laboratory and the start-up. Each model, while proven and successful, also faces significant challenges and ambiguities. A central argument is that there remains considerable potential for hybrids between these two approaches. This book draws on important research in economics and reviews different approaches to innovation, combining this with a series of case examples to explore the challenges that face start up firms, large firms, and nations. It is essential reading for anybody faced with the challenge of innovation.

Masters of Corporate Venture Capital

Author : Andrew Romans
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781530088690
Total Pages : 280 pages
Book Rating : 4.0/5 (886 download)

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Book Synopsis Masters of Corporate Venture Capital by : Andrew Romans

Download or read book Masters of Corporate Venture Capital written by Andrew Romans and published by Createspace Independent Publishing Platform. This book was released on 2016-08-18 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Andrew Romans captured wisdom from interviews with 100+ Corporate Venture Capitalists (CVCs), independent VCs, CEOs of startups, bankers and lawyers to write the definitive book on the topic of CVC. Masters of Corporate Venture Capital is packed with invaluable advice about how to best raise capital from CVCs, unlock synergies of partnering startups with large corporations for rapid international growth and avoid potential disasters and other dangers related to CVC.More than 20% of all Venture Capital financings include at least one CVC and thus startups need to understand this previously misunderstood area of funding. Corporations need to establish their own CVC arms to access external innovation and learn how to bring this inside via VC investing, partnerships and M&A. We work in a very complex ecosystem and this book captures stories that bring the complexity to life with simple lessons.This book is for:* Entrepreneurs* VCs* Angel investors* Family offices* CVCs* Corporates thinking about launching a CVC* Anyone advising startups.

The Oxford Handbook of Entrepreneurship

Author : Mark Casson
Publisher : OUP Oxford
ISBN 13 : 0199546991
Total Pages : 810 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis The Oxford Handbook of Entrepreneurship by : Mark Casson

Download or read book The Oxford Handbook of Entrepreneurship written by Mark Casson and published by OUP Oxford. This book was released on 2008 with total page 810 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurship is a key factor in economic growth, innovation, & the development of firms & businesses. Written by leading scholars, this book presents a comprehensive review of the research in entrepreneurship.

Venture Capital

Author : Douglas Cumming
Publisher : John Wiley & Sons
ISBN 13 : 0470599758
Total Pages : 604 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Venture Capital by : Douglas Cumming

Download or read book Venture Capital written by Douglas Cumming and published by John Wiley & Sons. This book was released on 2010-04-29 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to venture capital Studies have shown that venture capital backed entrepreneurial firms are on average significantly more successful than non-venture capital backed entrepreneurial firms in terms of innovativeness, profitability, and share price performance upon going public. Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This reliable resource provides a comprehensive view of venture capital by describing the current state of research and best practices in this arena. Issues addressed include sources of capital-such as angel investment, corporate funds, and government funds-financial contracts and monitoring, and the efficiency implications of VC investment, to name a few. Opens with a review of alternative forms of venture capital Highlights the structure of venture capital investments Examines the role venture capitalists play in adding value to their investee firms This informative guide will help you discover the true potential of venture capital.

Handbook of Research on Corporate Entrepreneurship

Author : Shaker A. Zahra
Publisher : Edward Elgar Publishing
ISBN 13 : 1785368737
Total Pages : 336 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis Handbook of Research on Corporate Entrepreneurship by : Shaker A. Zahra

Download or read book Handbook of Research on Corporate Entrepreneurship written by Shaker A. Zahra and published by Edward Elgar Publishing. This book was released on 2016-12-30 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate entrepreneurship is about remaking organizations; it affects organizational cultures and systems, which, in turn, influence the magnitude, direction and content of corporate entrepreneurship activities. This Handbook hopes to synthesize what we know and clarify what we need to know about key issues such as strategic renewal, innovation and venturing activities within established companies, giving direction to future research.

De Gruyter Handbook of Entrepreneurial Finance

Author : David Lingelbach
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110726351
Total Pages : 340 pages
Book Rating : 4.1/5 (17 download)

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Book Synopsis De Gruyter Handbook of Entrepreneurial Finance by : David Lingelbach

Download or read book De Gruyter Handbook of Entrepreneurial Finance written by David Lingelbach and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-05-09 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: As of early 2022, seven of the ten largest firms in the world by market capitalization had been funded through various types of entrepreneurial finance. This handbook provides an up-to-date survey of what we know about this significant phenomenon in all its forms, and where our knowledge about it needs to head from here. The handbook embraces a wide range of established and emerging academic and practitioner voices across the globe to explore the theoretical and practical flux and tension in the field. Until recently, most studies have taken a supply side perspective, focusing on the perspective of those who provide funding to new ventures. This book takes a different, demand side perspective, beginning with the entrepreneur and gradually broadening our view to include close by and then more distant funding sources. Following this approach, it is organized into four parts detailing the individual level (founders’ resources, bricolage and bootstrapping, effectuation and portfolio entrepreneurship); the inner circle (informal financing, business groups, incubators and accelerators); the wider world (formal debt, microfinance, venture capital, corporate venture capital, business angels, government funding and family offices); and emerging perspectives (non-Western perspectives, gender, indigenous perspectives, post-conflict and disaster zones and ethics). The introduction considers the general state of the field, while the conclusion takes on additional topics relevant to entrepreneurial finance, such as decentralized finance, big data, behavioral economics, financial innovation and COVID-19, as well as possible ways in which entrepreneurial finance can have a greater impact on other disciplines. This handbook will be a core reference work for researchers, practitioners, and policy makers seeking an up-to-date academic survey of entrepreneurial finance. It can also be used as a primary text in Ph.D. seminars in entrepreneurship, entrepreneurial finance, and finance. Instructors in Master’s level courses in entrepreneurial finance and venture capital will also find the book of benefit.

Venture Capital in the Changing World of Entrepreneurship

Author : John E. Butler
Publisher : IAP
ISBN 13 : 1607525178
Total Pages : 277 pages
Book Rating : 4.6/5 (75 download)

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Book Synopsis Venture Capital in the Changing World of Entrepreneurship by : John E. Butler

Download or read book Venture Capital in the Changing World of Entrepreneurship written by John E. Butler and published by IAP. This book was released on 2006-03-01 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: It was not that long ago that it might have been possible to cover the topic of venture capital in one paper. Now, it is not possible to provide comprehensive coverage in even one book. The industry has flourished, as variations of he initial venture capital funds have been developed and now operates in most developing and developed economies. This is clearly reflected in this volume, which has a strong focus on Europe and Asia. Each of the papers is a stand alone effort. However, a full reading of the volume provides a panoramic picture of the global extent of venture capital, some of its challenges, and the likely direction of future efforts. Venture capital and the venture capitalist have been shown to have a positive impact on performance in many cases. This is clearly the reason why some many emerging economies want to increase the level of venture capital investment in their country.