Tianxu Chen, Jianhong Chen, Danny Miller, Isabelle Le Breton-Miller, Ming-Jer Chen
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引用次数: 0
Abstract
This study views corporate venture capital (CVC) investment as a form of inter-firm rivalry. Adopting a competitive dynamics perspective, we argue that when a focal corporate investor invests in an entrepreneurial venture, that investment sends important competitive signals to its rivals, thereby increasing their likelihood of initiating a matching response. We theorize how three factors characterizing such investment—the amount of funding, industry relatedness between the corporate investor and the entrepreneurial venture, and the reputation of the corporate investor—can influence rivals' awareness of competitive threat, their motivation to respond, and therefore their likelihood of launching a matching counterattack. Our results demonstrate substantial support for our theoretical model.
期刊介绍：
The Strategic Entrepreneurship Journal is a research journal that publishes original work recommended by a developmental, double-blind review process conducted by peer scholars. Strategic entrepreneurship involves innovation and subsequent changes which add value to society and which change societal life in ways which have significant, sustainable, and durable consequences. The SEJ is international in scope and acknowledges theory- and evidence-based research conducted and/or applied in all regions of the world. It is devoted to content and quality standards based on scientific method, relevant theory, tested or testable propositions, and appropriate data and evidence, all replicable by others, and all representing original contributions. The SEJ values contributions which lead to improved practice of managing organizations as they deal with the entrepreneurial process involving imagination, insight, invention, and innovation and the inevitable changes and transformations that result and benefit society.
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