Pub Date : 2025-12-19DOI: 10.1016/j.respol.2025.105399
Seungil Lee , Jungsoo Park
This study examines the impact of digital transformation technology (DTT) adoption on individual worker wages using Korean worker panel data from 2017 to 2022. Using industry-level DTT adoption rates, we investigate how DTT adoption affects wages across various task types and industries. Our findings reveal a statistically significant wage reduction effect of DTT adoption in both the manufacturing and non-manufacturing sectors. We observe nuanced effects across different task types, with cognitive tasks experiencing more significant wage reductions than manual tasks. Furthermore, older and less educated workers face greater wage reductions. Our study contributes to the understanding of the labor market implications of technological advancements.
{"title":"Impact of digital transformation technology adoption on worker wages","authors":"Seungil Lee , Jungsoo Park","doi":"10.1016/j.respol.2025.105399","DOIUrl":"10.1016/j.respol.2025.105399","url":null,"abstract":"<div><div>This study examines the impact of digital transformation technology (DTT) adoption on individual worker wages using Korean worker panel data from 2017 to 2022. Using industry-level DTT adoption rates, we investigate how DTT adoption affects wages across various task types and industries. Our findings reveal a statistically significant wage reduction effect of DTT adoption in both the manufacturing and non-manufacturing sectors. We observe nuanced effects across different task types, with cognitive tasks experiencing more significant wage reductions than manual tasks. Furthermore, older and less educated workers face greater wage reductions. Our study contributes to the understanding of the labor market implications of technological advancements.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105399"},"PeriodicalIF":8.0,"publicationDate":"2025-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145796788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-17DOI: 10.1016/j.respol.2025.105396
Jun Hou
Using firm-level data from 41 countries, this study investigates how resource-constrained firms can strengthen their resilience to resist the COVID-19 crisis through non-R&D induced innovation. The empirical results show that firms in Middle- and Low-income countries, where access to government aid is often constrained, can enhance their survival prospects by internally upgrading their learning and adaptive capabilities. Specifically, non-R&D induced innovation can effectively substitute for insufficient government financial support by enabling firms to adjust operations and maintain competitiveness during the Covid-19 pandemic. The findings emphasise the importance of jointly considering government support and innovation in firm survival analyses, as omitting either factor may introduce potential omitted variable bias. To address this, supervised learning approaches are employed to predict whether firms that exited had received government support prior to closure. In addition, this study advances the literature by uncovering the complementary roles of innovation and government financial interventions, and highlights context-specific strategies that policymakers should adopt to improve firm resilience amid external shocks.
{"title":"The survival effects of non-R&D induced innovation during crisis","authors":"Jun Hou","doi":"10.1016/j.respol.2025.105396","DOIUrl":"10.1016/j.respol.2025.105396","url":null,"abstract":"<div><div>Using firm-level data from 41 countries, this study investigates how resource-constrained firms can strengthen their resilience to resist the COVID-19 crisis through non-R&D induced innovation. The empirical results show that firms in Middle- and Low-income countries, where access to government aid is often constrained, can enhance their survival prospects by internally upgrading their learning and adaptive capabilities. Specifically, non-R&D induced innovation can effectively substitute for insufficient government financial support by enabling firms to adjust operations and maintain competitiveness during the Covid-19 pandemic. The findings emphasise the importance of jointly considering government support and innovation in firm survival analyses, as omitting either factor may introduce potential omitted variable bias. To address this, supervised learning approaches are employed to predict whether firms that exited had received government support prior to closure. In addition, this study advances the literature by uncovering the complementary roles of innovation and government financial interventions, and highlights context-specific strategies that policymakers should adopt to improve firm resilience amid external shocks.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105396"},"PeriodicalIF":8.0,"publicationDate":"2025-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145796612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-15DOI: 10.1016/j.respol.2025.105392
Lingling Qin , Sunny Li Sun
How can suppliers leverage global value chains (GVCs) to enhance innovation impact and capture value? We conceptualize GVCs as distributed innovation systems (DIS) that facilitate the dispersion and flow of knowledge among diverse actors within the chain. This dynamic fosters knowledge dependence among GVC actors, reshaping the innovation process and influencing both innovation outcomes and value capture. By examining suppliers' knowledge dependence on a lead firm such as Apple, and on other suppliers, we identify a positive relationship between knowledge dependence and suppliers' innovation impact. Additionally, we introduce the moderating role of the ease of knowledge combination, demonstrating how it interacts with knowledge dependence to influence innovation outcomes. Our findings reveal that focal suppliers achieve greater innovation impact when they develop knowledge dependence on a lead firm or other GVC suppliers. We uncover an inverted U-shaped relationship between knowledge dependence on a lead firm and focal suppliers' value capture, indicating that optimal outcomes occur when suppliers maintain a balanced level of dependence. However, we find no evidence of a positive relationship between focal suppliers' value capture and their knowledge dependence on other suppliers. These findings advance understanding of knowledge dependence, distributed innovation, and value appropriation within GVCs.
{"title":"Knowledge dependence in global value chains","authors":"Lingling Qin , Sunny Li Sun","doi":"10.1016/j.respol.2025.105392","DOIUrl":"10.1016/j.respol.2025.105392","url":null,"abstract":"<div><div>How can suppliers leverage global value chains (GVCs) to enhance innovation impact and capture value? We conceptualize GVCs as distributed innovation systems (DIS) that facilitate the dispersion and flow of knowledge among diverse actors within the chain. This dynamic fosters knowledge dependence among GVC actors, reshaping the innovation process and influencing both innovation outcomes and value capture. By examining suppliers' knowledge dependence on a lead firm such as Apple, and on other suppliers, we identify a positive relationship between knowledge dependence and suppliers' innovation impact. Additionally, we introduce the moderating role of the ease of knowledge combination, demonstrating how it interacts with knowledge dependence to influence innovation outcomes. Our findings reveal that focal suppliers achieve greater innovation impact when they develop knowledge dependence on a lead firm or other GVC suppliers. We uncover an inverted U-shaped relationship between knowledge dependence on a lead firm and focal suppliers' value capture, indicating that optimal outcomes occur when suppliers maintain a balanced level of dependence. However, we find no evidence of a positive relationship between focal suppliers' value capture and their knowledge dependence on other suppliers. These findings advance understanding of knowledge dependence, distributed innovation, and value appropriation within GVCs.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105392"},"PeriodicalIF":8.0,"publicationDate":"2025-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145796614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-15DOI: 10.1016/j.respol.2025.105401
Marc Joëts , Valérie Mignon
This article investigates the persistent impact of zombie papers, i.e., flawed publications—either already retracted or likely to be retracted—that continue to circulate within the academic system despite their discredited or discreditable status. Drawing on a large sample of 25,480 retracted research articles published between 1923 and 2023, we identify the factors that prolong the presence of flawed research in the scientific record before formal retraction. We show that articles retracted for serious misconduct, such as data fabrication, tend to experience longer retraction delays, particularly in contexts where detection mechanisms are weak and editorial or institutional responses are slow. Our findings also reveal significant disparities across geographic regions and disciplines, with under-resourced institutions exhibiting longer retraction delays. Journal practices — such as open-access versus subscription-based models — influence retraction dynamics as well, with subscription-based journals being more effective in implementing timely retractions. In contrast to the existing literature that has mostly documented aggregate citation trends, our study offers a dynamic, multivariate framework for understanding zombie paper survival. Our findings contribute to the growing literature on scientific integrity by revealing how systemic weaknesses in editorial governance and scientific transparency can delay the timely correction of the scientific record. Based on these results, we propose several policy recommendations to reduce zombie paper persistence—emphasizing the need for stronger data transparency requirements, investment in detection tools, and global editorial standards aimed at safeguarding the reliability of scientific knowledge by minimizing the epistemic risks posed by zombie papers.
{"title":"Slaying the undead: How long does it take to kill zombie papers?","authors":"Marc Joëts , Valérie Mignon","doi":"10.1016/j.respol.2025.105401","DOIUrl":"10.1016/j.respol.2025.105401","url":null,"abstract":"<div><div>This article investigates the persistent impact of zombie papers, i.e., flawed publications—either already retracted or likely to be retracted—that continue to circulate within the academic system despite their discredited or discreditable status. Drawing on a large sample of 25,480 retracted research articles published between 1923 and 2023, we identify the factors that prolong the presence of flawed research in the scientific record before formal retraction. We show that articles retracted for serious misconduct, such as data fabrication, tend to experience longer retraction delays, particularly in contexts where detection mechanisms are weak and editorial or institutional responses are slow. Our findings also reveal significant disparities across geographic regions and disciplines, with under-resourced institutions exhibiting longer retraction delays. Journal practices — such as open-access versus subscription-based models — influence retraction dynamics as well, with subscription-based journals being more effective in implementing timely retractions. In contrast to the existing literature that has mostly documented aggregate citation trends, our study offers a dynamic, multivariate framework for understanding zombie paper survival. Our findings contribute to the growing literature on scientific integrity by revealing how systemic weaknesses in editorial governance and scientific transparency can delay the timely correction of the scientific record. Based on these results, we propose several policy recommendations to reduce zombie paper persistence—emphasizing the need for stronger data transparency requirements, investment in detection tools, and global editorial standards aimed at safeguarding the reliability of scientific knowledge by minimizing the epistemic risks posed by zombie papers.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105401"},"PeriodicalIF":8.0,"publicationDate":"2025-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145796615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-13DOI: 10.1016/j.respol.2025.105377
Yang Su , Chris Brooks , Brian Lucey , Andrew Urquhart
Concerns have been raised in the business and management literature regarding the role of journal rating lists. Rather than simply reflecting journal performance, these lists may influence the nature of scholarly work produced and published. This study investigates the impact of upgrades and downgrades and inclusions and removals, respectively, to two widely used journal rating sources – the Academic Journal Guide and the Financial Times List – on author and paper characteristics. We analyse a large sample of articles, spanning all sub-fields in business and management, published over a 12-year period. Our analysis indicates that female authors publish significantly more in journals that experience downgrades or removal from these lists compared to journals that maintain or improve their ratings. We also observe that authors affiliated with African universities are less represented in journals that have newly entered or been upgraded on these lists. However, our findings do not show a significant effect of journal list recompositions on the most commonly employed research methods. We observe that list entry and rating upgrades are associated with significantly improved article readability. Overall, our results contribute to the ongoing discussion regarding the effects of journal lists on publication outcomes, particularly for groups that are already underrepresented in academic publishing.
{"title":"Journal ratings changes: Implications for author diversity and research characteristics","authors":"Yang Su , Chris Brooks , Brian Lucey , Andrew Urquhart","doi":"10.1016/j.respol.2025.105377","DOIUrl":"10.1016/j.respol.2025.105377","url":null,"abstract":"<div><div>Concerns have been raised in the business and management literature regarding the role of journal rating lists. Rather than simply reflecting journal performance, these lists may influence the nature of scholarly work produced and published. This study investigates the impact of upgrades and downgrades and inclusions and removals, respectively, to two widely used journal rating sources – the Academic Journal Guide and the Financial Times List – on author and paper characteristics. We analyse a large sample of articles, spanning all sub-fields in business and management, published over a 12-year period. Our analysis indicates that female authors publish significantly more in journals that experience downgrades or removal from these lists compared to journals that maintain or improve their ratings. We also observe that authors affiliated with African universities are less represented in journals that have newly entered or been upgraded on these lists. However, our findings do not show a significant effect of journal list recompositions on the most commonly employed research methods. We observe that list entry and rating upgrades are associated with significantly improved article readability. Overall, our results contribute to the ongoing discussion regarding the effects of journal lists on publication outcomes, particularly for groups that are already underrepresented in academic publishing.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105377"},"PeriodicalIF":8.0,"publicationDate":"2025-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145747399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-08DOI: 10.1016/j.respol.2025.105391
Bernard Nijstad , Goran Calic , Pedro de Faria , Christoph Grimpe , Olli-Pekka Kauppila
Creativity and innovation, while closely related, are concepts often studied within separate academic traditions. Creativity, rooted in psychology, focuses on micro-level processes, whereas innovation, grounded in economics, management science, and organization theory emphasizes macro-level dynamics. This separation has resulted in limited cross-disciplinary dialogue and a fragmented understanding of their interdependencies. In this paper, we advocate for building metaphorical bridges between creativity and innovation research to foster a more integrated understanding of the production of “the novel and useful” knowledge in organizations. We begin by providing a historical overview of both fields, highlighting their origins, key insights, and methodological approaches. Using a framework that maps four research domains in a two (creativity-innovation) by two (micro-macro) table, we identify existing connections and propose pathways for a more integrated theoretical perspective. We underscore the importance of sustaining these bridges, arguing that such integration is crucial for the continued evolution of both fields. By promoting the integration of separate research streams, we aim to enhance conceptual clarity and address complex challenges that require a holistic approach. This paper introduces the special issue “Connecting Creativity and Innovation Research”, outlining future research directions and showcasing contributions that exemplify and advance this integrative effort.
{"title":"Connecting creativity and innovation research: Building bridges to cross divides","authors":"Bernard Nijstad , Goran Calic , Pedro de Faria , Christoph Grimpe , Olli-Pekka Kauppila","doi":"10.1016/j.respol.2025.105391","DOIUrl":"10.1016/j.respol.2025.105391","url":null,"abstract":"<div><div>Creativity and innovation, while closely related, are concepts often studied within separate academic traditions. Creativity, rooted in psychology, focuses on micro-level processes, whereas innovation, grounded in economics, management science, and organization theory emphasizes macro-level dynamics. This separation has resulted in limited cross-disciplinary dialogue and a fragmented understanding of their interdependencies. In this paper, we advocate for building metaphorical bridges between creativity and innovation research to foster a more integrated understanding of the production of “the novel and useful” knowledge in organizations. We begin by providing a historical overview of both fields, highlighting their origins, key insights, and methodological approaches. Using a framework that maps four research domains in a two (creativity-innovation) by two (micro-macro) table, we identify existing connections and propose pathways for a more integrated theoretical perspective. We underscore the importance of sustaining these bridges, arguing that such integration is crucial for the continued evolution of both fields. By promoting the integration of separate research streams, we aim to enhance conceptual clarity and address complex challenges that require a holistic approach. This paper introduces the special issue “Connecting Creativity and Innovation Research”, outlining future research directions and showcasing contributions that exemplify and advance this integrative effort.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105391"},"PeriodicalIF":8.0,"publicationDate":"2025-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145747401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-08DOI: 10.1016/j.respol.2025.105398
Hoàng Thu Thảo , Huy-Cuong Vo-Thai , Trong Tuan Luu
Considering that an open innovation approach is crucial for green innovation, this study aims to explore the different roles of external search for specialized knowledge sources, specifically market sources and institutional sources, in fostering green new product development (NPD) speed through the dual mediation mechanism and moderating role of absorptive capacity. The data set for testing the relationships among these variables was garnered from 505 managers who worked in Vietnamese manufacturing firms. The results revealed that external search from the two sources of knowledge, namely market sources and institutional sources, exhibits a significant positive association with green NPD speed. Further, the two mediators, including green process innovation and green product innovation, mediate the positive relationship between external search and green NPD speed. The findings also proved the effects of external search from market sources on green process innovation and green product innovation are positively moderated by absorptive capacity (AC). However, AC does not demonstrate a moderating effect when it comes to knowledge obtained from institutional sources in relation to green process innovation and green product innovation. The study contributes to the existing literature on open innovation, green innovation, AC and suggests ideas for future research.
{"title":"External search for specialized knowledge and green new product development speed: A dual mediation mechanism and moderating role of absorptive capacity","authors":"Hoàng Thu Thảo , Huy-Cuong Vo-Thai , Trong Tuan Luu","doi":"10.1016/j.respol.2025.105398","DOIUrl":"10.1016/j.respol.2025.105398","url":null,"abstract":"<div><div>Considering that an open innovation approach is crucial for green innovation, this study aims to explore the different roles of external search for specialized knowledge sources, specifically market sources and institutional sources, in fostering green new product development (NPD) speed through the dual mediation mechanism and moderating role of absorptive capacity. The data set for testing the relationships among these variables was garnered from 505 managers who worked in Vietnamese manufacturing firms. The results revealed that external search from the two sources of knowledge, namely market sources and institutional sources, exhibits a significant positive association with green NPD speed. Further, the two mediators, including green process innovation and green product innovation, mediate the positive relationship between external search and green NPD speed. The findings also proved the effects of external search from market sources on green process innovation and green product innovation are positively moderated by absorptive capacity (AC). However, AC does not demonstrate a moderating effect when it comes to knowledge obtained from institutional sources in relation to green process innovation and green product innovation. The study contributes to the existing literature on open innovation, green innovation, AC and suggests ideas for future research.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105398"},"PeriodicalIF":8.0,"publicationDate":"2025-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145747400","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Robots and the regionalization of global value chains","authors":"Roberto Antonietti , Chiara Burlina , Chiara Franco","doi":"10.1016/j.respol.2025.105373","DOIUrl":"10.1016/j.respol.2025.105373","url":null,"abstract":"","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105373"},"PeriodicalIF":8.0,"publicationDate":"2025-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145747398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-29DOI: 10.1016/j.respol.2025.105384
Lukas Vogelgsang , Markus Baer , Martin Hoegl
Positions of intermediate network centrality have been found to be advantageous for creativity. Extending this line of work, we suggest that the potential benefits of positions of varying degrees of network centrality depend on the underlying approach to innovation. Using qualitative data from the board game industry, we first contrast the properties of two innovation approaches, a traditional, firm-internal approach versus a crowdfunding approach. Adopting an opportunity realization logic, we advance the idea that positions of intermediate network centrality enhance creativity when accompanied by a more traditional approach to innovation, but that positions at either the core or the periphery of the network aid creativity when creators employ a crowdfunding approach to innovation. We test our arguments in a sample of 6863 board games that were developed and realized either in the traditional way or using crowdfunding. Our results confirm that the value of network positions hinges upon the underlying innovation approach and highlight the implications of crowdfunding for creativity.
{"title":"Network centrality and creativity in the board game industry: Crowdfunding as a contingency","authors":"Lukas Vogelgsang , Markus Baer , Martin Hoegl","doi":"10.1016/j.respol.2025.105384","DOIUrl":"10.1016/j.respol.2025.105384","url":null,"abstract":"<div><div>Positions of intermediate network centrality have been found to be advantageous for creativity. Extending this line of work, we suggest that the potential benefits of positions of varying degrees of network centrality depend on the underlying approach to innovation. Using qualitative data from the board game industry, we first contrast the properties of two innovation approaches, a traditional, firm-internal approach versus a crowdfunding approach. Adopting an opportunity realization logic, we advance the idea that positions of intermediate network centrality enhance creativity when accompanied by a more traditional approach to innovation, but that positions at either the core or the periphery of the network aid creativity when creators employ a crowdfunding approach to innovation. We test our arguments in a sample of 6863 board games that were developed and realized either in the traditional way or using crowdfunding. Our results confirm that the value of network positions hinges upon the underlying innovation approach and highlight the implications of crowdfunding for creativity.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105384"},"PeriodicalIF":8.0,"publicationDate":"2025-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145624264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-29DOI: 10.1016/j.respol.2025.105380
David Wunder , Markku Maula
Corporate venture capital (CVC) investors now regularly back startups engaged in green innovation, yet their motivations and the causal impact of their investments on startups' green innovation remain unclear. We examine heterogeneous CVC selection and treatment effects on venture green innovation, conditional on corporate parents' green complementary resources. We draw on institutional logics to theorize CVCs as a group, and resource complementarity arguments to explain differences among CVC investors. Utilizing unique matched investment and patenting data (2000–2021) for ventures from 27 European countries funded by VCs during 2004–2019, we employ difference-in-differences models to separate treatment from selection effects and to test the heterogeneity of the treatment effects. We find that CVC investors preferentially select ventures exhibiting higher pre-investment green innovation, an effect driven by those whose parent corporations actively engage in green innovation themselves, indicating substantive rather than symbolic motives behind these investments. Critically, post-investment nurturing of green innovation depends on investor heterogeneity: only CVC investors whose parent corporations possess complementary green innovation resources significantly increase their portfolio ventures' subsequent green innovation.
{"title":"Harvesting or nurturing? Corporate venture capital and startup green innovation","authors":"David Wunder , Markku Maula","doi":"10.1016/j.respol.2025.105380","DOIUrl":"10.1016/j.respol.2025.105380","url":null,"abstract":"<div><div>Corporate venture capital (CVC) investors now regularly back startups engaged in green innovation, yet their motivations and the causal impact of their investments on startups' green innovation remain unclear. We examine heterogeneous CVC selection and treatment effects on venture green innovation, conditional on corporate parents' green complementary resources. We draw on institutional logics to theorize CVCs as a group, and resource complementarity arguments to explain differences among CVC investors. Utilizing unique matched investment and patenting data (2000–2021) for ventures from 27 European countries funded by VCs during 2004–2019, we employ difference-in-differences models to separate treatment from selection effects and to test the heterogeneity of the treatment effects. We find that CVC investors preferentially select ventures exhibiting higher pre-investment green innovation, an effect driven by those whose parent corporations actively engage in green innovation themselves, indicating substantive rather than symbolic motives behind these investments. Critically, post-investment nurturing of green innovation depends on investor heterogeneity: only CVC investors whose parent corporations possess complementary green innovation resources significantly increase their portfolio ventures' subsequent green innovation.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"55 2","pages":"Article 105380"},"PeriodicalIF":8.0,"publicationDate":"2025-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145624263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
扫码关注我们
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号