Details
| Original language | English |
|---|---|
| Pages (from-to) | 568-597 |
| Number of pages | 30 |
| Journal | International Journal of Entrepreneurial Venturing |
| Volume | 11 |
| Issue number | 6 |
| Publication status | Published - 25 Nov 2019 |
Abstract
We empirically investigate the largely unexplored relationship between corporate top management teams (TMT) and CVC unit managers. Doing so, we provide new insights into the interplay between TMT decisions and CVC managers’ behaviour and how agency conflicts between them influence the survival of CVC units. Using a proprietary dataset of 64 CVC units we apply fsQCA in order to identify the interrelatedness, causal asymmetry and equifinality of agency-related conditions leading to survival. We relativise former literature by demonstrating that financial incentivisation of CVC managers need to be complemented by additional factors to impact the survival of CVC units. Further, we conclude that the decision-making autonomy of CVC managers seem to work as a form of non-financial incentive. Finally, we demonstrate that the configuration of providing strategic support, investing with high strategic proximity, and non-autonomously acting CVC managers is related to non-survival of the CVC unit.
Keywords
- Agency theory, Configuration, Corporate venture capital, CVC, QCA, Qualitative comparative analysis, Survival
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Business and International Management
- Business, Management and Accounting(all)
- Strategy and Management
- Business, Management and Accounting(all)
- Management of Technology and Innovation
Cite this
- Standard
- Harvard
- Apa
- Vancouver
- BibTeX
- RIS
In: International Journal of Entrepreneurial Venturing, Vol. 11, No. 6, 25.11.2019, p. 568-597.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Don’t throw in the towel too early! How agency conflicts affect the survival of corporate venture capital units
AU - Fischer, Daniel
AU - Kruse, Deniz Philipp
AU - Leonardy, Hannes
AU - Weber, Christiana
PY - 2019/11/25
Y1 - 2019/11/25
N2 - We empirically investigate the largely unexplored relationship between corporate top management teams (TMT) and CVC unit managers. Doing so, we provide new insights into the interplay between TMT decisions and CVC managers’ behaviour and how agency conflicts between them influence the survival of CVC units. Using a proprietary dataset of 64 CVC units we apply fsQCA in order to identify the interrelatedness, causal asymmetry and equifinality of agency-related conditions leading to survival. We relativise former literature by demonstrating that financial incentivisation of CVC managers need to be complemented by additional factors to impact the survival of CVC units. Further, we conclude that the decision-making autonomy of CVC managers seem to work as a form of non-financial incentive. Finally, we demonstrate that the configuration of providing strategic support, investing with high strategic proximity, and non-autonomously acting CVC managers is related to non-survival of the CVC unit.
AB - We empirically investigate the largely unexplored relationship between corporate top management teams (TMT) and CVC unit managers. Doing so, we provide new insights into the interplay between TMT decisions and CVC managers’ behaviour and how agency conflicts between them influence the survival of CVC units. Using a proprietary dataset of 64 CVC units we apply fsQCA in order to identify the interrelatedness, causal asymmetry and equifinality of agency-related conditions leading to survival. We relativise former literature by demonstrating that financial incentivisation of CVC managers need to be complemented by additional factors to impact the survival of CVC units. Further, we conclude that the decision-making autonomy of CVC managers seem to work as a form of non-financial incentive. Finally, we demonstrate that the configuration of providing strategic support, investing with high strategic proximity, and non-autonomously acting CVC managers is related to non-survival of the CVC unit.
KW - Agency theory
KW - Configuration
KW - Corporate venture capital
KW - CVC
KW - QCA
KW - Qualitative comparative analysis
KW - Survival
UR - http://www.scopus.com/inward/record.url?scp=85075802054&partnerID=8YFLogxK
U2 - 10.1504/IJEV.2019.103742
DO - 10.1504/IJEV.2019.103742
M3 - Article
AN - SCOPUS:85075802054
VL - 11
SP - 568
EP - 597
JO - International Journal of Entrepreneurial Venturing
JF - International Journal of Entrepreneurial Venturing
SN - 1742-5360
IS - 6
ER -