声誉对维持公司间关系承诺的价值：将企业风险资本家纳入投资集团

IF 7.7 1区管理学 Q1 BUSINESS

Journal of Business Venturing Pub Date : 2024-03-14 DOI:10.1016/j.jbusvent.2024.106391

Joseph J. Cabral , M.V. Shyam Kumar , Haemin Dennis Park

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引用次数: 0

摘要

我们探讨了在企业风险投资背景下维持企业间关系承诺的重要性。我们发现，企业投资者过去对投资关系的承诺和不过早放弃的行为会带来声誉上的好处，从而增加其参与未来投资机会的可能性。当企业投资者拥有大量专利储备和较高的潜在闲置水平时，这些声誉效应会产生更大的影响。我们的研究强调了在企业间关系中持续承诺的价值，并对企业风险投资计划投资机会的一个重要驱动因素有了更深入的了解。

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The value of a reputation for sustaining commitment in interfirm relationships: The inclusion of corporate venture capitalists in investment syndicates

We explore the importance of sustaining commitment in inter-firm relationships in the corporate venture capital setting. We find that a corporate investor's past behavior in terms of committing to investment relationships and not abandoning them prematurely confers reputational benefits that increase the likelihood of its participation in future investment opportunities. These reputational effects have a greater impact when the corporate investor has extensive patent stocks and has higher levels of potential slack. Our study highlights the value of sustaining commitment in interfirm relationships, and offers a deeper understanding of an important driver of corporate venture capital program investment opportunities.

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来源期刊

Journal of Business Venturing BUSINESS-

CiteScore

16.70

自引率

6.90%

发文量

审稿时长

77 days

期刊介绍： The Journal of Business Venturing: Entrepreneurship, Entrepreneurial Finance, Innovation and Regional Development serves as a scholarly platform for the exchange of valuable insights, theories, narratives, and interpretations related to entrepreneurship and its implications. With a focus on enriching the understanding of entrepreneurship in its various manifestations, the journal seeks to publish papers that (1) draw from the experiences of entrepreneurs, innovators, and their ecosystem; and (2) tackle issues relevant to scholars, educators, facilitators, and practitioners involved in entrepreneurship. Embracing diversity in approach, methodology, and disciplinary perspective, the journal encourages contributions that contribute to the advancement of knowledge in entrepreneurship and its associated domains.