Progress toward understanding tensions in corporate venture capital: A systematic review

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Journal Title
Journal ISSN
Volume Title
A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
Date
2022-07
Major/Subject
Mcode
Degree programme
Language
en
Pages
30
Series
Journal of Business Venturing, Volume 37, issue 4
Abstract
We systematically review the past four decades of research on tensions in corporate venture capital (CVC) and inductively identify three main tensions: (1) multiple stakeholders championing CVC-based exploration versus core business-focused exploitation, (2) CVC programs simultaneously belonging to the corporate parent versus the startup/venture capital (VC) world, and (3) startups and VCs viewing CVC programs as a threat versus an opportunity. By combining the understanding of the CVC phenomenon with that of the paradox literature, we expand our understanding of why, how, and when contradictory goals and multiple stakeholder expectations result in tensions and how these tensions can be managed.
Description
Funding Information: We acknowledge the valuable feedback received on the previous versions of the paper from Marina Biniari, Gary Dushnitsky, Thomas Keil, Anu Wadhwa, as well as from the seminar participants at the Strategic Management Annual Conference 2020, Aalto University, and Technical University of Denmark. We also thank JBV Field Editor Vangelis Souitaris and three anonymous reviewers for their very helpful comments and suggestions. Publisher Copyright: © 2022 The Authors
Keywords
Corporate venture capital, Paradoxes, Systematic review, Tensions
Other note
Citation
Jeon , E & Maula , M 2022 , ' Progress toward understanding tensions in corporate venture capital: A systematic review ' , Journal of Business Venturing , vol. 37 , no. 4 , 106226 . https://doi.org/10.1016/j.jbusvent.2022.106226