Prerequisites for the Creation of Social Capital and Subsequent Knowledge Acquisition in Corporate Venture Capital

Venture Capital: An International Journal of Entrepreneurial Finance,Vol. 5, No. 2, pp. 117-134

Posted: 23 Aug 2008

See all articles by Markku V. J. Maula

Markku V. J. Maula

Aalto University, Department of Industrial Engineering and Management

Erkko Autio

HEC Lausanne

Gordon C. Murray

University of Exeter Business School

Multiple version iconThere are 2 versions of this paper

Date Written: April 2003

Abstract

Past research has largely treated inter-organizational social capital as an exogenously determined asset. In this paper, the authors build and test a model on the effects of the initial conditions for the creation and leveraging of social capital in corporate venture capital - portfolio firm dyads. Using contemporary survey data from US portfolio firms, it is shown that complementarities and financial incentives constitute important initial conditions for the creation of social interaction and subsequent knowledge acquisition. While extending the understanding of social capital formation, the findings also have important practical implications for technology-based new firms planning their growth and financing strategies.

Keywords: Corporate venture capital, social Capital, knowledge acquisition

JEL Classification: G24, M13

Suggested Citation

Maula, Markku V. J. and Autio, Erkko and Murray, Gordon C., Prerequisites for the Creation of Social Capital and Subsequent Knowledge Acquisition in Corporate Venture Capital (April 2003). Venture Capital: An International Journal of Entrepreneurial Finance,Vol. 5, No. 2, pp. 117-134, Available at SSRN: https://ssrn.com/abstract=1246519

Markku V. J. Maula (Contact Author)

Aalto University, Department of Industrial Engineering and Management ( email )

PO Box 15500
FI-00076 AALTO
Espoo
Finland

HOME PAGE: http://users.aalto.fi/mmaula/

Erkko Autio

HEC Lausanne ( email )

Institut Stratège
BFSH1
Lausanne, 1015
Switzerland

Gordon C. Murray

University of Exeter Business School ( email )

Streatham Court
Rennes Drive
Exeter EX4 4PU
United Kingdom
+44 777 522 0857 (Phone)

HOME PAGE: http://business-school.exeter.ac.uk/staff/profile.php?id=34

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