The Effect of Governance Modes and Relatedness of External Business Development Activities on Innovative Performance

Strategic Management Journal, Vol. 29, No. 8, pp. 895-907

Posted: 13 Apr 2007 Last revised: 27 Aug 2013

See all articles by Thomas Keil

Thomas Keil

University of Zurich - Department of Business Administration

Markku V. J. Maula

Aalto University, Dept. of Industrial Engineering and Management, Institute of Strategy

Henri Schildt

Aalto University - Institute of Strategy and Intl. Business

Shaker A. Zahra

University of Minnesota - Twin Cities - Carlson School of Management

Date Written: February 1, 2008

Abstract

This study examines how different governance modes for external business development activities and venture relatedness affect a firm's innovative performance. Building on studies which have suggested that interorganizational relationships enhance the innovative performance of firms, we propose that governance modes and venture relatedness interact in their effect on innovative performance. Analyzing a panel of the largest firms in four information and communication technology sectors, we find that degree of relatedness for corporate venture capital investments, alliances, joint ventures, and acquisitions influences their impact on innovative performance.

Keywords: Corporate venturing, business development, acquisition, alliance, corporate venture capital, innovation, patents

JEL Classification: M13

Suggested Citation

Keil, Thomas and Maula, Markku V. J. and Schildt, Henri and Zahra, Shaker A., The Effect of Governance Modes and Relatedness of External Business Development Activities on Innovative Performance (February 1, 2008). Strategic Management Journal, Vol. 29, No. 8, pp. 895-907. Available at SSRN: https://ssrn.com/abstract=978938

Thomas Keil (Contact Author)

University of Zurich - Department of Business Administration ( email )

Seilergraben 53
Zurich, CH-8001
Switzerland

HOME PAGE: http://www.business.uzh.ch/professorships/international-management/team/keil.html

Markku V. J. Maula

Aalto University, Dept. of Industrial Engineering and Management, Institute of Strategy ( email )

PO Box 15500
FI-00076 AALTO
Espoo
Finland

HOME PAGE: http://users.tkk.fi/u/mmaula/

Henri Schildt

Aalto University - Institute of Strategy and Intl. Business ( email )

Finland

Shaker A. Zahra

University of Minnesota - Twin Cities - Carlson School of Management ( email )

19th Avenue South
Minneapolis, MN 55455
United States

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