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The effect of governance modes and relatedness of external business development activities on innovative performance
Author(s) -
Keil Thomas,
Maula Markku,
Schildt Henri,
Zahra Shaker A.
Publication year - 2008
Publication title -
strategic management journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 11.035
H-Index - 286
eISSN - 1097-0266
pISSN - 0143-2095
DOI - 10.1002/smj.672
Subject(s) - corporate governance , business , corporate venture capital , industrial organization , joint venture , affect (linguistics) , venture capital , panel data , marketing , business administration , economics , finance , linguistics , philosophy , econometrics
Abstract This study examines how different governance modes for external business development activities and venture relatedness affect a firm's innovative performance. Building on research suggesting 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. Copyright © 2008 John Wiley & Sons, Ltd.