Quotation Lee, Simon U., Park, Gunno, Kang, Jina, Marhold, Klaus. 2019. Managerial Attention and CVC Portfolio Diversification: Investigating Organizational Determinants. AoM Annual Meeting 2019, Boston, United States/USA, 09.08.-13.08.


RIS


BibTeX

Abstract

Recently, CVC investments have attracted increasing attention as a corporate strategy to access various external knowledge sources, especially through diversified CVC portfolios. However, there is a lack of empirical research on the antecedent factors that determine the level of CVC portfolio diversification. We argue that the degree of CVC portfolio diversification is different for each corporate investor because of its different managerial attention on investment target selection. We empirically investigate the roles of three organizational determinants (TMT homogeneity, organizational slack constraints, and structural autonomy of the CVC unit) which can affect corporate investor’s strategic attention. Using panel data from corporate investors in U.S. high-tech industries, we find that the CVC parent firm’s TMT homogeneity and slack resource constraints negatively affect the CVC’s portfolio diversification. On the other hand, the structural autonomy given to the dedicated CVC unit was found to be positively related with CVC portfolio diversification.

Tags

Press 'enter' for creating the tag

Publication's profile

Status of publication Published
Affiliation WU
Type of publication Paper presented at an academic conference or symposium
Language English
Title Managerial Attention and CVC Portfolio Diversification: Investigating Organizational Determinants
Event AoM Annual Meeting 2019
Year 2019
Date 09.08.-13.08.
Country United States/USA
Location Boston
URL http://aom.org

Associations

People
Marhold, Klaus (Details)
External
Kang, Jina (Seoul National University, Republic of Korea)
Lee, Simon U. (LG Household & Healthcare, Republic of Korea)
Park, Gunno (SK Telecom, Republic of Korea)
Organization
Entrepreneurship and Innovation IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
1925 Knowledge management (Details)
5936 Research and innovation management (Details)
Google Scholar: Search