Industry Technological Changes, Venture Capital Incubation, and Post-IPO Firm Innovation and Performance

This study aims to explore the effects of: (1) the project characteristics of asset specificity, uncertainty and complexity on the performance of, and, the use of formal and social controls in inter-firm innovation projects, and, (2) the use of formal and social controls on the performance of inter-firm innovation projects. In addition, the mediating role of the use of formal and social controls in the relationships between the characteristics and performance of inter-firm innovation projects is also examined. Survey data from 75 organisations in innovation–active industries in Australia were analysed using the structural equation modelling with the Partial Least Square technique. The results show that uncertainty and complexity affected performance of inter-firm innovation projects, but in opposite directions. Higher levels of uncertainty were associated with less use of social controls but higher levels of complexity were partnered with a greater use of both formal and social controls. The use of formal and social controls individually impacted on inter-firm innovation project performance. Finally, the use of formal and social controls played a partial mediating role in the relationships of uncertainty and complexity with inter-firm innovation performance. Responding to gaps in research, this study clarifies that asset specificity may be irrelevant whilst uncertainty and complexity may be highly relevant in the performance of, and, the use of controls in inter-firm innovation projects. The study offers valuable insights into how a complementary use of controls contributes to the performance of inter-firm innovation projects.

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A Theorical Model： How Venture Capital and Top Management Team Heterogeneity Influence the Firm Innovation

Proceedings of the 2018 International Conference on Economics, Business, Management and Corporate Social Responsibility (EBMCSR 2018) ◽

10.2991/ebmcsr-18.2018.52 ◽

2018 ◽

Author(s):

Hong-an Chen ◽

Xia Zhang

Keyword(s):

Venture Capital ◽

Top Management Team ◽

Management Team ◽

Top Management ◽

Firm Innovation ◽

Team Heterogeneity

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Informational Hold-Up and Performance Persistence in Venture Capital

SSRN Electronic Journal ◽

10.2139/ssrn.1260496 ◽

2010 ◽

Cited By ~ 30

Author(s):

Yael V. Hochberg ◽

Alexander Ljungqvist ◽

Annette Vissing-Jorgensen

Keyword(s):

Venture Capital ◽

Performance Persistence ◽

And Performance

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Expanding Technology-Based Transcultural Diffusion

Cross-Cultural Interaction ◽

10.4018/978-1-4666-4979-8.ch086 ◽

2014 ◽

pp. 1512-1529

Author(s):

Margee Hume ◽

Paul Johnston ◽

Mark Argar ◽

Craig Hume

Keyword(s):

Venture Capital ◽

Early Stage ◽

Single Case ◽

The Philippines ◽

Global Market ◽

Cultural Issues ◽

World Markets ◽

New Energy ◽

Technology Market ◽

And Performance

This chapter focuses on addressing: the screening criteria used to evaluate potential new energy- related technology ventures in two international markets, namely the Philippines and Brazil; adopting a single case methodology to communicate the firm strategies used to attract investment and the behaviour adopted to try and effectively and efficiently enter the global market; and based on the descriptions and behaviours found, the case offers a holistic entry framework which will advance understanding of transcultural marketing and entry needs of the Philippines and Brazil regarding new energy-related innovations. This chapter uses qualitative case analysis of a single case technology commercialisation organisation and the experience of entering two new world markets: the Philippines and Brazil. These two markets have been selected as they are focused on energy securitisation, possess a distinct business culture related to early stage and Venture Capital (VC) investment and the behaviour of VCs, and are currently commercially attractive and interested in international investment and new technology market development (Broad & Cavanagh, 2011; Castells, 2011). This chapter reports on data focused on investment activity within the technology market in Brazil and the Philippines and cultural factors affecting investment and market entry specific to these markets. The chapter integrates the cultural issues of each destination with current literature and develops a checklist of actions related to each market destination. The chapter will assist with the success of attracting investment, sales growth, and performance in the new market and enhance profitability of the venture. The chapter will offer specific actions related to the entry and investment in each market and contribute to international marketing knowledge. This chapter offers a new transcultural marketing perspective on international venture capital exploring and learning from these two diverse emerging world markets. The lessons learnt from each market creates a shared and advanced outlook on seeking successful venture capital in newer global markets (Broad & Cavanagh, 2011).

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