Details
| Original language | English |
|---|---|
| Pages (from-to) | 274-299 |
| Number of pages | 26 |
| Journal | Strategic entrepreneurship journal |
| Volume | 10 |
| Issue number | 3 |
| Publication status | Published - 5 Oct 2016 |
Abstract
Research summary: This study focuses on Dyer and Singh's (1998) relational view in the context of corporate venture capital (CVC) investors and their portfolio companies, who mutually strive for interorganizational rent generation. Aiming to better understand this relational rent-generation process, our article entirely operationalizes and refines Dyer and Singh's (1998) model. While our findings attest strong explanatory power to the original model in the context of CVC investment relationships, they suggest the existence of additional relationships between the constructs of the relational view. Specifically, we identified relation-specific assets as well as knowledge-sharing routines as mediators between complementary resources and capabilities and relational rent. Managerial summary: In this article, the relational view as an existing theory on interorganizational relationships is applied and tested using quantitative data in the context of corporate venture capital (CVC) investments. Our analysis confirms that relation-specific assets and knowledge-sharing routines, as well as complementary resources and capabilities, lead to relational rent. This is supernormal profit creation for both CVC investors and portfolio companies. The relationships are, however, not as straightforward as the original theory suggests, with complementary resources and capabilities being antecedents for knowledge-sharing routines and relation-specific assets which, subsequently, lead to the desired rent. Counterintuitively, informal self-enforcing governance mechanisms (trust) appear to foster relationship satisfaction, but not necessarily create relational rent or immediate tangible benefits.
Keywords
- corporate venture capial, mediation analysis, mediation effect, relational rent, relational view
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Business and International Management
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
- Business, Management and Accounting(all)
- Strategy and Management
Cite this
- Standard
- Harvard
- Apa
- Vancouver
- BibTeX
- RIS
In: Strategic entrepreneurship journal, Vol. 10, No. 3, 05.10.2016, p. 274-299.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - An Empirical Test of the Relational View in the Context of Corporate Venture Capital
AU - Weber, Christiana
AU - Bauke, Boris
AU - Raibulet, Virgil
PY - 2016/10/5
Y1 - 2016/10/5
N2 - Research summary: This study focuses on Dyer and Singh's (1998) relational view in the context of corporate venture capital (CVC) investors and their portfolio companies, who mutually strive for interorganizational rent generation. Aiming to better understand this relational rent-generation process, our article entirely operationalizes and refines Dyer and Singh's (1998) model. While our findings attest strong explanatory power to the original model in the context of CVC investment relationships, they suggest the existence of additional relationships between the constructs of the relational view. Specifically, we identified relation-specific assets as well as knowledge-sharing routines as mediators between complementary resources and capabilities and relational rent. Managerial summary: In this article, the relational view as an existing theory on interorganizational relationships is applied and tested using quantitative data in the context of corporate venture capital (CVC) investments. Our analysis confirms that relation-specific assets and knowledge-sharing routines, as well as complementary resources and capabilities, lead to relational rent. This is supernormal profit creation for both CVC investors and portfolio companies. The relationships are, however, not as straightforward as the original theory suggests, with complementary resources and capabilities being antecedents for knowledge-sharing routines and relation-specific assets which, subsequently, lead to the desired rent. Counterintuitively, informal self-enforcing governance mechanisms (trust) appear to foster relationship satisfaction, but not necessarily create relational rent or immediate tangible benefits.
AB - Research summary: This study focuses on Dyer and Singh's (1998) relational view in the context of corporate venture capital (CVC) investors and their portfolio companies, who mutually strive for interorganizational rent generation. Aiming to better understand this relational rent-generation process, our article entirely operationalizes and refines Dyer and Singh's (1998) model. While our findings attest strong explanatory power to the original model in the context of CVC investment relationships, they suggest the existence of additional relationships between the constructs of the relational view. Specifically, we identified relation-specific assets as well as knowledge-sharing routines as mediators between complementary resources and capabilities and relational rent. Managerial summary: In this article, the relational view as an existing theory on interorganizational relationships is applied and tested using quantitative data in the context of corporate venture capital (CVC) investments. Our analysis confirms that relation-specific assets and knowledge-sharing routines, as well as complementary resources and capabilities, lead to relational rent. This is supernormal profit creation for both CVC investors and portfolio companies. The relationships are, however, not as straightforward as the original theory suggests, with complementary resources and capabilities being antecedents for knowledge-sharing routines and relation-specific assets which, subsequently, lead to the desired rent. Counterintuitively, informal self-enforcing governance mechanisms (trust) appear to foster relationship satisfaction, but not necessarily create relational rent or immediate tangible benefits.
KW - corporate venture capial
KW - mediation analysis
KW - mediation effect
KW - relational rent
KW - relational view
UR - http://www.scopus.com/inward/record.url?scp=84989853016&partnerID=8YFLogxK
U2 - 10.1002/sej.1231
DO - 10.1002/sej.1231
M3 - Article
AN - SCOPUS:84989853016
VL - 10
SP - 274
EP - 299
JO - Strategic entrepreneurship journal
JF - Strategic entrepreneurship journal
SN - 1932-4391
IS - 3
ER -