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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Unique resources of corporate venture capitalists as a key to entry into rigid venture capital syndication networks
Organization Unit
Authors
  • Thomas Keil
  • Markku V J Maula
  • Cameron Wilson
Item Subtype Original Work
Refereed Yes
Status Published in final form
Language
  • English
Journal Title Entrepreneurship Theory and Practice
Publisher Wiley-Blackwell
Geographical Reach international
ISSN 1042-2587
Volume 34
Number 1
Page Range 83 - 103
Date 2010
Abstract Text We investigate how corporate venture capitalists (CVCs) can rapidly attain central positions in venture capital syndication networks. Using data of CVC investments by U.S. corporations between 1996 and 2005, we complement prior research, which suggests that centrally positioned VCs predominantly invest together with other centrally positioned VCs. While we find clear support for the social network theory arguments that prior central positions in syndication networks significantly explain future network positions of CVCs, we also find a negative interaction effect between past centrality and corporate resources. This finding implies that resources of CVCs can substitute for their lack of prior centrality and allow them to gain rapidly central positions in rigid VC syndication networks.
Digital Object Identifier 10.1111/j.1540-6520.2009.00366.x
Other Identification Number merlin-id:8133
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