Existing research has utilized real options theory to analyze corporate venture capital (CVC) investment, yet little work has empirically studied such investment in a comparative setting. In this paper, we begin to address this gap by investigating firms' investment mode choice between CVC and...

This study takes a real options perspective towards venture capital staging and views the staging decision as a choice between holding the current option to invest and investing now to obtain the option to invest subsequently. It proposes that this staging decision depends on the factors that...