This paper takes a real options view of corporate venture capital (CVC), which are direct minority equity investments made by established companies in privately held entrepreneurial ventures. CVC investments have been characterized as creating growth options for corporate investors. We argue...

This study examines the conditions under which portfolios of corporate venture capital (CVC) relationships influence corporate investor innovation performance. We investigate this question using longitudinal data on CVC investment portfolios of 40 telecommunications equipment manufacturers. We...

The structure of alliance networks influences their potential for knowledge creation. Dense local clustering provides information transmission capacity in the network by fostering communication and cooperation. Nonredundant connections contract the distance between firms and give the network...

Although research suggests knowledge spillovers benefit imitators often at the expense of originators, we investigate how originating firms may also benefit from their own spillovers. When an originating firm’s spillovers are recombined with complementary knowledge by recipient firms, a pool...

This study examines the influence of the structure and composition of a firm’s alliance network on its exploratory innovation. In a longitudinal investigation of 77 telecommunications equipment manufacturers, I find the technological diversity of a firm’s alliance partners increases its...