My dissertation uses a multi-method approach and is composed of three essays that jointly investigate the impact of various interdependencies on the relationship between corporate investors and invested ventures. First, in view of the richness of the CVC literature, I conduct a meta-analysis that reviews the link between CVC investments and various performance objectives of corporate investors and new ventures. I then take a longitudinal perspective to look at how interdependencies between corporate investors and new ventures evolve, and how such evolution affects the corporate investors’ investment strategy. I aim at addressing a particular gap–the lack of focus on interdependence dynamism during the CVC investment process—identified from the review study. Finally, I identify a new type of corporate objective that drives CVC investments and conduct field studies to understand its manifestation in China’s CVC ecosystems.
Beyond my core research focus on how established corporations facilitate innovation by funding technological startups in CVC investments, I have also been developing other research projects in both entrepreneurship and corporate strategy fields. On the entrepreneurship side, I am working on projects related to resource mobilization in entrepreneurial startups. On the corporate strategy side, I seek to understand how top corporate executives influence their organization’s technological search and competitive actions.