Robert P. Garrett Jr. is an Assistant Professor of Entrepreneurship at the College of Business, University of Louisville, Louisville, KY 40292, USA.
Internal Corporate Venture Operations Independence and Performance: A Knowledge-Based Perspective
Article first published online: 27 AUG 2013
© 2013 Baylor University
Entrepreneurship Theory and Practice
Volume 39, Issue 4, pages 763–790, July 2015
How to Cite
Garrett, R. P. and Covin, J. G. (2015), Internal Corporate Venture Operations Independence and Performance: A Knowledge-Based Perspective. Entrepreneurship Theory and Practice, 39: 763–790. doi: 10.1111/etap.12059
- Issue published online: 2 JUL 2015
- Article first published online: 27 AUG 2013
Internal corporate ventures (ICVs) are entrepreneurial initiatives originated within a company and intended from inception as new businesses for the parent. The literature suggests that parent–ICV structural separation positively affects ICV performance. However, the literature also suggests that ICVs can be nurtured within the parent's existing organizational structure. Our model explores ICV operations independence as a knowledge flow impediment affecting ICV performance. Primary data from 145 ICVs suggest that operations independence is not associated with ICV performance, but that parent–venture market familiarity, venture opportunity identification mode, and venture planning autonomy moderate the relationship between operations independence and ICV performance.