Erik Noyes is associate professor in the Department of Entrepreneurship, Babson College.
Firm Network Position and Corporate Venture Capital Investment
Version of Record online: 6 AUG 2013
© 2013 International Council for Small Business
Journal of Small Business Management
Special Issue: Understanding Entrepreneurship: Challenging Dominant Perspectives and Theorising Entrepreneurship through New Post-Positivist Epistemologies
Volume 52, Issue 4, pages 713–731, October 2014
How to Cite
Noyes, E., Brush, C., Hatten, K. and Smith-Doerr, L. (2014), Firm Network Position and Corporate Venture Capital Investment. Journal of Small Business Management, 52: 713–731. doi: 10.1111/jsbm.12051
- Issue online: 23 SEP 2014
- Version of Record online: 6 AUG 2013
This study investigates why some firms have been more likely to make corporate venture capital investments than others. We anchor this study within a social networks perspective and prior network research that shows that information about business practices diffuses unevenly through interlocking boards, thereby influencing the corporate adoption of novel business practices. Using annual data on interlocking boards and corporate venture capital investments for S&P500 companies for the years 1996–2006, we show that a firm's corporate venture capital investment behavior can be predicted by its cumulative access to information about corporate venture capital practices gained through interlocking boards.