This article reviews the academic literature on corporate venture capital, that is, minority equity investments by established corporations in privately-held entrepreneurial ventures. It starts with a detailed definition of the phenomenon. An historical background of Corporate Venture Capital (CVC) is presented, followed by an extensive review of CVC investment patterns. The article then presents scholarly findings beginning with firms' objectives, through the governance of their CVC programmes and the relationships with the portfolio companies and ending with a review of corporate, venture and CVC programme performance. The article concludes with directions for future research.
Entrepreneurship and marketing are intimately related. This article examines their relationship from three perspectives, the market process perspective, the marketing perspective, and the perspective of the entrepreneurial firm. These provide complementary insights into the connections between the two concepts. The article briefly considers definitions of entrepreneurship and marketing. It then discusses the three complementary perspectives in turn. The final section provides a summary and identifies areas for further research.
R. Daniel Wadhwani
This chapter begins by examining the reasons for the growing historiographical and theoretical interest in small-scale credit institutions, and in understanding variations in the institutional arrangements of intermediaries more broadly. It then briefly surveys the literature on a selection of these institutions—ROSCAs, savings banks, credit cooperatives, and building associations—to identify patterns of organization and development over time and place. Finally, it examines a number of theoretical perspectives that have been used to account for variation in in the organizational size, form, and practices that such small credit institutions embody. Specifically it considers transaction cost theories, location-based theories, socio-political theories, and cultural/narrative theories, and assesses their contributions and limitations in understanding the sources of variation and change in institutional arrangements.
Venture capital has, in recent years become a substantial and growing area of academic research. It is still a comparatively young field and several of the fundamental questions raised by scholars working within it remain to be answered. The survey in this article aims to provide an overview of the current scholarly answers to several questions. In doing so it attempts as far as possible to cut through the jargon and hyperbole endemic to the subject and to provide convenient access to the main issues.