Firm Structure and Environment as Contingencies to the Corporate Venture Capital-Parent Firm Value Relationship
研究了企业风险投资（CVC）是否能为母公司创造价值，发现价值提升取决于企业采用特定的运营结构和所处的环境背景，基于注意力基础观和权变理论。
Corporate venture capital (CVC) is a valuable strategic tool associated with numerous innovative outcomes. However, less is known about whether CVC investing creates value for the investing (or parent) firm. Drawing from the attention–based view and contingency theory, we suggest that an increase in firm value from CVC investing is contingent on attentional mechanisms that discipline the selection of new investment opportunities. We posit that increases in firm value associated with CVC investing accrues to firms adopting specific operational structures and operating in particular environmental contexts. We find support for our research model in a sample of 95 companies between 2000 and 2008.