{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,16]],"date-time":"2026-06-16T18:07:59Z","timestamp":1781633279341,"version":"3.54.5"},"reference-count":107,"publisher":"Emerald","issue":"5","license":[{"start":{"date-parts":[[2019,11,18]],"date-time":"2019-11-18T00:00:00Z","timestamp":1574035200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["BPMJ"],"published-print":{"date-parts":[[2019,11,18]]},"abstract":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title><jats:p>Recently, corporate venture capital (CVC) has been gaining increasing attention worldwide as a special form of venturing through which non-financial corporations invest in target companies, usually technological firms, as start-ups. These investments mostly aim not at financial goals but constitute a strategic way for the corporation to obtain access to new technologies and innovations through financing entrepreneurial initiatives. The purpose of this paper is to analyze the connections between the core business of the parent company and its venturing investments, investigating, in particular, its \u201cambidexterity,\u201d i.e., the ability of the CVC company to invest in ventures close to its core activities, exploiting internal resources and exploring new markets.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>Stemming from the results of previous studies, this research has applied a discriminating analysis methodology to the 18 most active CVC companies in the world, all of which have technology innovation as the core business of the corporation, in the 2015\/2017 period.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>An evident correlation between the Financing Round (as the independent variable) and the Entrepreneurial Intensity (as the dependent variable) influences the CVCs investment policies and their behavior with respect to their ambidexterity. This link could also influence the strategic orientation of the CVC policy, forcing the company to appropriately govern and manage the starting nature and\/or the variable nature of the CVC (ambidextrous, hybrid, dis-ambidextrous or random).<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Research limitations\/implications<\/jats:title><jats:p>The current research has used only secondary data to explore the behavior of only 18 CVCs in a relatively short period. Thus, it would be advisable to extend the number of observations, to enlarge the period under investigation, and to retrieve field data to obtain more detailed and reliable results.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>The main objective\/contribution of this study is to understand if there is a correlation between the Financing Round (as the independent variable) and the Entrepreneurial Intensity (as the dependent variable) for the 18 most active CVCs in the world, according to CB Insights, in 2015\u20132017, adopting and further confirming the model by Rossi<jats:italic>et al.<\/jats:italic>(2019). The statistical investigation, based on the conclusions of that linear regression model, has highlighted a total or large correlation between these two variables for the current research perimeter, which includes CVC companies with technology as the core business of the corporation.<\/jats:p><\/jats:sec>","DOI":"10.1108\/bpmj-05-2019-0204","type":"journal-article","created":{"date-parts":[[2019,11,18]],"date-time":"2019-11-18T10:08:51Z","timestamp":1574071731000},"page":"1157-1181","source":"Crossref","is-referenced-by-count":42,"title":["To invest or to harvest?"],"prefix":"10.1108","volume":"26","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-3669-7976","authenticated-orcid":false,"given":"Matteo","family":"Rossi","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-2080-2137","authenticated-orcid":false,"given":"Giuseppe","family":"Festa","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Fabio","family":"Fiano","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Rosa","family":"Giacobbe","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"140","reference":[{"issue":"S1","key":"key2020102715254056500_ref001","doi-asserted-by":"crossref","first-page":"s45","DOI":"10.1002\/hrm.21668","article-title":"Behavioral ambidexterity: the impact of incentive schemes on productivity, motivation, and performance of employees in commercial banks","volume":"54","year":"2015","journal-title":"Human Resource Management"},{"issue":"4","key":"key2020102715254056500_ref002","doi-asserted-by":"crossref","first-page":"662","DOI":"10.1108\/MD-02-2016-0107","article-title":"Stimulating employee ambidexterity and employee engagement in SMEs","volume":"55","year":"2017","journal-title":"Management Decision"},{"key":"key2020102715254056500_ref003","doi-asserted-by":"crossref","first-page":"279","DOI":"10.28945\/3516","article-title":"Technological entrepreneurship framework for university commercialization of information technology","volume":"13","year":"2016","journal-title":"Issues in Informing Science and Information Technology"},{"issue":"4","key":"key2020102715254056500_ref004","doi-asserted-by":"crossref","first-page":"685","DOI":"10.1287\/orsc.1090.0428","article-title":"Exploitation-exploration tensions and organizational ambidexterity: managing paradoxes of innovation","volume":"20","year":"2009","journal-title":"Organization Science"},{"issue":"8","key":"key2020102715254056500_ref005","first-page":"1993","article-title":"A bibliometric analysis of research on big data analytics for business and management","volume":"57","year":"2018","journal-title":"Management Decision"},{"issue":"1","key":"key2020102715254056500_ref006","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1080\/15248372.2013.871721","article-title":"Advantages of integrative data analysis for developmental research","volume":"16","year":"2015","journal-title":"Journal of Cognition and Development"},{"issue":"2","key":"key2020102715254056500_ref007","doi-asserted-by":"crossref","first-page":"153","DOI":"10.1016\/j.jbusvent.2009.07.001","article-title":"Towards understanding who makes corporate venture capital investments and why","volume":"26","year":"2011","journal-title":"Journal of Business Venturing"},{"key":"key2020102715254056500_ref008","doi-asserted-by":"crossref","unstructured":"Basu, S., Wadhwa, A. and Kotha, S. 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