The impact of venture capital on high-tech firms' alliance strategy: Based on the medium role of absorptive capacity

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Science Research Management ›› 2011, Vol. 32 ›› Issue (7) : 76-84.

Long Yong, Mei Deqiang, Chang Qinghua

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Abstract

Related to others traditional investment, venture capital is a special investment. Several studies examine the hypothesis that venture capitalists play an active role in the companies which they invest in, provide mentor and strategic advice, help with bringing innovative products to the marketplace, and assist at the recruitment of top managers. Other studies hypothesize that the presence of venture capitalists is useful for certifying the value of companies to the marketplace, and venture capitalists play an important role in the governance of the companies which they invest. According to these special characteristics of venture capital, the effect of venture capital on the firms' alliance strategy is analyzed, and the relationships among venture capital, absorptive capacity and technology strategy alliance strategy are studied.

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venture capital / technology alliance / absorptive capacity / medium role

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Long Yong, Mei Deqiang, Chang Qinghua. The impact of venture capital on high-tech firms' alliance strategy: Based on the medium role of absorptive capacity[J]. Science Research Management. 2011, 32(7): 76-84

References

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