基于技术创新的企业主导型创业投资研究-管理科学与工程专业论文.docxVIP

A A Study On Corporate Venture Capital Based On Technology Innovation Graduate：PAN Qing-hua Supervisor：DA Qing·li Submitted to：Southeast University Abstract In today’s fast paced environment,technology innovation is crucial to gain sustainable competitive advantage for large established companies．But large established companies face the risk of focusing too heavily their existing business．thus failing to grasp the opportunities of new technologies．This is especially true for firms to realize high returns．The corporate venture capital(CVC)business mode。which invests in highly innovative small entrepreneurial firms by non．financial corporate．represents possibility to avoid the piffall of rigidity．However， the CVC mode is complicated；a formula for its successful implementation has not been found．By using systematical analysis，logical reasoning，analogism，interdisciplinary study,case study,qualitative analysis，and quantitative analysis，the mechanism of the corporate venture capital and how to structure corporate venture capital programs systematically studied in this thesis． nlis dissertation consists nine chapters．The inwoducfion to this thesis is giyen in chapter one．The theories using in this thesis reviewed in chapter two．The forming mechanism ofthe CVC is studied in chapter three． Organizational boundaries of COlT}orate venture capital programs is discussed in Chapter 4． A biology．1ike model of organization structure，CVCs’incentive issues and the virtual operating model of CVC syrstem are studied in chapter five．A new evaluation indices system of individual investments is presented．Syndication of venture capital investments and the emergence and evolution of syndication networks are analyzed in chapter seven．Case is studied in chapter eight．Finally,the conclusion of this dissertation is drawn and the future research orientation is provided． The primary works in this dissertation are as followings： (1)The forming mechanism and the choice of investment channel of CV