Open business models and venture capital finance

Industrial and Corporate Change

Volumn 25, Issue 2, 2016, Pages 353-370

  Colombo, Massimo G ^a   Cumming, Douglas ^b   Mohammadi, Ali ^c   Rossi Lamastra, Cristina ^a   Wadhwa, Anu ^d  

^a POLITECNICO DI MILANO   (Italy)

^b YORK UNIVERSITY   (Canada)

^c ROYAL INSTITUTE OF TECHNOLOGY   (Sweden)

^d IMPERIAL COLLEGE LONDON   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

BUSINESS DEVELOPMENT; CAPITAL; INDUSTRIAL INVESTMENT; MODEL TEST;

UNITED STATES;

EID: 84971434583     PISSN: 09606491     EISSN: 14643650     Source Type: Journal    
DOI: 10.1093/icc/dtw001     Document Type: Article

References (82)

1. Allio, R. J. (2004), "CEO interview: the InnoCentive model of open innovation', Strategy and Leadership, 32(4), 4-9
2. Alexy, O. and G. George (2013), "Category divergence, straddling, and currency: open innovation and the legitimation of illegitimate categories", Journal of Management Studies, 50(2), 173-203
3. Altintig, Z. A., H. Chiu and M. S. Goktan (2013), "How does uncertainty resolution affect VC syndication?", Financial Management, 42(3), 611-646
4. Amit, R. and C. Zott (2001), "Value creation in e-business", Strategic Management Journal, 22(6-7), 493-520
5. Amit, R. and C. Zott (2012), "Could your company benefit from a new business model? Consider these six questions", MIT Sloan Review, 53, 41-49
6. Aslett, M. (2009), Open to Investment: Venture Funding for Open Source 1997-2008. THE 451 GROUP: New York, NY
7. Aslett, M. (2010), Open to Investment: Venture Funding for Open-Source-Related Vendors. THE 451 GROUP: New York, NY
8. Bascle, G. (2012), "Controlling for endogeneity with instrumental variables in strategic management research", Strategic Organization, 6(3), 285-327
9. Bengtsson, O. and D. H. Hsu (2010), "How do venture capital partners match with startup founders?", Working Paper edn. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1568131
10. Bergemann, D. and U. Hege (1998), "Venture capital financing, moral hazard, and learning", Journal of Banking and Finance, 22(6-8), 703-735
11. Bertoni, F., M. G. Colombo and L. Grilli (2011), "Venture capital financing and the growth of high-tech start-ups: disentangling treatment from selection effects", Research Policy, 40(7), 1028-1043
12. Bertoni, F., M. G. Colombo and L. Grilli (2013), "Venture capital investor type and the growth mode of new technology-based firms", Small Business Economics, 40(3), 527-552
13. Bonaccorsi, A., S. Giannangeli and C. Rossi (2006), "Entry strategies under competing standards: hybrid business models in the open source software industry", Management Science, 52(7), 1085-1098
14. Brander, J. A., R. Amit and W. Antweiler (2002), "Venture-capital syndication: improved venture selection vs. the value-added hypothesis", Journal of Economics and Management Strategy, 11(3), 423-452
15. Bygrave, W. D. (1987), "Syndicated investments by venture capital firms-a networking perspective", Journal of Business Venturing, 2(2), 139-154
16. Capra, E., C. Francalanci, F. Merlo and C. Rossi-Lamastra (2011), "Firms" involvement in open source projects: a trade-off between software structural quality and popularity", Journal of Systems and Software, 84(1), 144-161
17. Casadesus-Masanell, R. and G. Llanes (2011), "Mixed source", Management Science, 57(7), 1212-1230
18. Casamatta, C. and C. Haritchabalet (2007), "Experience, screening and syndication in venture capital investments", Journal of Financial Intermediation, 16(3), 368-398
19. Cao, J., F. Jiang and J. R. Ritter (2013), "Patent-and innovation-driven performance in venture capital-backed IPOs", SSRN 2364668
20. Chesbrough, H. W. (2003), Open Innovation: The New Imperative for Creating and Profiting from Technology. Harvard Business School Press: Boston, MA
21. Chesbrough, H. W. (2006), Open Business Models: How to Thrive in the New Innovation Landscape. Harvard Business School Press: Boston, MA
22. Chesbrough, H. W. (2007), "Why companies should have open business models", MIT Sloan Management Review, 48(2), 22-27
23. Chesbrough, H. W. and M. M. Appleyard (2007), "Open innovation and strategy", California Management Review, 50(1), 57-76
24. Colombo, M., A. Mohammadi and C. Rossi-Lamastra (2014), "Innovative business models for high-tech entrepreneurial ventures: the organizational design challenges", in N. J. Foss and T. Saebi (eds), Business Model Innovation: The Organizational Dimension. Oxford University Press: Oxford, UK
25. Colombo, M. G., E. Piva and C. Rossi-Lamastra (2013), "Authorising employees to collaborate with communities during working hours: when is it valuable for firms?", Long Range Planning, 46(3), 236-257
26. Cumming, D., B. Haslem and A. M. Knill (2011), "Entrepreneurial litigation and venture capital finance", Working Paper edn.: International Conference of the French Finance Association (AFFI). http://ssrn.com/abstract=1786479
27. Cumming, D., and U. Walz (2010), "Private equity returns and disclosure around the world", Journal of International Business Studies 41(4), 727-754
28. Dahlander, L. (2007), "Penguin in a new suit: A tale of how de novo entrants emerged to harness free and open source software communities", Industrial and Corporate Change, 16(5), 913-943
29. Dahlander, L. and M. G. Magnusson (2005), "Relationships between open source software companies and communities: observations from Nordic firms", Research Policy, 34(4), 481-493
30. Dahlander, L. and M. Magnusson (2008), "How do firms make use of open source communities?", Long Range Planning, 41(6), 629-649
31. Dahlander, L. and M. W. Wallin (2006), "A man on the inside: unlocking communities as complementary assets", Research Policy, 35(8), 1243-1259
32. Dushnitsky, G. and T. Klueter (2010), "Is there an eBay for ideas? Insights from online knowledge marketplaces", European Management Review, 8(1), 17-32
33. Filieri, R. (2015), "Why do travelers trust tripadvisor? Antecedents of trust towards consumer-generated media and its influence on recommendation adoption and word of mouth", Tourism Management, 51, 174-185
34. Fosfuri, A., M. S. Giarratana and A. Luzzi (2008), "The penguin has entered the building: the commercialization of open source software products", Organization Science, 19(2), 292-305
35. Gandal, N. (1995), "Competing compatibility standards and network externalities in the pc software market", Review of Economics and Statistics, 77(4), 599-608
36. George, G. and A. J. Bock (2011), "The business model in practice and its implications for entrepreneurship research", Entrepreneurship Theory and Practice, 35(1), 83-111
37. Goldman, R. and R. P. Gabriel (2005), Chapter 2-Innovation Happens Elsewhere. Morgan Kaufmann: San Francisco, CA
38. Gompers, P. A. (1995), "Optimal investment, monitoring, and the staging of venture capital", The Journal of Finance, 50(5), 1461-1489
39. Gompers, P. and J. Lerner (2001), "The venture capital revolution", The Journal of Economic Perspectives, 15(2), 145-168
40. Gompers, P. and J. Lerner (2004), The Venture Capital Cycle, 2nd edn. MIT Press: Cambridge, MA
41. Gruber, M. and J. Henkel (2006), "New ventures based on open innovation-an empirical analysis of start-up firms in embedded Linux", International Journal of Technology Management, 33(4), 356-372
42. Hall, B. H. and J. Lerner (2012), "The financing of RandD and innovation", in B. H. Hall and N. Rosenberg (eds), Elsevier Handbook of the Economics of Innovation. Elsevier: Amsterdam, The Netherlands
43. Hellmann, T. and M. Puri (2000), "The interaction between product market and financing strategy: The role of venture capital", Review of Financial Studies, 13(4), 959-984
44. Henkel, J. (2009), "Champions of revealing-the role of open source developers in commercial firms", Industrial and Corporate Change, 18(3), 435-471
45. Hsu, D. H. (2006), "Venture capitalists and cooperative start-up commercialization strategy", Management Science, 52(2), 204-219
46. Hsu, D. H. (2007), "Experienced entrepreneurial founders, organizational capital, and venture capital funding", Research Policy, 36 (5), 722-741
47. Hsu, D. H. and R. H. Ziedonis (2013), "Resources as dual sources of advantage: implications for valuing entrepreneurial-firm patents", Strategic Management Journal, 34(7), 761-781
48. Jaaskelainen, M. (2012), "Venture capital syndication: synthesis and future directions", International Journal of Management Reviews, 14(4), 444-463
49. Kaplan, S. N. and P. Stromberg (2004), "Characteristics, contracts, and actions: evidence from venture capitalist analyses", Journal of Finance, 59(5), 2177-2210
50. Katz,M. L. and C. Shapiro (1985), "Network externalities, competition, and compatibility", American Economic Review, 75(3) 424-440
51. Lakhani, K. R. and E. Von Hippel (2003), "How open source software works: "Free" user-to-user assistance", Research Policy, 32(6), 923-943
52. Laursen, K. and A. Salter (2006), "Open for innovation: the role of openness in explaining innovation performance among UK manufacturing firms", Strategic Management Journal, 27(2), 131-150
53. Lerner, J. (1994), "The syndication of venture capital investments", Financial Management, 23(3), 16-27
54. Lerner, J. and J. Tirole (2002), "Some simple economics of open source", Journal of Industrial Economics, 50(2), 197-234
55. Li, Y. (2008), "Duration analysis of venture capital staging: a real options perspective", Journal of Business Venturing, 23(5), 497-512
56. Mann, R. J. and T. W. Sager (2007), "Patents, venture capital, and software start-ups", Research Policy, 36(2) 193-208
57. Nahata, R. (2008), "Venture capital reputation and investment performance", Journal of Financial Economics, 90(2), 127-151
58. O'Mahony, S. (2003), "Guarding the commons: how community managed software projects protect their work", Research Policy, 32(7), 1179-1198
59. O'Mahony, S. and B. A. Bechky (2008), "Boundary organizations: enabling collaboration among unexpected allies", Administrative Science Quarterly, 53(3), 422-459
60. O'Mahony, S. and F. Ferraro (2007), "The emergence of governance in an open source community", Academy of Management Journal, 50(5), 1079-1106
61. Perr, J., M. M. Appleyard and P. Sullivan (2010), "Open for business: emerging business models in open source software", International Journal of Technology Management, 52(3-4), 432-456
62. Petkova, A., A. Wadhwa, X. Yao and S. Jain (2014), "Reputation and decision making under ambiguity: a study of U.S. venture capital firms" investments in the emerging clean energy sector", Academy of Management Journal, 57 (2), 422-448
63. Piva, E., F. Rentocchini and C. Rossi-Lamastra (2012), "Is open source software about innovation? Collaborations with the open source community and innovation performance of software entrepreneurial ventures", Journal of Small Business Management, 50(2), 340-364
64. Saebi, T. and N. J. Foss (2015), "Business models for open innovation: matching heterogeneous open innovation strategies with business model dimensions", European Management Journal, 33(3), 201-213
65. Sahlman, W. A. (1990), "The structure and governance of venture-capital organizations", Journal of Financial Economics, 27(2), 473-521
66. Sandulli, F. D. and H. Chesbrough (2009), "The two sides of open business models", SSRN: http://ssrn.com/abstract=1325682
67. Shapiro, C. and H. R. Varian (1998), "Versioning: the smart way to sell information", Harvard Business Review, 76(6), 106-111
68. Sorensen, M. (2007), "How smart is smart money? A two-sided matching model of venture capital", Journal of Finance, 62(6), 2725-2762
69. Spaeth, S., G. Von Krogh and F. He (2015), "Perceived firm attributes and intrinsic motivation in sponsored open source software projects", Information Systems Research, 26, 224-237
70. Stam, W. (2009), "When does community participation enhance the performance of open source software companies?", Research Policy, 38 (8), 1288-1299
71. Teece, D. J. (1986), "Profiting from technological innovation-implications for integration, collaboration, licensing and public-policy", Research Policy, 15(6), 285-305
72. Teece, D. J. (2010), "Business models, business strategy and innovation", Long Range Planning, 43(2-3), 172-194
73. Tian, X. (2011), "The causes and consequences of venture capital stage financing", Journal of Financial Economics, 101(1), 132-159
74. Tian, X. (2012), "The role of venture capital syndication in value creation for entrepreneurial firms", Review of Finance, 16(1), 245-283
75. Tian, X. and T. Y. Wang (2014), "Tolerance for failure and corporate innovation", Review of Financial Studies, 27(1), 211-255
76. Von Krogh, G., S. Haefliger, S. Spaeth and M. W. Wallin (2012), "Carrots and rainbows: motivation and social practice in open source software development", MIS Quarterly, 36(2), 649-676
77. Wang, S. S. and H. L. Zhou (2004), "Staged financing in venture capital: moral hazard and risks", Journal of Corporate Finance, 10(1), 131-155
78. Wen, W., M. Ceccagnoli and C. Forman (2016), "Opening up IP strategy: implications for open source software entry by start-up firms", Management Science
79. West, J. (2007), "Value capture and value networks in open source vendor strategies", Paper presented at the System Sciences, 2007
80. HICSS 2007. 40th Annual Hawaii International Conference on Jan 2007. IEEE
81. Zott, C. and R. Amit (2007), "Business model design and the performance of entrepreneurial firms", Organization Science, 18(2), 181-199
82. Zott, C., R. Amit and L. Massa (2011), "The business model: recent developments and future research", Journal of Management, 37(4), 1019-1042