NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Corporate Venture Capital as a Real Option in the Markets for Technology

Marco Ceccagnoli, Matthew J. Higgins, Hyunsung D. Kang

NBER Working Paper No. 21424
Issued in July 2015

---- Acknowledgments ----

We thank Deloitte ReCap for their assistance and generous access to data. We also thank Ashish Arora, Anne Assmus, Brent Bellows, Gary Dushnitsky, Mark Edwards, Stuart Graham, Carolin Haeussler, Dietmar Harhoff, Sherry Knowles, Richard Manning, Bastian Rake, Frank Rothaermel, Mike Stonebrook, Jerry Thursby, seminar participants at Georgia Institute of Technology and University of Passau and conference participants at the Academy of Management for helpful comments and suggestions. Higgins gratefully acknowledges funding from the Imlay Professorship. The authors are listed alphabetically and the usual disclaimer applies. Any remaining errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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