E‐commerce new venture performance: how funding impacts culture

Emerald - 2001
R.H.Hamilton1
1R.H. Hamilton is an Assistant Professor of Management at Georgia State University, Atlanta, Georgia, USA.

Tóm tắt

New venture “startups” are financed via three standard methods: self‐funding, “friends and family” or possibly “angel” investors; seed capital from venture capitalists; and large corporations’ venture funds. Each of these financial structures has its own set of risk and reward trade‐offs. Corporate venture funding has been seen as the least risky funding method, but also the least likely to be available for the entrepreneur. Each of these funding methods is likely to engender a different kind of corporate culture that could impact the e‐commerce venture’s long‐term development. The self‐ or privately‐funded company must continuously scramble for scarce funds and may not be able to develop internally the necessary culture of knowledge creation. Companies supported primarily by venture capitalists may develop a culture that over‐focuses on quick return of capital to investors. Alternatively, the slow decision‐making processes of large corporations are often antithetical to Internet time.

Từ khóa


Tài liệu tham khảo

Chesbrough, H. (2000), “Designing corporate ventures in the shadow of private venture capital”, California Management Review, Vol. 42 No. 3, pp. 31‐49.

Christopher, A. (2000), “Corporate venture capital: moving to the head of the class”, Venture Capital Journal, 1November, p. 1.

Etzel, B. (2000), “As NASDAQ swoons, corporate VC fills financing gap”, The Investment Dealer’s Digest, 16October, p. 9.

Grant, R. (1998), Contemporary Strategy Analysis, 3rd ed., Blackwell, Malden, MA.

Harmon, S. (1999), Zero Gravity, Bloomberg Press, New York, NY.

Hyam, T. (2000), “Corporates blaze the venture trail”, Corporate Finance, September, pp. 16‐19.

Kapler, R. (2000), “There must be 50 ways to fix your e‐business”, USBanker, September, p. S27.

Karlgaard, R. (1998), “Dollars from heaven: a choir of angels bedevils the VCs”, Forbes, 1 June, pp. 23‐6.

King, J. (2000), “CEO: Partnership hurt Toysmart’’, Computerworld, 12 June, p. 116.

Kroll, K. (2000), “’Dumb’ is smart’’, Industry Week, 12 June, p. 27.

Longenecker, J., Moore, C. and Petty, J. (2000), Small Business Management: An Entrepreneurial Emphasis, 11th ed., Southwestern, Cincinnati, OH.

Moriarity, G. (1999), “The new smart money: once considered dumb, corporate venture capital is now sought by entrepreneurs”, The Investment Dealer’s Digest, 22 November, pp. 16‐21.

Paparelli, C. and Steele, R. (2000), “Start‐up capital recession”, Techlinks, Vol. 3 No. 6, pp. 20‐1.

Peters, T. and Waterman, R. (1982), In Search of Excellence, Free Press, New York, NY.

Prahalad, C. and Hamel, G. (1990), “The core competence of the corporation”, Harvard Business Review, Vol. 68 No. 4, pp. 79‐91.

Stolze, W. (1999), Start up: An Entrepreneur’s Guide to Launching and Managing a New Business, 5th ed., Career Press, Franklin Lakes, NJ.

Thompson, A. and Strickland, A. (1995), Strategic Management, 8th ed., Irwin, Chicago, IL.

Thông tin
Thông tin xuất bản

Emerald

Thông tin tác giả