CORPORATE VENTURE CAPITAL INVESTMENT OF NETWORK CHARACTERISTICS AND INNOVATION: TAIWAN
SEMICONDUCTOR INDUSTRY

Ta-Shun Cho
Dept. of Business Administration, MingDao University, Taiwan
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Abstract

This work focuses on network linkages among high-tech firms with the intention of strate-gic growth and innovation by intra-industry corporate venture capital (CVC) investment network analysis. A strategic investment model is also developed based on the case of Tai-wan semiconductor industry. Additionally, this exploratory study of the 55 listed Taiwan semiconductor firms empirically analyzed network effects of intra-industry CVC invest-ment activities. The examined indictors of network effects were reachability, degree cen-trality, constraint and betweenness centrality with corresponding network characteristics of visibility degree, active degree, strategic position and degree of information control. The network characteristics of the firm itself were examined for associations with firm innova-tion capability (i.e., number of output patents) by Pearson correlation analysis. Finally, the findings derived from the empirical results provide four implications and strategic direc-tions for the semiconductor intra-industry CVC investment activities.

Keywords: Corporate Venture Capital (CVC), Network Analysis, Network Characteris-tics, Innovation, Semiconductor Industry, Taiwan

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