Reuther, JanaJanaReuther2023-04-132023-04-132023-02-20https://www.alexandria.unisg.ch/handle/20.500.14171/107738In this dissertation, I investigate the phenomenon of the raison d'être of Corporate Venturing (CV) programs that are designed to help companies maintain their positions in their business environments. I explore what (additional) value can be achieved during the CV process and develop a framework for the optimal design, implementation, and termination of a CV program. This research was driven by a lack of transparency and measurability of CV program development. Although scholars have been studying CV for decades, research findings are fragmented and sometimes contradictory as CV programs are viewed as failures or even discontinued while facing the persistent lack of understanding and unmet objectives. As a result, I contribute to literature and practice by presenting new insights into CV value extraction and a tool concept that can be used to bring CV practice to the next level thus promoting innovation in companies. The first paper provides new evidence for the existence and relevance of CV through marginal performance spillovers that are caused by CV investments into the core business of a corporation. I introduce the importance of business strategy and the idea of problemistic search to explain these spillovers. In this context, I also consider the role of past performance. I make a methodological contribution by running quantitative research with a European panel data set an area that has been rather neglected in CVC research so far. The second paper highlights the urgent need for a navigator tool that can successfully establish, execute, and terminate CV programs, as well as the urgent call for research to better evaluate such programs through created transparency and measurability. For this reason, I present a Corporate Venturing Navigator (CVN) concept, which includes the CVN-Framework and CVN-Cockpit. Contributions to the CV literature and design science research theory are made. In the third paper, the developed CVN concept is discussed, evaluated, and further enhanced for practical application. I refine and extend the elements, interdependencies, and dynamics for both artefacts, the CVN-Framework and CVN Cockpit, through case studies. Overall, I contribute to existing CV, innovation, and strategy literature by using an unprecedented data sample, applying a familiar methodological approach in a new domain, and developing and evaluating Corporate Venturing Navigator, which can be used as a guide and a measurement tool.enInnovationEntrepreneurshipUnternehmensgründungInvestitionEDIS-5303VCCVCInvestmentCorporate venturingStartupVenturingopen innovationdoctoral thesis