Venturing into sustainability
: the impact of CVC on environmental and financial performance

  • Miguel Teixeira (Student)

Student thesis: Master's Thesis

Abstract

In this dissertation I investigate the impact of corporate venture capital (CVC) on corporate investors’ environmental and financial performance. Against the theoretical backdrop of Resource Based View, I find that a larger CVC portfolio has a positive effect on environmental scores of 0.18 points per venture. I also find that green CVC investors, i.e CVCs with at least one green startup in their portfolios, exhibit a 5.68 points higher environmental score and a 2.04 percentage point higher ROA, compared to traditional CVC investors. The sample consists of 75 U.S. firms with CVC activity between 2002-2022.
Date of Award10 May 2024
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorFátima Shuwaikh (Supervisor)

Keywords

  • Corporate venture capital
  • Environmental performance
  • Financial performance
  • Resource based view

Designation

  • Mestrado em Finanças

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