Influence of Venture Capital and Knowledge Transfer on Innovation Performance in the Big Data Environment

Wu, Chuanrong; Yang, Xiaoming; Lee, Veronika; McMurtrey, Mark E.

doi:10.3390/jrfm12040188

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Influence of Venture Capital and Knowledge Transfer on Innovation Performance in the Big Data Environment

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School of Economy and Management, Changsha University of Science & Technology, Changsha 410114, China

College of Business Administration, University of Nebraska at Omaha, Omaha, NE 68182, USA

College of Business, University of Central Arkansas, Conway, AR 72035, USA

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J. Risk Financial Manag. 2019, 12(4), 188; https://doi.org/10.3390/jrfm12040188

Received: 30 October 2019 / Revised: 2 December 2019 / Accepted: 9 December 2019 / Published: 12 December 2019

(This article belongs to the Special Issue Venture Capital and Private Equity)

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Abstract

Technological innovation requires large investments. Venture capital (VC) is a prominent financial source for innovative start-ups. A venture capitalist will inevitably transfer knowledge to facilitate the innovation of a firm while monitoring and advising its portfolio companies. Only when a firm has its own valuable new knowledge and high growth potential would venture capitalists select it. At the same time, big data knowledge, such as customer demands and user preferences, is also important for the new product development of a firm in the big data environment. Therefore, private knowledge transferred from venture capitalists, new knowledge developed independently by a firm itself, and big data knowledge are the three main types of knowledge for venture-backed firms in the big data environment. To find the influences of VC and knowledge transfer on the innovative performance of venture-backed firms, a model of maximizing the present value of the expected profit of new product innovation performance of a venture-backed firm in the big data environment is presented. The model can help venture capitalists to determine the scale of investment and the optimal exit time and predict the internal rate of return (IRR). This model can also help innovative start-ups to illustrate the value and prospects of a project to attract investment in their business prospectus. View Full-Text

Keywords: venture capital; big data; knowledge transfer; venture capitalist; innovation performance

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MDPI and ACS Style

Wu, C.; Yang, X.; Lee, V.; McMurtrey, M.E. Influence of Venture Capital and Knowledge Transfer on Innovation Performance in the Big Data Environment. J. Risk Financial Manag. 2019, 12, 188. https://doi.org/10.3390/jrfm12040188

AMA Style

Wu C, Yang X, Lee V, McMurtrey ME. Influence of Venture Capital and Knowledge Transfer on Innovation Performance in the Big Data Environment. Journal of Risk and Financial Management. 2019; 12(4):188. https://doi.org/10.3390/jrfm12040188

Chicago/Turabian Style

Wu, Chuanrong, Xiaoming Yang, Veronika Lee, and Mark E. McMurtrey. 2019. "Influence of Venture Capital and Knowledge Transfer on Innovation Performance in the Big Data Environment" Journal of Risk and Financial Management 12, no. 4: 188. https://doi.org/10.3390/jrfm12040188

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