Corporate Venture Capital: How established firms use external resources to create new competencies

This Doctoral Dissertation is triggered by an emergent trend: firms are increasingly referring to investments in corporate venture capital (CVC) as means to create new competencies and foster the search for competitive advantage through the use of external resources. CVC is generally defined as the practice by non-financial firms of placing equity investments in entrepreneurial companies. Thus, CVC can be interpreted (i) as a key component of corporate entrepreneurship - acts of organizational creation, renewal, or innovation that occur within or outside an existing organization– and (ii) as a particular form of venture capital (VC) investment where the investor is not a traditional and financial institution, but an established corporation. My Dissertation, thus, simultaneously refers to two streams of research: corporate strategy and venture capital. In particular, I directed my attention to three topics of particular relevance for better understanding the role of CVC. In the first study, I moved from the consideration that competitive environments with rapid technological changes increasingly force established corporations to access knowledge from external sources. Firms, thus, extensively engage in external business development activities through different forms of collaboration with partners. While the underlying process common to these mechanisms is one of knowledge access, they are substantially different. The aim of the first study is to figure out how corporations choose among CVC, alliance, joint venture and acquisition. I addressed this issue adopting a multi-theoretical framework where the resource-based view and real options theory are integrated. While the first study mainly looked into the use of external resources for corporate growth, in the second work, I combined an internal and an external perspective to figure out the relationship between CVC investments (exploiting external resources) and a more traditional strategy to create competitive advantage, that is, corporate diversification (based on internal resources). Adopting an explorative lens, I investigated how these different modes to renew corporate current capabilities interact to each other. More precisely, is CVC complementary or substitute to corporate diversification? Finally, the third study focused on the more general field of VC to investigate (i) how VC firms evaluate the patent portfolios of their potential investee companies and (ii) whether the ability to evaluate technology and intellectual property varies depending on the type of investors, in particular for what concern the distinction between specialized versus generalist VCs and independent versus corporate VCs. This topic is motivated by two observations. First, it is not clear yet which determinants of patent value are primarily considered by VCs in their investment decisions. Second, VCs are not all alike in terms of technological experiences and these differences need to be taken into account.

Studi sull'epigramma scoptico greco

The dissertation is divided into two parts: the first synthesis focused on the definition of the epigram scoptico imperial age, the second analysis concerns the study of the minor poets of Book XI. In the Introduction (I), the attention focuses on the genesis of imperial scoptic epigram: here you try to draw a picture of the satirical Greek literature before the middle of the century AD to identify the debts of the scoptic epigram, especially Lucillius’, in respect of previous authors (from the Middle-up comedy to epigrams of the Crown of Philip), and to emphasize the remoteness of this literary phenomenon from other experiences of ironic and satirical poetry (Catullus). In the chapter on the Themes (II), the study was limited to professional groups and those most targeted (doctors, grammarians, etc..), to that particular type represented by the satire on ethnic groups. The study of minor poets is necessarily preceded by a general discussion on the authors most representative of the greek satiric poetry: Lucillius, Ammianus, Nicarchus and Palladas (III). All the minor poets of the eleventh book, which you can not provide a date, have been regarded by scholars as the ‘poets of Diogenian’: the chapter on Anthologion of Diogenian (IV), which is undergoing critical to the existence (assumed but never proven) of the lost source of Book XI, therefore, serves as an introduction to the commentary of the authors required minors. During the discussion they are not qualified as poets ‘poets of Diogenian’, but are divided into two categories: those included in the string of alphabetically ordered AP XI 388-436 (V), and those who are not part of (VI). Finally, a separate chapter (VII) is devoted to the age-old question of epigrams assigned to Lucian, both in the string of alphabetically ordered epigrams, as well as outside it.

Acta andreae et bartholomaei (bhg 2056, cant 238): Edizione critica e commento della versione greca

Gli Atti di Andrea e Bartolomeo sono un testo cristiano apocrifo, probabilmente ascrivibile al V secolo d.C. e collocabile in àmbito egizio. Tale testo è tramandato in greco, copto, arabo ed etiopico e il presente lavoro consiste nell’edizione critica della versione greca, sinora inedita. La storia narra l’evangelizzazione della Partia per opera degli apostoli Andrea e Bartolomeo e di un antropofago dalle sembianze mostruose (Cristomeo/ Cristiano), convertito al cristianesimo e divenuto instrumentum fidei.