Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 2, 2019 erstellt
Beschreibung:
We examine firms' corporate venture capital (CVC) investing activities from a disclosure and financial reporting perspective. The CVC industry has matured to become a driving force for innovation in today's corporate landscape, yet there is very little research from accounting scholars. We document the type of details that firms provide about their CVC activities, as well as show that they tend to disclose fewer details when they invest in industries outside their own core business. We also document that firms with a CVC program, relative to similar firms without a CVC program, tend to make more future acquisitions and report an increased number of product segments but are not more likely to have future write-offs of goodwill and intangible assets. Our findings suggest firms with a CVC program have more awareness of and access to acquirable technologies and that CVC investing has a positive impact on firms' future financial reporting