Internal corporate joint ventures: Development processes and performance outcomes

Abstract Joint venture activity and internal corporate venturing represent two administrative innovations receiving increased attention in strategic management research. This study investigates a new hybrid form of administrative innovation: internal corporate joint ventures , which combine the equity involvement typically found in joint ventures with the internal staffing of a semiautonomous unit typical of internal corporate ventures. Drawing on both a process model and a variance model, the structuring, development and performance of 53 such ventures in an industry‐specific setting is examined.