Empirical Research on (Corporate) Entrepreneurship - Seminar I of the Major Management
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Empirical Research on (Corporate) Entrepreneurship Seminar I of the Major Management Prof. Dr. David Bendig | Maximilian Kortmann, M.Sc. May 2021
Let us introduce ourselves
Who we Prof. Dr. David Bendig Maximilian Kortmann, M. Sc.
are Head of Chair of Entrepreneurship Research assistant at the Chair of
Entrepreneurship
Research ▪ Behavioral leadership and organization ▪ Corporate Venture Capital (CVC)
focus ▪ International strategy ▪ Corporate Entrepreneurship
▪ Entrepreneurship and innovation ▪ Green investments and sustainability
Working ▪ The Boston Consulting Group: Top Management Consultant ▪ Bain & Company: Strategy Consultant
experience ▪ Founder and business angel ▪ A.T. Kearney, Bayer Business Consulting, Simon-Kucher &
▪ Assistant Professor at RWTH Aachen Partners, PwC, Daimler: Internships
Educational ▪ Head of Chair of Behavioral International Management at ▪ University of Cologne: Master of Science | CEMS Master
background OVGU Magdeburg ▪ National University of Singapore: Exchange semester
▪ Ph.D. at RWTH Aachen University ▪ University of Applied Sciences Aachen: Bachelor of Science
▪ Tsinghua University Beijing: Lecturer and visiting scholar ▪ Edinburgh Napier University: Bachelor of Arts (Honours)
▪ Catholic University Eichstätt-Ingolstadt: Master of Science
Prof. Dr. David Bendig 2
Center for Management | Institute for Entrepreneurship
The chair of Entrepreneurship offers a diverse selection of topics
Core streams
Lean Operations Cross-cultural
Management Supporting streams
Crowdfunding, Interdisciplinary streams
Corporate Finance:
Blockchain and Entrepreneur- Shareholder Value
Crypto- ship and and Crisis
currencies Transformation Management
International
Entrepreneur- International
ship and Strategy &
Innovation Management
Influence of
Innovation in Top Manager
Healthcare Psychology Marketing Strategy
(CEOs, CMOs,
CFOs, etc.)
Digitization and Family Firms
Industry 4.0 and SMEs
Prof. Dr. David Bendig 3
Center for Management | Institute for Entrepreneurship
Fact Sheet: Empirical Research on (Corporate) Entrepreneurship
Focus of the course Format
• Understand the latest scientific methods of • 12 ECTS within the framework of the PO
(Corporate) Entrepreneurship Master (2010) for the Major Management
• Exemplary questions: Deliverables for grading (in groups of 4)
• “How does the top management team • Seminar paper
(TMT) impact CVC activities?” • Presentation on latest research
• Does superior “green” performance • Collaboration with local start-up (incl.
correlate with firm performance? final presentation)
What to expect Application
• Analyze current data sets using empirical • CfM internal registration period:
and methodological techniques 10.05.2021 - 30.05.2021
• Get first-hand insights in the start-up • Registration forms are available as online
world and work on real-life problems forms from 10.05.20 on the CfM website
• Optimally prepare for your Master thesis (www.wiwi.uni-muenster.de/cfm/) and
can be filled out directly on the site
Prof. Dr. David Bendig 4
Center for Management | Institute for Entrepreneurship
Corporate Venturing:
Corporate venture capital activity is on the rise
• Start-up acquisitions by large firms gain increasing
importance to participate in new venture
innovativeness and novel technologies
• Large incumbents with a strong focus on different
start-up acquisitions – e.g., the automotive industry
with focus on mobility start-ups: VW invests Gett;
Daimler acquired MyTaxi; GM invests in Lyft;
Toyota invests in Uber
– press releases
• In 2018, corporate venture capital (CVC) accounted
for ~23% of all investment deals made in external
start-ups globally Wayra 2019
• Number of CVC investments accelerated over the
past years in terms of volume and size Wayra 2019
▪ 2013: 1,000 | $10.6B
▪ 2018: 2,700 | $53.0B
Prof. Dr. David Bendig 5
Center for Management | Institute for Entrepreneurship
Sustainability:
Corporates face increased pressure from politics and investors
• Regulatory pressure on greenhouse gas (GHG)
emissions has steadily increased since the Paris
Agreement in 2015, in which ~200 parties
committed to limit global warming UNFCC 2021
• Pressure is not bound to politics – Blackrock, the
world’s largest investor, demands C-level executives
to strive for climate-neutral operations
– press releases
• For companies, sustainability and ESG evolve into
mission-critical topics with direct economic
implications, e.g. – press releases
▪ Tesla’s recent profits largely depend on its ability
to sell CO2-certificates to competitors
▪ Newly launched “green” financial products (e.g.
green bonds or ETFs) allow better access to
capital for sustainable companies
Prof. Dr. David Bendig 6
Center for Management | Institute for Entrepreneurship
Research Methods:
Academia increasingly exploits more sophisticated data analysis
• Endogeneity exists when an independent variable
(IV) in a regression model equation correlates with
the disturbance term
• Endogeneity issues in empirical research models
may lead to inconsistent estimations and threaten
to infer causal effects
• In recent years, statistical methods to mitigate
endogeneity concerns receive increasing attention
in the management literature e.g. Wolfolds & Siegel,
2019
• Examples for mitigating endogeneity issues are:
▪ Impact Threshold of a Confounding Variable
(ITCV)
▪ Control functions
Prof. Dr. David Bendig 7
Center for Management | Institute for Entrepreneurship
Research avenues offer a plethora of exciting research questions
EXEMPLARY
Corporate Venturing Sustainability Research Methods
• Topic 1: How does the top • Topic 1: Do green patents result • Topic 1: What is the threshold
management team (TMT) impact in greenhouse gas (GHG) impact a variable not measured in
CVC activities? reductions? the research model could have?
• Topic 2: What are drivers of • Topic 2: Do diverse top mgmt. • Topic 2: How can estimation
corporate venturing activity teams (TMT) perform better in problems be solved via two-stage
among companies? terms of GHG reductions? fractional regression models?
• Topic 3: Does CVC activity foster • Topic 3: Does superior “green” • Topic 3: How can control
innovativeness at the parent performance correlate with firm functions help to correct for
company? performance? endogeneity problems?
• … • … • …
Classic regression analysis Advanced statistical analysis
Perfect preparation 8
Prof. Dr. David Bendig
for PhD-track
Center for Management | Institute for Entrepreneurship
This course will introduce you to academic research and prepare
you for your master thesis
• The course will prepare you to write your master thesis
through literature research, data crunching, and academic
writing
Academia
• You will get to know academic research first-hand by
analyzing a large dataset Business
development
• You will also get acquainted with advanced tools for statistical
analysis Entrepreneurs
• You will work on real-life business problems for local start- Innovation
Management
ups and provide clear recommendations as a student Statistical
consulting team analysis Strategy
consulting
• You will learn to work collaboratively and diligently since the
course will be challenging
Prof. Dr. David Bendig 9
Center for Management | Institute for Entrepreneurship
Timeline for the seminar Empirical Research on (Corporate)
Entrepreneurship
Date Description
05th May 2021 Course information event
You will be asked to:
10th – 30th May 2021 Registration period • Form groups of 4 with your
fellow students
Mid June 2021 Allocation of seminar participants • Vote for your preferred
research topic
Mid/end June 2021 Team allocation and survey about preferences
• Vote for a start-up you would
July 2021 or August 2021 Kick-off lecture and topic/ start-up allocation like to collaborate with
Mid August – December 2021 Working period in groups (incl. 2 dedicated feedback slots per group)
6th – 7th September 2021 Stata course (optional but highly recommended)
10th December 2021 Hand-in of full seminar paper
13th – 17th December 2021 Final presentations (research state + start-up collaboration)
Prof. Dr. David Bendig 10
Center for Management | Institute for EntrepreneurshipThe course grading consists of three components
Written paper: Oral presentation: Start-up deliverable:
Seminar paper Research state Consulting project
Summarize your findings in a seminar paper Prepare a presentation on the current state Present the results from your work as student
as part of a team and provide your do-files of research (same team) consultants for local start-ups (same team)
Grading criteria Grading criteria Grading criteria
• Critical discussion of the topic • The presentation reflects the essential • The presentation provides actionable
• Theoretical positioning in the scientific contents of the seminar paper advice and clear recommendations to
context • Clear structure entrepreneurs
• Derivation of the developed hypotheses • Appealing visualization / free style of • Clear structure
• Scientific method / analysis (incl. do-files) presentation • Appealing visualization / free style of
• Compliance with formal requirements • Keeping to the time frame presentation
(see chair guidelines) • Keeping to the time frame
Length: ~30 pages Duration: 30 minutes (incl. 10 minutes Q&A) Duration: 30 minutes (incl. 10 minutes Q&A)
Weight: 40% Weight: 20% Weight: 40%
Prof. Dr. David Bendig 11
Center for Management | Institute for EntrepreneurshipAny open questions?
Please write all your
questions in the zoom
chat – we will answer
them one by one
Prof. Dr. David Bendig 12
Center for Management | Institute for EntrepreneurshipYou can also read
