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This chapter theorizes a proposal for applying the study of Brexit as a pedagogical strategy in an European Studies (ES) bachelor program, as a means to activate theoretical knowledge for different disciplinary and thematic fields of study about the European Union. The proposal uses the problem-based learning (PBL) approach as a pedagogical methodology and the bachelor of ES at the Faculty of Arts and Humanities at the University of Coimbra as a case study to rehearse teaching innovation. It is based on a theoretical part, conciliating PBL as a pedagogical tool in social sciences and humanities with the exceptionalism of Brexit within the European integration theories and the study of European policies to activate and question prior scientific knowledge, and on a survey to bachelor’s students and alumni on the pertinence of PBL and of Brexit as an empirical element for scientific knowledge in ES. As a result, specific proposals to use Brexit in PBL experiences in different disciplinary areas of ES are made, paving the way for a range of teaching and learning opportunities and challenges released by Brexit to make progress in the ES pedagogical framework.

On 23 June 2016, 51.9% of those who voted in the UK referendum on membership of the European Union (EU) opted to leave. The impact of this result upon both British and European politics has been profoundly disruptive and divisive. It not only marks a ‘seismic moment in post-war British politics’ (McGowan, 2018, p. 4) but has also disrupted expectations for the European project; no Member State had previously left the Union. Political institutions have been thrown into disarray, many citizens remain in a situation of existential uncertainty, and the political realm is cleaving. What has come to be known as ‘Brexit’ seemingly marks a crisis; a tear or a wrench in the very fabric of European politics, or perhaps a knot in which different socio-political tendencies have become entangled. In this chapter, the authors are interested not so much in diagnosing the factors that led to Brexit as they are the different interpretations that the ‘Brexit crisis’ is now being given. The authors map out five readings of ‘the Brexit crisis’ and contend that any attempt to grasp the meaning of Brexit demands drawing on all of them.

The purpose of this chapter is to analyse the theoretical work conducted in the fields of management of small businesses in the UK and control measures taken by them to cope with challenges that emerged due to complexities of the present uncertain environment. Brexit is one such event which brought in drastic changes in the undertaking of business and the management of small enterprises. The study upon which this chapter is based identifies knowledge in terms of economics, political events and human resource management (HRM), considering the impact and consequences of Brexit on small businesses. Much of the content developed will help establish a strong link as to what happened after the withdrawal of the UK from the European Union.

A structured work was applied to synthesise the theoretical understanding. A search of the existing literature was done to select the databases and keywords of the primary search. Then, a backward search was implemented to examine the references of the selected papers, and finally, a forward search examined the citations of the selected papers. The selected papers were then classified according to their content. A thorough search of the existing literature was done in Scopus, and Google Scholar using a combination of keywords such as Brexit, UK and EU, consequences and drawbacks of Brexit, and small businesses in the UK.

The findings of this study show that small businesses started opting for newer and innovative technologies to facilitate the generation of more revenues. Aspects of E-commerce, however, turned out to be the foundation of developing industrial organisations, bringing more adequate capabilities to effectively facilitate activities such as strategic planning. Whilst governments frequently fund non-profit organisations, increased concerted support for more able and growth-capable small businesses which make significant economic and social contribution would seem appropriate in the current Brexit change climate.

The small businesses sector will need to undertake a cohesive input to government decision-making since a key pre-requisite will be the maintaining of balance between survival, maintenance of existing business, as well as the availability of semi-skilled and unskilled workers and other vital underpinning resources. Moreover, this underlying study has limitations in terms of practice orientation since it is theoretical and sectional in approach, providing a static picture of the Brexit event and its impacts on small businesses in the UK.

Thus, this chapter offers researchers a broader and more comprehensive view of the impact and consequences of Brexit on UK small businesses. Educators, researchers and practitioners will benefit. Scholars in years to come will retrospectively address whether independence from the EU has nudged or nurtured small business development of appropriate entrepreneurial skills and new technology to enable adaptation to and co-creation of the change which Brexit has triggered.

This paper aims to explore the value of geographic diversification in the context of deglobalization, drawing evidence from a quasi-natural experiment – the Brexit referendum that took place on 23 June 2016 in the UK.

This study applies an event study methodology to estimate the impact of the Brexit vote on a cross-section of firms with varying levels of geographic diversification – undiversified UK firms, UK firms with significant operations in the European Union (EU) and globally diversified UK firms. This study deploys a Heckman two-stage regression approach to address sample selection bias.

This study finds that undiversified UK firms experienced negative cumulative abnormal returns (CARs) around the Brexit referendum. The value of UK firms with majority sales within the UK declined by 0.9 percentage points, on average, in the three days centred on the Brexit referendum. In contrast, UK firms that are globally diversified, with the majority of sales within the EU are unaffected, while diversified firms in the rest of the world generated positive CARs of 1.8 percentage points over the same period. These results are robust to firm characteristics, selection bias and alternative measures of CARs and diversification.

This study is subject to some limitations that open avenues for future work. There are a few available proxies of diversification and further work on developing other proxies is much needed. Further work may also examine the long-term impact of diversification on UK firms. This study considered Brexit as a quasi-natural experiment, and this study could be applied to other deglobalization events like COVID-19 and can enhance the generalizability of diversification strategy in the deglobalized world. Findings may stimulate future work to explore how another form of diversification – product diversification has affected firm returns around Brexit. Finally, this study has focused on the UK as its base case. It may be interesting to corroborate the findings by exploring the impact of Brexit on European firms, who hitherto Brexit, had some operations in the UK.

This work offers some insights for policymakers and regulators around the impact of deglobalization on local firms. Findings suggest that these trends significantly negatively impact the most vulnerable firms (smaller firms with less global reach), while their larger counterparts with significant global reach might be insulated. This finding is important for determining the nature of support needed by different firms in times of deglobalization. The work also offers insights to managers of firms operating in countries where there are real prospects of deglobalization. Specifically, the work highlights the importance of geographic diversification when free movement of goods, services and people is restricted.

This study shows that a certain group of globally diversified firms earned significantly higher returns from the prospect of the UK leaving the EU, thereby highlighting the value of geographic diversification in a time of deglobalization.

Following the United Kingdom's (UK) withdrawal from the European Union (EU), there is uncertainty in the financial services industry on equivalence of regulatory regimes. This also affects the insurance industry. As of now, it is not clear if the UK’s supervisory regime (“Solvency UK”) will be classified as equivalent to the European Solvency II supervisory regime. After no equivalence decision was taken during the Brexit transition period and there are efforts by the UK in the form of the UK Solvency II Review and the Financial Services and Markets Bill to adapt Solvency II more to the characteristics of the national insurance market, the uncertainties are intensified. Although Solvency II non-equivalence would have a significant impact on insurance groups operating in both the UK and the EU, there has been no detailed analysis of whether these initiatives could have an impact on a future Solvency II equivalence decision. The purpose of this paper is to address and close this research gap with a literature review and a subsequent equivalence mapping and discussion.

Based on the literature review methodology, this paper draws on academic sources as well as publications from governments and regulators, articles from consultancies and subject matter experts and uses this literature to provide an overview of the current state of research on equivalence in the wider financial services industry, but specifically on Solvency II equivalence, the UK Solvency II Review and the Financial Services and Markets Bill. Based on this literature review, the paper also forms the basis for an innovative and forward-looking Solvency II equivalence mapping and discussion.

Several articles state that differences between Solvency II and Solvency UK could harm a future Solvency II equivalence decision. The UK Solvency II Review and the Financial Services and Markets Bill are two initiatives that support the objective of aligning the Solvency II supervisory regime more closely with the circumstances of the UK insurance market. Although both initiatives contribute to the fact that Solvency UK differs in parts from Solvency II, based on the literature review and the subsequent equivalence mapping and discussion, there are currently no reforms that should harm future Solvency II equivalence decisions.

This paper provides a previously non-existent overview of equivalence in the wider financial services industry, but specifically on Solvency II equivalence, the UK Solvency II Review and the Financial Services and Markets Bill, and brings them together in an innovative equivalence discussion. It thus presents the current state of knowledge on Solvency II after Brexit and develops it further around a mapping against the equivalence criteria. As non-equivalence could have significant implications for insurance groups operating in both the UK and the EU, this paper is a useful and practical study that provides a previously non-existent equivalence mapping and discussion based on current initiatives and publications. It thus closes the research gap identified and reduces uncertainties in the insurance industry and can be used as a blueprint for detailed and forward-looking equivalence mappings and discussions for the wider financial services industry.

Three years on from the Brexit vote, while it remains a central topic for debate in the media, there has been limited discussion about the human resource (HR) implications. The purpose of this paper is to provide theoretical evaluation and informed discussion, distilled into four interconnected propositions, on how employee resourcing as a HR practice may be impacted following actual Brexit decisions.

Drawing on the employee resourcing literature, the paper adopts a discursive approach which examines how the UK’s decision to exit the European Union will affect HR practice. The paper draws comparison with the global recession since 2008, a similarly unprecedented development in its discussion of employee resourcing practices and draws parallels which may help to inform the future of HR practices in the UK, because of Brexit.

This paper offers a set of propositions; the flow of talent into the UK may become more restricted and reinvigorate the “war for talent” that followed the effects of the global financial crisis on the UK. To attract and retain workers in relatively lower-skilled roles, employers may be faced with a need to re-skill such roles and adopt more flexible working arrangements. Finally, to meet skilled employment requirements, removal of restrictions to recruit from within the European Economic Area may trigger increased global migration of skilled workers.

This paper contributes to the discussions regarding the implications of Brexit for HR practice by offering propositions to shape future research agendas.