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The purpose of this chapter is to analyse how in recent years the rediscovery that extreme inequality is returning to advanced economies and has become widespread. What is at issue are the causes of this inequality. It is becoming clear that the wider population, particularly in Anglo-American economies have not shared in the growing wealth of the countries concerned, and that the majority of this wealth is being transferred on a continuous and systemic basis to the very rich. Corporate governance and the pursuit of shareholder value it is argued has become a major driver of inequality.

The current statistical evidence produced by leading authorities including the US Federal Reserve, World Economic Forum, Credit Suisse and Oxfam are examined. The policy of shareholder value and the mechanisms by which the distributions from business take place are investigated from a critical perspective.

While the Anglo-American economies are seeing a return to the extremes of inequality last witnessed in the 19th century, the causes of this inequality are changing. In the 19th century great fortunes often were inherited, or derived by entrepreneurs from the ownership and control of productive assets. By the late 20th century as Atkinson, Piketty and Saez (2011) and others have highlighted, the sustained and rapid inflation in top income shares have made a significant contribution to the accelerating rate of income and wealth inequality.

The intensification of inequality in advanced industrial economies, despite the consistent work of Atkinson and others, was largely neglected until the recent research of Picketty which has attracted international attention. It is now acknowledged widely that inequality is a serious issue; however, the contemporary causes of inequality remain largely unexplored.

The significance of inequality, now that it is recognized, demands policy and practical interventions. However, the capacity or even willingness to intervene is lacking. Further analysis of the debilitating consequences of inequality in terms of the efficiency and stability of economies and societies may encourage a more robust approach, yet the resolve to end extreme inequality is not present.

The analysis of inequality has not been neglected and this chapter represents a pioneering effort to relate the shareholder value orientation now dominant in corporate governance to the intensification of inequality.

In October 2020, Zambia failed to make a $42.5 million interest payment on $1 billion in Eurobonds maturing in 2024, becoming the first African country to default on its debt obligations in the aftermath of COVID-19. Zambia's default highlights the fragmented nature of governance in sovereign debt markets. The Zambian default also underscores the continuing impact of colonial hangover in former colonies in Africa. Fragmented governance and colonial overhang create incentives for both debtors and creditors that contribute to cycles of sovereign debt. These cycles of debt pose a particular hazard to residents within countries that issue such debt. In African contexts, this has led to flows of funds for debt repayment that may significantly jeopardize the well-being of people who are already poor. Zambia's default also reflects the increasing need of African countries to navigate among different external actors, particularly China, which has given loans throughout Africa for varied projects, including infrastructure lending as part of its Belt and Road Initiative. The Zambian default draws attention to the significant amount of Eurobond debt African countries have incurred in recent years and the burdens that such debt may impose. The circumstances of Zambia's default, as well as recent disputes about external debt in Mozambique, reflect continuing issues about transparency and public scrutiny of sovereign debt transactions and the broader societal impact of debt internally within African countries and in relations between African countries and varied external powers.

The importance of succession in family business is well documented and there is general agreement that successful succession represents a key factor in the success or otherwise of individual businesses owned and run by families. The importance of gender in family business succession is a much more recent topic, where initial work has focussed very much on the increasing tendency for women to take on the family business as a successor. Far less research, however, considers the scenario where a female leader passes on the business, whether that takes the form of family succession, a new leader from out with the family or indeed business sale. This dearth of research is not entirely surprising: whilst female leaders in a family business context are not new, their numbers have been relatively small and often mediated through the lens of co-preneurship with a male partner. As women increasingly succeed to and found family businesses however, the gender dimension within family business succession develops and the research response forms the basis for this chapter.

The Equator Principles are a transnational corporate social responsibility initiative in the project finance sector. In 2013, the Equator Principles Association celebrated the tenth anniversary of its principles and at the same time the formal launch of the latest generation of the Equator Principles (EP III). The paper describes the historic development of the Equator Principles – from the initial drafting process in the early 2000s up to the latest review process which led to the third generation of the Equator Principles. The paper also analyzes the current state of affairs of the Equator Principles (Association) and gives a brief outlook on potential lines of (future) development. In particular, the paper deals with the following questions: What are the main characteristics of the Equator Principles framework? What are the relevant actors involved in the drafting and reviewing process? Why are the EPs and other organizational and associational codes of conduct in the finance sector so important? What has been achieved so far by the Equator Principles (Association) and the participating (financial) institutions and what remains to be done?

We live in the Age of Knowledge, which is impelling us towards the Age of Imagination. The technological wave rises and with it rises a wave of change that will affect both the economy and society. When these two waves will reach the coast where knowledge meets ignorance, and how to ride them, are questions that require us to imagine the future. We must, therefore, embark on the vessel of imagination, leaving behind us the baggage of what we know and understand. Imagination is not just the springboard for ideas; it also acts to connect ideas in different ways that may blossom in the garden of an entrepreneurial renaissance. Symbols, metaphors and concepts that belong to our tacit knowledge come to light in our memory. It is from here that the imagination draws its lifeblood, broadening our horizons, inducing us to interact with others who may be the bearers of other cultures. Are we ready to engage in an imaginative learning process to join business with innovation and art? Are we prepared to design a wide-open white space where the actors of entrepreneurship, innovation and art can generate a constructive tension that will sweep away what appears to be mutual antagonism or incompatibility?

This chapter aims to evaluate the relationship between the representation of women on corporate boards of directors and its impact on firm financial performance.

This study utilized both a systematic review and a meta-analysis, using a sample of 40 published studies, which gleaned financial indicator and observation data from 28 different countries.

As indicated in previous studies, while positive, there was no significant correlation found between the number of women serving on the boards of directors and firm financial performance.

The heterogeneity between the various studies analyzed may present difficulties in making general conclusions. The chapter could also be subject to publication bias, as the selection criteria included may indicate a need for further peer review. Future meta-analyses should include data associated with other financial indicators.

This study shows how composition ratios of men/women serving on corporate boards should be addressed in terms of proving for a greater diversity of leadership perspectives.

Previous systematic reviews and meta-analyses have analyzed country environments as moderators for the relationship between the representation of women on corporate boards and firm financial performance. The present study evaluates possible differences between the impact of the number of women serving on the board of directors on a variety of financial indicators (ROA, ROE, and Tobin’s Q).

Luxury consumption in the Czech Republic and other post-socialist countries has a shorter history than in the developed Western countries. The historical development of these countries still reflects the differences in buying behaviour. The chapter focusses on luxury travellers' behaviour and consumption patterns in the Czech Republic. In the Czech Republic, where the concept of old luxury has prevailed, it is already possible to observe a gradual shift towards a new luxury travel model. This new luxury model is associated with a high level of comfort and privacy, exclusive location and first-class services and new elements such as travelling, authenticity and sustainability.

The chapter provides different perspectives on consumption patterns. It points to consumer behaviour in luxury travel in dependence on the selected sociodemographic variables and spatial determinants. It also reveals the luxury-driven travel motivation and preferences on a luxury holiday. The results show that Czech luxury travellers are different in comparison with the traditional European markets. The Czechs fall behind the European luxury travellers, especially regarding the financial possibilities. As far as the Czech luxury traveller profile is concerned, the category of baby boomers with tertiary education and regular income is the most dominant among Czech affluent clients. The satisfaction of the needs for relaxation and the exploration of new destinations are the primary motives for taking luxury holidays. Concerning the regional income inequality, disparities between the capital city of Prague and the rest of the country are observed.

This chapter examines regulatory experimentation in relation to gender equality and the gender pay and representation gaps. The corporate sector has long promoted a voluntarist ‘business case’ for equality as part of their wider agenda to promote CSR, an approach that fits within the second web of rules. However, slow progress prompted governments to introduce proactive legislative measures such as gender pay gap reporting and gender quotas. At the same time, the traditional web of joint regulation continues to be relevant with trade unions using equal pay litigation to challenge the historical undervaluation of work by low-paid women and negotiate new collective pay structures to deliver tangible benefits to low-paid women. Union litigation in the UK local authority sector and the New Zealand care sector are compared. The chapter argues that the three webs are more usefully understood as complements rather than substitutes.

The issues of women empowerment and gender equality have gained the increased attention of scholars and policymakers in Western societies. Gender diversity and the professional participation of women are increasingly acknowledged as transversal drivers for economic development. However, in less developed countries, research and evidence are still accumulating. Thus, this study aims to explore actors and factors empowering female talent to work and achieve managerial positions and run their businesses in two countries with patriarchal social and cultural norms, Saudi Arabia and Kazakhstan. Based on the qualitative interview data collected from 15 female managers and entrepreneurs working in the healthcare sector, we explore the conditions under which women can start their businesses and get promoted to managerial positions in the organizations. Our findings indicate that individual agencies and structural factors in female talent capacity building and empowering women to achieve higher hierarchical positions in organizations form together important dynamics that foster more inclusive practices and internalized schemes. Furthermore, the findings also demonstrate the importance of female talent empowerment in achieving gender diversity in managerial positions in healthcare organizations. Hence, by stating that increased female talent participation in the upper-echelons of the organization and entrepreneurship contributes to the decent employment of women in countries with male-dominated social and cultural norms and promotes the more inclusive and sustainable economic growth of these countries, our research contributes to United Nations (UN) Sustainable Development Goals (SDG) #5.5, #8.5 and #10.2.