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Existing empirical evidence on the impact of environmental, social and governance (ESG) integration on momentum portfolios is limited. The combination of the two is relevant given the risk-mitigating effect of ESG criteria, as well as the existence of momentum crashes. As such, ESG might lend itself to reduce crash risk for momentum investors.

In this paper, the authors provide insight into the impact of an ESG-constrained investment universe on momentum returns. The overall investment universe is split into high and low ESG-rated segments to anylse the characteristics of momentum portfolios conditional on the ESG rating.

The authors document the existence of a momentum premium across European stocks and for a subset of high and lows ESG-rated stocks. However, absolute returns of momentum strategies are significantly lower if momentum strategies are pursued on a subset of high ESG stocks. Additionally, findings document a risk-mitigation effect of ESG for momentum portfolios with significantly lower returns for momentum portfolios based on low ESG stocks during periods of momentum crashes.

Research on momentum investing and the momentum premium is large and well established, yet many questions remain. A recent study by Daniel and Moskowitz (2016) has analyzed crash risk for momentum investors and identified periods of strong momentum crashes. On the other hand, the literature on ESG integration in standing investment approaches is still limited, but as demand for sustainable products is increasing, so is the demand for a better understanding of the impact of ESG integration. Consequently, the authors provide evidence on the benefits of ESG integration for momentum investors to reduce their exposure to momentum crash risk.

This work is keeping with the increasingly frequent studies that take into account a broader context challenging entrepreneurship as high-growth, technology-driven and venture capital-backed process. Addressed comprehensively in the migration studies, Mexicans are examples of those groups who are often ‘invisible’ when attempting to understand the dimension of entrepreneurship, since they are associated more like ‘workers’ than ‘entrepreneurs’. This research presents an exploratory case study of Mexican entrepreneurs in the province of Quebec, Canada context. It is a qualitative analysis using a methodology inspired by the grounded theory. Twenty-three interviews were conducted with Mexican residents of the cities of Montreal, Quebec and Gatineau. The main objective was to initiate a theorisation about the immigrant entrepreneurship phenomenon in a poorly documented group and context. Some conceptual categories were built from the perspective of the migrants themselves. The importance of previous experiences, family support and the reading of the territory to detect business opportunities were relevant. Routes of business entry profiles were detected. In addition, the ethnic positioning category (the social construction that is made in the host society according to the ethnic group to which immigrant entrepreneurs belong) is proposed. This category was a key to shape the structure of opportunity that allows the creation of businesses in the host cities.

Policymakers, academics and practitioners have recognised the potential of returnee entrepreneurs for the transfer of advanced knowledge to emerging and developing countries. Yet what factors determine the decisions to start a business – and what type of business – upon returning to the home country is relatively unclear. This paper aims to reveal to what extent different contextual factors influence the intention to return home to start a venture. In addition to overall intentions to start a returnee business, this study covers intentions towards starting businesses with different orientations.

This study builds upon a sample of 273 individuals originating from emerging economies who are on track to complete their overseas tertiary education in an advanced economy. Using primary survey data obtained from the participants, a structural equation model (SEM) based on our theoretical model was defined for hypothesis testing.

Findings suggest that the perception of a stable institutional environment stimulates returnee entrepreneurship, and that the perception of estrangement negatively affects the intention to start a new venture in the home country. The results further show that the availability of support may reduce perceived estrangement, thereby exerting an indirect, positive effect on returnee entrepreneurship. Importantly, the findings confirm that these effects vary across intentions to start ventures with different orientations.

This study extends previous literature on the phenomenon of returnee entrepreneurs which has primarily investigated returnee-owned ventures that are already in operation. In particular, the authors provide theoretical links between institutions and other contextual factors affecting returnee entrepreneurial intentions, and this study highlights that it is meaningful to consider not only the strength but also different types of intentions. Thereby, this paper provides refined perspectives on the assumed beneficial impact of returnee entrepreneurs on the economic and societal development of emerging economies.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

This chapter seeks to engage with and extend the current debate in the literature of ethnic entrepreneurship. It critiques the concept of ethnic entrepreneurship and its theoretical underpinnings. It argues that research in ethnic entrepreneurship bears little reflection of the current changes and new realities in the composition of modern societies. Based on qualitative primary data from interviews combined with secondary sources of data, it suggests that the term ‘ethnic entrepreneurship’ is discriminatory and creates a narrative of Othering in the discourse of entrepreneurship, thus, portraying entrepreneurship as a western phenomenon. It argues that it is contradictory to think entrepreneurship is fundamentally contextual, socially and culturally embedded, and then define enterprise with ethnic bias. The concept of ethnic entrepreneurship propagates entrepreneurial Othering and a reductionist view of non-western forms of entrepreneurship. What constitutes ethnic enterprise should not be based on the identity of the owner. The ethnic enterprise is not confined to a geographical boundary; and the ethnic economy and the mainstream economy are not mutually exclusive. In this era of superdiversity and globalisation, researchers are encouraged to rethink the concept of ethnic entrepreneurship and embrace difference without Othering.

This chapter explores how challenges potentially encourage refugees to engage in entrepreneurial activities and which adaptive mechanisms they employ in order to overcome the challenges. Semi-structured interviews with 12 refugee entrepreneurs were conducted in order to understand the underlying processes of the dynamics of challenges and adaptive mechanism within which the entrepreneurial outcomes emerged. The empirical findings of the study are evaluated in line with the parameters of the challenge-based model of entrepreneurship. A more nuanced picture of underdog entrepreneurs emerges along with a deeper understanding of the entrepreneurial activities of refugees.

The conceptual framework of Multicultural Hybridism is adopted to reflect the emerging themes of transnationalism and superdiversity in the context of ethnic minority migrant entrepreneurs breaking out of their ethnic enclaves into mainstream economy. It is constructed as an extension of Mixed Embeddedness theory (Kloosterman, 2006), given that ‘Multicultural Hybrid’ (Arrighetti, Daniela Bolzani, & Lasagni, 2014) firms display stronger resilience with a higher survival rate than enclaved businesses (Kloosterman, Rusinovic, & Yeboah, 2016). With further integration of incremental diversification typology (Lassalle & Scott, 2018), the current study adopts Multicultural Hybridism as a lens to explore the opportunity recognition capabilities of transnational, migrant entrepreneurs who are facilitated by the hybridity of opportunity recognition (Lassalle, 2018) from linking host-country and home-country cultures. The hybridity of opportunity recognition focuses on access to markets and resources between transnational ethnic and local multicultural mainstream markets. Through the theoretical lens of Multicultural Hybridism, interviews with 16 Birmingham-based Chinese migrant entrepreneurs have been analysed to shape a dynamic understanding of the multifaceted concept of breakout in a superdiverse and transnational context. The multilayered interpretation of breakout provides an enhanced understanding of the diversity of hybridism between transnational ethnic and local multicultural mainstream markets. This is seen from the perspectives of firm growth and social integration in the current locations and future spaces of transnational migrant entrepreneurs. It goes beyond the narrow imagination of breakout as an economic assimilation process, avoiding the singular conceptualisation of the host-country mainstream market as the only breakout destination for transnational ethnic entrepreneurs.

The purpose of this paper is to investigate the social construction of gendered subjects in entrepreneurship education (EEd), through the analysis of course descriptions. For this purpose, the analytical constructs of the Fictive Student and the Fictive Entrepreneur are developed.

Through analysis of 86 course descriptions from 81 universities in 21 countries, this study examines the degree to which course descriptions use gendered language, how such language constructs gendered subjects, and the resultant implications.

This paper finds that course descriptions are predominantly, but not exclusively, masculine in their language. More importantly, the distribution of feminine and masculine language is uneven across course descriptions. Context variables such as regional or national culture differences do not explain this distribution. Instead, the phenomenon is explained by course content/type; whereby practice-based entrepreneurship courses are highly masculine, compared to traditional academic courses, where students learn about entrepreneurship as a social phenomenon.

Universities and educators have not taken into account recent research about the real and possible negative consequences of positioning entrepreneurship in a stereotypical, masculinized fashion. This may offer an inexpensive opportunity to improve recruitment and description accuracy.

The paper’s contribution is fourfold. First, it contributes to debates on the gendering of entrepreneurship by extending these into EEd. Second, it extends Sarasvathy’s (2004) concern with barriers to, rather than incentives for, entrepreneurship to include EEd. Third, it contributes to the emerging literature on entrepreneurship as practice, by highlighting the masculization of EEd, as it gets closer to practice and the role of language in this. Finally, it highlights the gendered implications of English medium courses.

In the UK regions that are structurally more vulnerable are less able to respond to economic shocks (McCann, 2017). An economic downturn for a poorer region like the North East of England (Jenkins, Pike, & Tomaney, 2019) will mean it enters recession earlier and emerges from recession later than significantly wealthier regions like London and South East region in England or Amsterdam City region in the Netherlands. We ask, what can be done to improve the impact of policy interventions that support and develop weaker regional economies? Behind this chapter sit two elements of research study: a question, which asks, what if you develop a “great” policy, that is well researched and designed; however, it fails because the people who deliver it don’t have the right culture, values, or knowledge? The second element is that the authors are interested in a range of factors that affect not only policy implementation including entrepreneurship but also economic culture and social capital, looking at the problem from different disciplinary viewpoints (Baker & Welter, 2018). This chapter makes a comparative study between the North East of England and the Amsterdam City region to explore how policy implementation might be improved as other factors of place cannot be easily altered, these factors include major infrastructure, political systems, and budgetary control as well as overall economic wealth. What this means is that practical research and studies have to find factors that can be improved in order to achieve change and a greater economic impact on Places in this context, the North East of England.