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Does the adoption of the Enterprise Risk Management (ERM) improve bank profitability? Does ERM also reduce bank risk? By analyzing a sample of banks located in European emerging markets between 2005 and 2013, the aim of this chapter is to empirically investigate the determinants of firm performance, both in terms of bank profitability and risk, with respect to the adoption of Enterprise Risk Management (ERM). In order to capture the effect of the ERM program adoption on banks’ performance, we both use market-based measures as well as accounting-based indexes. Following the seminal literature on the topic (Aebi, Sabato, & Schmid, 2012; Eckles et al., 2014; Ellul & Yerramilly, 2013; Hoyt & Liebenberg, 2003, 2011; Lin, Wen, & Yu, 2012; Pagach & Warr, 2010), we adopt a binary proxy variable, that is, the appointment of a Chief Risk Officer (CRO), to define whether the firm is currently undertaking an ERM program. Our results show that a post-ERM firm experiences an increase in the risk-adjusted profits and a reduction of the overall risk.

The purpose of this study was to examine the 2007-2009 financial crisis to analyze how securitization relates to the Italian bank risk profile, both in terms of credit and liquidity risks.

To test our research hypotheses, we adopt ordered probit models, in which we regress the changes in credit risk and liquidity on a set of regressors, including two securitization dummy variables plus a vector of control variables.

Our results show that the impact of securitization on the originators risk-taking is not uniform. When credit risk is considered, the securitization effects seem to be statistically significant only during the crisis period. However, when we turn to analyze the bank’s liquidity position, our results show that securitization improves it both during the pre-crisis and the crisis years. Our results support the Basel III initiatives aimed to realize a better integration between the different types of risks (i.e. credit and liquidity risks).

The major limitation of our study is related to the analyzed geographic area.

First, our results support the Basel III initiatives aimed to realize a better integration between the different types of risks (i.e. credit and liquidity risks). In general, the broad policy implication of the paper is that in some contexts, such as the Italian market, securitization does not necessarily produce negative effects in terms of bank’s risk.

This study contributes to the empirical literature on the effects of securitization for banks in several ways. First, we consider the complexity of the bank’s risk profile; second, despite the importance of the Italian securitization market, there is a research void on it. Furthermore, unlike previous studies, our analysis covers the period 2000-2009, including the financial crisis years. Finally, to our knowledge, our methodology (ordered probit models) has not been used in the past in this context.

The chapter aims to examine the number, type, and international presence of European companies (Italian, Spanish, French, German, Dutch, Rumanian, Bulgarian, and English) operating in the renewable energy industries, as well as Chinese companies. Through the analysis of two businesses that have established partnerships and a wholly foreign owned enterprise (WFOE) in China, the chapter identifies the main elements of their management strategies that led to successful operation in China.

To analyze the main characteristics and the internationalization of the European firms operating in the renewable energy industry, we collected information from secondary data. To identify the successful business models to operate successfully in China, we adopted a qualitative case study approach, based on direct interviews and information published on the company websites and articles found on the web.

European enterprises encounter difficulties in approaching the Chinese market, which is rapidly developing as a result of the latest five-year plan setting energy and climate change targets and policies. Indeed, the number of European firms investing in China is low. Through the analysis of two business cases (Asja and Caleffi) that have established partnerships and a WFOE in China, the chapter identifies the main elements of their management strategies that led to successful operation in China.

The relatively small number of cases (two) limits the generalizability of our findings. However, we are convinced that the size of our case companies and their experience in China mean our results are well grounded, although more research is needed.

To the best of our knowledge, this is the first study that has explored the business models adopted by European firms operating in the renewable energy industry in China.

Belonging to the financial technologies’ companies, equity-based crowdfunding platforms offer investors the opportunity to become shareholders through the purchase of small equity stakes of new innovative ventures. This paper aims to investigate gender-related differences in the behaviour of investors in firms seeking equity financing in Latin America.

Using a unique database, with combined information from different equity crowdfunding platforms in Brazil, Chile and Mexico, the authors study the population of 492 projects between 2013 and 2017. To analyse the relationship between investors’ gender-related differences and equity crowdfunding investment, this paper applies Poisson regression.

Results suggest that the probability that an investor finances a firm is based on gender bias. Investors prefer firms led by entrepreneurs that are similar to them in terms of gender. Furthermore, the authors find evidence that both female and male investors are risk-averse and are more likely to invest in the equity of firms that are older and offer a higher percentage of equity. However, female investors are associated with firms that are on average older and offer 0.02% more equity.

These findings have implications for crowdfunding platforms managers when selecting their target companies and policymakers when defining political actions to promote greater use of equity crowdfunding among female entrepreneurs and decrease barriers hindering women’s access to investment.

Unique in its proposition and data usage, this study sheds light on the relationship between investors and entrepreneurs in the Latin American equity crowdfunding market.

This paper aims to investigate whether the perceived level of corruption influences companies' decision to address principles and standards aimed, inter alia, at fighting corruption [i.e. Sustainable Development Goals (SDGs), (2) United Nations Global Compact (UNGC), (3) International Standards Organisation (ISO) 26,000 and (4) Organisation for Economic Co-operation and Development (OECD) Guidelines] in companies' sustainability reporting.

The paper uses a sample of 1,171 sustainability reports published in the year 2017 by organisations from Asia and Africa's low- and middle-income countries.

Results from the Probit model reveal that corruption negatively affects corporate sustainability reporting activity. Indeed, the more companies are exposed to high levels of corruption, the less likely they appear to engage in sustainability reporting. Furthermore, the authors find clear regional and sector-level differences in the extent to which companies engage in sustainability reporting. The results show that Asian companies operating in the agricultural and financial services sectors exhibit significantly higher reporting activity, whilst those operating in the construction and mining sectors report less than the sectors' peers.

The authors' findings provide important implications for understanding companies' behaviour in the sustainability reporting in emerging economies as well as for designing corporate social responsibility (CSR) disclosure initiatives in the future.

This paper provides a better understanding of the impact of corruption on companies' reporting behaviour in the context of emerging economies.

It is well understood that women’s work situations are critical to their well-being during pregnancy and in terms of potential risks to the fetus. It has also long been known that undocumented women workers face particularly difficult work conditions and being undocumented precludes access to key social benefits (i.e. public health insurance, paid maternity leave, child benefits and subsidized daycare) that support pregnant women and new mothers. Yet, this paper aims to write about the intersection of undocumented women’s pregnancy with work experiences.

Drawing on the results of a broader qualitative study that was focussed on access to healthcare for undocumented (and therefore, uninsured) women who were pregnant and gave birth in Montreal, Canada, the authors begin this paper with a review of the relevant literature for this topic related to the work conditions of undocumented women, how work exacerbates barriers to accessing healthcare and the resulting health outcomes, particularly in relation to pregnancy. The authors highlight the social determinants of health human rights framework (Solar and Irwin, 2010), before presenting methodology. In conclusion, the authors discuss how an understanding of undocumented women’s work situations sheds light on their pregnancy experiences.

The authors then present participants’ work conditions before becoming pregnant, working conditions while pregnant and employment options and pressures after giving birth.

The authors emphasize that attention to undocumented pregnant women’s work situations might help health and social service practitioners to better serve their needs at this critical point in a woman’s life and at the beginning of the life of their children, born as full citizens.

The aim of this research is to contribute to the existing literature about the entrepreneurial conditions in crowd-based contexts by describing how different European countries regulate equity crowdfunding market in order to incentive the investments and protect investors.

Based on a legal acts' analysis, we conduct a qualitative study comparing the crowdfunding regulation addressed to investors. In particular, we focus our analysis on the European countries with the highest concentration of crowdfunding platforms (i.e. the UK, Germany, France, Italy and Spain).

The results show that some countries, such as the UK, Germany and France, present an investor-oriented approach based on non-restrictive regulation, while other countries, such as Spain and Italy, have a restrictive approach that protects investors excessively and discourages them. In particular, the case study of France shows how the introduction of unrestricted regulation can produce positive effects on the volume of crowdfunding transactions.

The paper is addressed to investors, policymakers and intermediaries (platforms) to help the first in orienting themselves between the different crowdfunding regulations and the latter in aligning and orchestrating rules and norms.

This is the first study that analyses the role of investor-oriented regulations in the promotion of entrepreneurship through the identification of four key factors to monitor equity crowdfunding regulations.