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A review of the literature provides a solid reason to believe that an increase in environmental, social and corporate governance (ESG) activities have a positive impact on banks’ default risk (DR). However, the increasing impact of climate risk on credit, operational and market risks, as well as the reduced availability of funding for banks that underperform in terms of ESG risk, is a concern. Therefore, the purpose of this study is to verify the relevance of the implementation of ESG policies to a bank’s DR, against the background of macroeconomic and bank-specific factors.

Using a data set of 303 commercial banks from 61 countries from 2012 to 2021 and a panel regression methodology, the empirical importance of ESG activities for bank DR is documented. The two-stage generalized method of moments estimator was used to test the research questions.

Comparing different factors, the results highlight the positive impact of ESG activities on the bank’s DR. However, this relationship varies according to the specific pillars of the bank’s sustainability policies and changes into negative ones.

This paper fits the domain of DR management research, investigating whether ESG performance affects bank DR while controlling macroeconomic and market drivers. Prior literature has shown evidence on the relationship between macro and market forces and a bank’s risk profile while a limited one on the non-market drivers. The main contribution is to consider ESG (in total and as separate pillars) as independent drivers of the bank risk profile.

The outbreak of the coronavirus pandemic (COVID-19) has severely disrupted businesses around the world. To address the impact of operational and strategic business disruptions, this paper contributes to the practice of a firm's management in terms of identifying the determinants of organizational resilience (OR) and creating a hierarchical model of the potential sources of a firm's adaptive capability.

A novel research framework integrating Pareto analysis, grey theory and total interpretive structural modeling (TISM) has been applied to, first, identify the sources of a company's resilience and, second, to determine contextual relations among these sources of OR.

The findings of the survey highlight three primary sources that allow companies to build companies' resilience: access to financial resources, digitization level and supply chain (SC) collaboration. The authors' model shows that resilience cannot be viewed as a particular feature but rather as a dynamic intertwined network of different co-dependent sources.

The proposed hierarchical model indicates that the most crucial sources of company's resilience in the recent pandemic are access to financial resources, digitization level and SC collaboration.

The study takes an original investigation on cognitive grounds, touching on the problem of firms' resilience to the unique nature of the crisis caused by the COVID-19 pandemic. The study also represents one of the few attempts to use integrated Pareto analysis, grey theory and TISM to examine this critical area of firm management.

Brexit has caused a visible disruption to the established and accepted web of rules governing European markets. Our study, based on a survey of Polish firms operating in the UK market, aims to identify Polish firms’ perceptions of Brexit and select characteristics of groups of firms exhibiting similar perceptions of uncertainty. The perception of uncertainty itself was measured along two separate dimensions – uncertainty about future arrangements between the EU and the UK and uncertainty about institutional agility in the UK. The results are analyzed using the cluster method. The findings identify three types of firms that we have named as alarmist, the concerned, and the oasis of peace, within which the largest group are companies that view Brexit as a non-significant threat (the oasis of peace), unlike the other two groups (alarmist and the concerned). Those perceived differently are mostly firms having larger size, greater involvement into the British market and longer-term experience in that market.

Crises are often studied in international business (IB) research as the external “context” for business strategies, but firms can also be active participants in the unfolding of crises. The study of crises in IB could benefit greatly from studying the role of multinational enterprises (MNEs) as active participants, rather than as mere passive actors, responding to exogenous events. History shows that IB crises typically unfold partially as exogenous processes, and partly as the result of MNE strategies. A multilevel and longitudinal approach to studying crises in IB is clearly necessary. This chapter considers the extent to which smaller events that preceded the present crisis – since 1989 – point to systemic problems in global governance. It also defines five overlapping lenses through which future IB studies can further create relevant insights on how to deal with crises: historic, macro, meso, micro and exogenous. The chapter finally serves as an introduction to the whole Progress in International Business Research volume by indicating the relevance of all parts and chapters that follow.

“Teaching the European Union” is a term as elusive as the notions of “EU Studies” or “European Studies,” both discussed and debated by generations of scholars and practitioners. The case of the EU, and of the art of teaching EU-related content, is one of the most striking examples, where the emphasis on values and principles cannot be passed by indifferently. What is being taught and how it is being taught have a direct impact on the trajectory of the European integration process today and in the years to come. The objective of this introductory chapter is to offer a brief insight into the book’s context and the book’s relevance. Against this backdrop this volume’s content is outlined. A few points for the readers to consider follow.

As the international context in which the EU operates evolves, the liberal conceptions of socio-economic and political cooperation are contested. Generational change in the EU member states drives a substantial change in citizens’ and politicians’ perceptions of the EU’s role in the world. It is not only the manner and the quality of political discourse that change as we speak. The fundamental values, principles and historically consolidated alliances and loyalties are questioned by new generations of voters and politicians who lost the feeling of duty, attachment and loyalty toward previous generations that are gone. This chapter reviews the key points raised in this volume to highlight that apart from teaching EU-related content, and for this matter, any content, today it is necessary to teach the students to think independently first.

The European Union (EU) faces numerous political and socio-economic challenges, both of an external and domestic nature, which must be tackled by this international organization. Universities also have to respond to these challenges by proposing new curricula, including ones related to EU subjects, and new ways of transferring knowledge. This also means that the adopted approach toward teaching about the EU should be modernized and go beyond simple and straightforward teaching about EU institutions and policies. The objective of this chapter is to present an approach toward teaching EU-related subjects concerning entrepreneurship and management of EU funds in Poland based on the example of the University of Economics in Katowice. The following research questions were elaborated: How to boost the acquisition of skills related to entrepreneurship? What are the best practices that can be promoted? How can the discussed university expands its educational offer? Also with the use of EU funds that can be adjusted to the needs of the region and the expectations of the young people.