The role of ESG in the decision to stay or leave the market of an invading country: The case of Russia

Anup Basnet, Magnus Blomkvist and Emilios Galariotis

Economics Letters, 2022, vol. 216, issue C

Abstract: We study firms’ decisions to stay or leave the Russian market amid the invasion of Ukraine. Lower ESG scores increase the likelihood of keeping the Russian operations unchanged. Higher scores lead to less negative stock market reactions following complete exits.

Keywords: Russian invasion; ESG; Human rights scores; Market exit; Stock market reaction (search for similar items in EconPapers)
JEL-codes: G14 G32 H56 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:216:y:2022:i:c:s0165176522002026

DOI: 10.1016/j.econlet.2022.110636

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