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

Anup Basnet (), Emilios Galariotis and Magnus Blomkvist ()
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Anup Basnet: UNIS - University of Surrey
Emilios Galariotis: Audencia Business School
Magnus Blomkvist: Audencia Business School

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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.

Date: 2022
New Economics Papers: this item is included in nep-cis, nep-dem and nep-tra
Note: View the original document on HAL open archive server: https://hal.science/hal-03689077
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Citations: View citations in EconPapers (3)

Published in Economics Letters, 2022, 216, pp.110636. ⟨10.1016/j.econlet.2022.110636⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03689077

DOI: 10.1016/j.econlet.2022.110636

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