Corporate activism during the 2022 Russian invasion of Ukraine
Mina Glambosky and
Stanley Peterburgsky
Economics Letters, 2022, vol. 217, issue C
Abstract:
We examine the market’s reaction to corporate activism in the context of the 2022 Russian invasion of Ukraine. We document a negative reaction to the announcement of divestment from Russia. The results are particularly pronounced for firms fully withdrawing from the country. However, evidence suggests that companies recover their initial losses over the following two weeks. We also find that corporate activists that act early (“leaders”) experience event-window stock price declines while those that act late (“followers”) do not.
Keywords: Corporate activism; Ukraine war; Ukraine invasion (search for similar items in EconPapers)
JEL-codes: G14 G30 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176522002099
Full text for ScienceDirect subscribers only
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:217:y:2022:i:c:s0165176522002099
DOI: 10.1016/j.econlet.2022.110650
Access Statistics for this article
Economics Letters is currently edited by Economics Letters Editorial Office
More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().