Analyse de la réaction géopolitique et normative des firmes opérant en Russie à l’agression de l’Ukraine

Abstract

This article studies the effect of Russia’s aggression against Ukraine on the exit decisions by foreign companies operating in Russia. We introduce a geopolitical approach of International Management to explore these decisions in the context of deglobalization. We also consider firms’ ESG criteria to explain their exit decisions. We utilize a multiple regression analysis to test the effect of these variables on a sample of around 2000 firms. Our results show that the exit decisions have been made more in conformity with the geopolitical orientation of country of origin than based on their economic interests. ESG criteria and shared values in the country of origin (Democracy and Human rights) also significantly affect exit decisions.