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; Emilios Galariotis

doi:10.1016/j.econlet.2022.110636

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
, Emilios Galariotis

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

48 Scopus citations

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.

Original language	English
Article number	110636
Journal	Economics Letters
Volume	216
DOIs	https://doi.org/10.1016/j.econlet.2022.110636
State	Published - Jul 2022
Externally published	Yes

Bibliographical note

Publisher Copyright:
© 2022 The Author(s)

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 16 Peace, Justice and Strong Institutions

Keywords

ESG
Human rights scores
Market exit
Russian invasion
Stock market reaction

ASJC Scopus subject areas

Finance
Economics and Econometrics

Access to Document

10.1016/j.econlet.2022.110636

Cite this

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

abstract = "We study firms{\textquoteright} 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 = "ESG, Human rights scores, Market exit, Russian invasion, Stock market reaction",

author = "Anup Basnet and Magnus Blomkvist and Emilios Galariotis",

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AB - 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.

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KW - Market exit

KW - Russian invasion

KW - Stock market reaction

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M3 - Article

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JO - Economics Letters

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ER -

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

Abstract

Bibliographical note

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this