Corporate activism during the 2022 Russian invasion of Ukraine

Orosz–ukrán háború: vállalati reakciók és azok jogi keretei • Russia–Ukraine War: Corporate Reactions and Their Legal Frameworks

“…Azonban a kivonulás időzítése kritikusnak mondható a stratégiai döntés elemzésének tekintetében. A korai kivonulók esetében a döntés meghozatalakor kevesebb információ állt rendelkezésre, magasabb fokú volt a bizonytalanság (Glambosky-Peterburgsky, 2022). A késői kivonulókat vizsgálva pedig megjelenik a vállalati érintettek által generált nyomás is mint a döntést esetlegesen befolyásoló szempont.…”

The Side Effect of Political Standing: Corporate Activism and Its Impact on Stock Returns

“…In summary, previous empirical literature has focused on the relationship between corporate activism and purchase intention (Corcoran et al, 2016;Krebel Chang, 2017;Overton et al, 2021;Robinson et al, 2012), changes in consumer attitudes (Atanga et al, 2022;Parcha & Kingsley Westerman, 2020), the impact on brand equity (Korschun et al, 2019;Vredenburg et al, 2020), reputation (Den-Hond et al, 2014), or both (Villagra, Clemente-Mediavilla, et al, 2021), as well as understanding the antecedents of the concept (institutional and corporate credibility and authenticity) from the consumer's point of view (Villagra et al, 2022). Moreover, the relationship between corporate activism and financial performance is receiving research attention (Bhagwat et al, 2020;Dodd, 2018;Dodd & Supa, 2014;Glambosky & Peterburgsky, 2022;Villagra, Monfort, & Méndez-Suárez, 2021;Weinzimmer & Esken, 2016), which is closely related to the principal objective of this research.…”

“…Other authors have gone a step further and reported a link between corporate activism and financial results, finding abnormal returns in different contexts (Bhagwat et al, 2020;Dodd, 2018;Dodd & Supa, 2014, 2015Villagra, Monfort, & Méndez-Suárez, 2021;Weinzimmer & Esken, 2016). Previous studies do not agree on the results of this relationship and the aforementioned articles have found positive investor reactions to corporate activism actions (Haq et al, 2022;Weinzimmer & Esken, 2016), negative investor reactions (Bedendo & Siming, 2021;Bhagwat et al, 2020;Glambosky & Peterburgsky, 2022;Villagra, Monfort, & Méndez-Suárez, 2021), and non-significant investor reactions (Villagra, Monfort, & Méndez-Suárez, 2021).…”

Firm reaction to geopolitical crises: Evidence from the Russia‐Ukraine conflict

“…Rigobon and Sack (2005) find that the risk of war significantly influences the volatility of stock prices. While Sonnenfeld et al (2022) note that it is beneficial to leave Russia, Glambosky and Peterburgsky (2022) find that firms divesting from Russia face negative abnormal returns.…”