Tag Archives: russia

Goodwill Capital, Relationship-specific Capital, and Corporate Sanctions: An Empirical Study of the Russian Invasion of Ukraine 

By | June 30, 2022

 Whether environmental, social, and governance (ESG) policies enhance shareholder value has been the subject of debate for decades. There are three views on ESG investments. The first view argues that ESG activities enhance shareholder value because they are productive investments in “reputation” or “goodwill” capital (hereafter as “goodwill capital” view). ESG activities reduce transaction costs… Read More »

What Is Driving Western Firms to Leave Russia? 

By | June 28, 2022

In February 2022, Russia started a full-scale invasion of Ukraine, an event that would shake the global order. The war has already resulted in severe damages to Ukraine – thousands of killed civilians, more than 14 million of people displaced, and over $100 billion in infrastructure damage alone. Yet, the consequences of the war are… Read More »