Sailing through the storm – performance of Russian manufacturing subsidiaries of multinational corporations in the first year of the COVID-19 pandemic

IF 2.2 3区经济学 Q2 ECONOMICS

Post-Communist Economies Pub Date : 2022-08-12 DOI:10.1080/14631377.2022.2104503

I. Gurkov, N. Filinov

引用次数: 1

Abstract

ABSTRACT The aim of this study is to depict the performance of Russian manufacturing subsidiaries of multinational corporations during the first year of the COVID-19 pandemic. Using a unique handcrafted database of financial reports from 259 subsidiaries for 2019 and 2020, we retraced three indicators of business robustness: the dynamics of revenues, positive profitability, and the level of financial solvency. Most of the studied subsidiaries (85%) were able to withstand the crisis and maintain satisfactory financial solvency. Revenues decreased in 2020 to 40% of the studied subsidiaries, and the share of loss-making subsidiaries reached 31%. However, more than 40% of the studied subsidiaries achieved both an increase in revenues and positive profitability of sales in 2020. In this respect we may assess the level of ‘ownership advantage’ of multinational corporations regarding assisting their subsidiaries to achieve different elements of business robustness during the pandemic.

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在风暴中航行——跨国公司俄罗斯制造子公司在新冠肺炎大流行第一年的表现

本研究的目的是描述跨国公司的俄罗斯制造子公司在2019冠状病毒病大流行的第一年的表现。利用2019年和2020年259家子公司财务报告的独特手工数据库，我们追溯了业务稳健性的三个指标:收入动态、正盈利能力和财务偿付能力水平。大多数被研究的子公司(85%)能够抵御危机并保持令人满意的财务偿付能力。到2020年，营收下降到所研究子公司的40%，亏损子公司的份额达到31%。然而，超过40%的被研究子公司在2020年实现了收入增长和正的销售盈利能力。在这方面，我们可以评估跨国公司在协助其子公司在大流行病期间实现业务稳健性的不同要素方面的“所有权优势”水平。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Post-Communist Economies ECONOMICS-

CiteScore

4.90

自引率

18.20%

发文量

期刊介绍： Post-Communist Economies publishes key research and policy articles in the analysis of post-communist economies. The basic transformation in the past two decades through stabilisation, liberalisation and privatisation has been completed in virtually all of the former communist countries, but despite the dramatic changes that have taken place, the post-communist economies still form a clearly identifiable group, distinguished by the impact of the years of communist rule. Post-communist economies still present distinctive problems that make them a particular focus of research.