{"title":"国家间战争动态与投资：俄罗斯-乌克兰战争的启示","authors":"Agnieszka Nowinska , Thomas Roslyng Olesen","doi":"10.1016/j.jbusres.2024.114911","DOIUrl":null,"url":null,"abstract":"<div><p>The Russia-Ukraine war beginning in February 2022 has led to renewed scholarly interest in how inter-state war affects managerial decisions. Focusing on the Russia-Ukraine case, we study how (1) perceived investment outlook and (2) an escalation in hostilities may impact the willingness of firms to continue investing in a country engaged in inter-state war. We find that firms are willing to continue investing—some regardless of the investment outlook and despite weak institutions--even as war escalates. We also find that willingness to continue investing is driven by a mix of profit-seeking behavior and altruistic motives. This study contributes to the literature on the drivers of corporate investment and how they are affected by the dynamics of inter-state war. Our findings can help managers make investment decisions that can benefit their firms and also benefit countries in times of war.</p></div>","PeriodicalId":15123,"journal":{"name":"Journal of Business Research","volume":"186 ","pages":"Article 114911"},"PeriodicalIF":10.5000,"publicationDate":"2024-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0148296324004156/pdfft?md5=01d5628314fb1b9ecc8dbfba322c45e0&pid=1-s2.0-S0148296324004156-main.pdf","citationCount":"0","resultStr":"{\"title\":\"Inter-state war dynamics and investment: Insights from the Russia- Ukraine war\",\"authors\":\"Agnieszka Nowinska , Thomas Roslyng Olesen\",\"doi\":\"10.1016/j.jbusres.2024.114911\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The Russia-Ukraine war beginning in February 2022 has led to renewed scholarly interest in how inter-state war affects managerial decisions. Focusing on the Russia-Ukraine case, we study how (1) perceived investment outlook and (2) an escalation in hostilities may impact the willingness of firms to continue investing in a country engaged in inter-state war. We find that firms are willing to continue investing—some regardless of the investment outlook and despite weak institutions--even as war escalates. We also find that willingness to continue investing is driven by a mix of profit-seeking behavior and altruistic motives. This study contributes to the literature on the drivers of corporate investment and how they are affected by the dynamics of inter-state war. Our findings can help managers make investment decisions that can benefit their firms and also benefit countries in times of war.</p></div>\",\"PeriodicalId\":15123,\"journal\":{\"name\":\"Journal of Business Research\",\"volume\":\"186 \",\"pages\":\"Article 114911\"},\"PeriodicalIF\":10.5000,\"publicationDate\":\"2024-09-16\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://www.sciencedirect.com/science/article/pii/S0148296324004156/pdfft?md5=01d5628314fb1b9ecc8dbfba322c45e0&pid=1-s2.0-S0148296324004156-main.pdf\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Business Research\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0148296324004156\",\"RegionNum\":1,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Business Research","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0148296324004156","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
Inter-state war dynamics and investment: Insights from the Russia- Ukraine war
The Russia-Ukraine war beginning in February 2022 has led to renewed scholarly interest in how inter-state war affects managerial decisions. Focusing on the Russia-Ukraine case, we study how (1) perceived investment outlook and (2) an escalation in hostilities may impact the willingness of firms to continue investing in a country engaged in inter-state war. We find that firms are willing to continue investing—some regardless of the investment outlook and despite weak institutions--even as war escalates. We also find that willingness to continue investing is driven by a mix of profit-seeking behavior and altruistic motives. This study contributes to the literature on the drivers of corporate investment and how they are affected by the dynamics of inter-state war. Our findings can help managers make investment decisions that can benefit their firms and also benefit countries in times of war.
期刊介绍：
The Journal of Business Research aims to publish research that is rigorous, relevant, and potentially impactful. It examines a wide variety of business decision contexts, processes, and activities, developing insights that are meaningful for theory, practice, and/or society at large. The research is intended to generate meaningful debates in academia and practice, that are thought provoking and have the potential to make a difference to conceptual thinking and/or practice. The Journal is published for a broad range of stakeholders, including scholars, researchers, executives, and policy makers. It aids the application of its research to practical situations and theoretical findings to the reality of the business world as well as to society. The Journal is abstracted and indexed in several databases, including Social Sciences Citation Index, ANBAR, Current Contents, Management Contents, Management Literature in Brief, PsycINFO, Information Service, RePEc, Academic Journal Guide, ABI/Inform, INSPEC, etc.
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