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Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-30648
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dc.contributor.authorHartwell, Christopher-
dc.contributor.authorZadorozhna, Olha-
dc.date.accessioned2024-05-16T09:39:38Z-
dc.date.available2024-05-16T09:39:38Z-
dc.date.issued2024-03-23-
dc.identifier.issn1075-4253de_CH
dc.identifier.issn1873-0620de_CH
dc.identifier.urihttps://digitalcollection.zhaw.ch/handle/11475/30648-
dc.description.abstractWhile a firm can minimize its own political risk, there are idiosyncratic and country-specific risks that are more difficult to control. In particular, home country governments pursue their own foreign policies independently of business, forging international linkages with other countries in pursuit of tangible benefits. But what happens when a government forges connectivity to a country which exhibits volatility or generates geopolitical shocks? This paper examines this question by studying the response of European stock markets to the ongoing (since 2014) Russian invasion of Ukraine. Using a variety of metrics to measure political connectivity, we distinguish between anti-Russian governments and governments which are more favorable to Russia during this period, combining this connectivity data with a new database of sanctions and war-related events. Applying asymmetric GARCH, panel estimations, and event study methods, we find that the uncertainty caused by Russian aggression in Ukraine has harmed financial markets in countries such as Serbia and Hungary, countries which have willingly forged connections with Russia during this time. Consistently, our empirical results show that, by tying a country to another one via political means, politicians also have tied the fortunes of their capital markets to the success or failure of this partner.de_CH
dc.language.isoende_CH
dc.publisherElsevierde_CH
dc.relation.ispartofJournal of International Managementde_CH
dc.rightshttps://creativecommons.org/licenses/by/4.0/de_CH
dc.subjectPolitical connectivityde_CH
dc.subjectSanctionde_CH
dc.subjectGeopoliticsde_CH
dc.subjectPolitical riskde_CH
dc.subjectRussian invasionde_CH
dc.subjectUkrainede_CH
dc.subject.ddc320: Politikde_CH
dc.subject.ddc658: Allgemeines Managementde_CH
dc.titleThe connections that bind : political connectivity in the face of geopolitical disruptionde_CH
dc.typeBeitrag in wissenschaftlicher Zeitschriftde_CH
dcterms.typeTextde_CH
zhaw.departementSchool of Management and Lawde_CH
zhaw.organisationalunitInternational Management Institute (IMI)de_CH
dc.identifier.doi10.1016/j.intman.2024.101141de_CH
dc.identifier.doi10.21256/zhaw-30648-
zhaw.funding.euNode_CH
zhaw.issue3de_CH
zhaw.originated.zhawYesde_CH
zhaw.pages.start101141de_CH
zhaw.publication.statuspublishedVersionde_CH
zhaw.volume30de_CH
zhaw.publication.reviewPeer review (Publikation)de_CH
zhaw.webfeedW: Spitzenpublikationde_CH
zhaw.author.additionalNode_CH
zhaw.display.portraitYesde_CH
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Hartwell, C., & Zadorozhna, O. (2024). The connections that bind : political connectivity in the face of geopolitical disruption. Journal of International Management, 30(3), 101141. https://doi.org/10.1016/j.intman.2024.101141
Hartwell, C. and Zadorozhna, O. (2024) ‘The connections that bind : political connectivity in the face of geopolitical disruption’, Journal of International Management, 30(3), p. 101141. Available at: https://doi.org/10.1016/j.intman.2024.101141.
C. Hartwell and O. Zadorozhna, “The connections that bind : political connectivity in the face of geopolitical disruption,” Journal of International Management, vol. 30, no. 3, p. 101141, Mar. 2024, doi: 10.1016/j.intman.2024.101141.
HARTWELL, Christopher und Olha ZADOROZHNA, 2024. The connections that bind : political connectivity in the face of geopolitical disruption. Journal of International Management. 23 März 2024. Bd. 30, Nr. 3, S. 101141. DOI 10.1016/j.intman.2024.101141
Hartwell, Christopher, and Olha Zadorozhna. 2024. “The Connections That Bind : Political Connectivity in the Face of Geopolitical Disruption.” Journal of International Management 30 (3): 101141. https://doi.org/10.1016/j.intman.2024.101141.
Hartwell, Christopher, and Olha Zadorozhna. “The Connections That Bind : Political Connectivity in the Face of Geopolitical Disruption.” Journal of International Management, vol. 30, no. 3, Mar. 2024, p. 101141, https://doi.org/10.1016/j.intman.2024.101141.


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