TY - JOUR
T1 - Foreign-owned companies in countries with an unstable economy
T2 - The case of the automotive industry in Russia
AU - Spitsin, Vladislav
AU - Mikhalchuk, Alexander
AU - Spitsina, Lubov
AU - Vukovic, Darko B.
N1 - Funding Information:
The research is conducted with financial support from Russian Foundation for Basic Research (RFBR) in the frames of scientific and research project of RFBR named “Dynamic modelling of Russian, foreign and joint industrial enterprises development in a situation of economic sanctions,” project №. 17-06-00584(a). The study of regional centres of car production and innovation activity was carried out with the support of Ministry of Education, Science and Technological Development, Republic of Serbia (Grant III 47007).
Publisher Copyright:
© Foundation of International Studies, 2018 and CSR.
Copyright:
Copyright 2021 Elsevier B.V., All rights reserved.
PY - 2018
Y1 - 2018
N2 - This paper analyses the development patterns for the foreign-owned enterprises in countries with an unstable economy. The object of research refers on enterprises in foreign (FO), joint (JO) and Russian (RO) ownership producing cars and auto components in the territory of the Russian Federation. The research is based on the application of method of regression analysis of panel data for analysing the financial performance of the enterprises. We have identified that foreign-owned enterprises react more sharply on crises and changes in exchange rates. The depreciation of the ruble has a particularly negative impact on the profitability of foreign-owned enterprises. The crisis periods have a strong negative impact on the revenue of enterprises by all forms of ownership.
AB - This paper analyses the development patterns for the foreign-owned enterprises in countries with an unstable economy. The object of research refers on enterprises in foreign (FO), joint (JO) and Russian (RO) ownership producing cars and auto components in the territory of the Russian Federation. The research is based on the application of method of regression analysis of panel data for analysing the financial performance of the enterprises. We have identified that foreign-owned enterprises react more sharply on crises and changes in exchange rates. The depreciation of the ruble has a particularly negative impact on the profitability of foreign-owned enterprises. The crisis periods have a strong negative impact on the revenue of enterprises by all forms of ownership.
KW - Automotive industry
KW - Economic sanctions
KW - Foreign and joint ownership
KW - Foreign direct investment (FDI)
KW - Russia
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U2 - 10.14254/2071-8330.2018/11-3/5
DO - 10.14254/2071-8330.2018/11-3/5
M3 - Article
AN - SCOPUS:85055521044
VL - 11
SP - 57
EP - 69
JO - Journal of International Studies
JF - Journal of International Studies
SN - 2071-8330
IS - 3
ER -