Russia's emerging multinational companies amidst the global economic crisis
Sergey Filippov
#2011-003
Internationalisation of Russian companies has become a distinctive
phenomenon and has drawn attention of scholars, practitioners and
policy-makers alike. Newly emerged Russian companies have extended their
presence from the nearest former Soviet republics to the advanced
markets of Western Europe and Northern America. As most companies in the
world, in 2008-2010, Russian multinationals faced the global economic
meltdown. Despite the broad interest in this topic, its scholarly
examination remains limited so far. This is precisely the objective of
the paper. It analyses the impact, effects and consequences of the
global economic crisis on international activities and
internationalisation strategies of emerging Russian multinationals. The
study combines quantitative and qualitative methods. Available secondary
data from international financial and business databases and reviews is
used. To broaden the insight gained through these quantitative analyses,
the paper also present qualitative data - several practical examples of
Russian multinationals' responses to the crisis. Further, the interplay
between foreign expansion and the Russian government's policies is
explored. A number of conclusions are derived.
Key words: global crisis, outward foreign direct investment,
acquisitions, strategy, emerging multinationals, Russia, corporate
governance
JEL: F01, F21, F23, G01, G34