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Effect of Multinational Firms’ Exit Strategies Following Economic Sanctions

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Following Russia’s invasion of Ukraine in February 2022, countries introduced economic sanctions against Russia, calling for multinational firms to comply with these economic sanctions. In response, many firms, including Carlsberg, which exited Russia completely; and Arla, which suspended all its operations in Russia, used different market exit strategies. In this research, we will investigate how consumers respond to a multinational firm that uses different market exit strategies following economic sanctions against a target country. The findings will provide a novel theoretical account of the effect of multinational firms’ foreign market exit strategies following economic sanctions and will suggest actionable managerial guidance.