The research says that a large number of companies based in the European Union and G-7 nations are still operating in Russia.
A research study on Western companies said to be still operating and investing in Russia has led to a heated war of words between a pair of academics in Switzerland and a Yale professor some 4,000 miles away.
The research from Professor Simon Evenett at the University of St. Gallen, just East of Zurich, and International Institute for Management Development Professor Niccolò Pisani in Lausanne, says a number of companies based in the European Union and Group of Seven nations are still operating in Russia.
In an email to MarketWatch Friday, Sonnenfeld and Tian questioned the integrity of the data set used in the University of St. Gallen and IMD study, which they said also contains a lot of misclassifications, and misrepresents some companies, treating Russian ones as though they were Western companies, and individuals as if they were Western companies.
The Yale professor says that the research around Russia companies is crucially important to the narrative around the conflict in Ukraine. “In particular, the business retreat is not seen as diplomatic vindictiveness of the West against a rising Russia but is seen by average Russians as a rejection of Russia as a rogue nation by independent business leaders in the private sector globally,” Sonnenfeld added.
But Yale’s Sonnenfeld slammed the list. “Their anchoring is, in fact, a massive database of largely Russian firms,” he told MarketWatch, via email Sunday, adding that “hundreds” of Western companies are missing from the list.
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