John Richter

Drawing on contrasting theoretical perspectives of self-interest and utilitarian/ethical motivations, we examine the degree to which a company's pace of departure from Russia after the Ukraine invasion is driven by its exposure to the Russian market. Moreover, we investigate whether firm-level political and non-political risks influence the propensity to delay or expedite the exit/withdrawal process. Contrary to utilitarian expectations advocating for ethical exit decisions irrespective of exposure and risks, firms with higher Russian exposure were less likely to exit sooner, indicating a prioritization of business interests over ethical imperatives. This self-interest effect was further amplified by heightened political risks but attenuated by non-political risks. These findings remained consistent across various model specifications, with limited discernible variations based on firm characteristics such as ranking, COVID-19 exposure and risk, past idiosyncratic volatility, or family ownership and control. In addition, an examination of post-exit effects on profitability, risk, cost of capital, and liquidity revealed no statistically significant relationships. Our study highlights the prevalence of self-interest motivations over utilitarian principles, as firms with substantial Russian exposure prioritized safeguarding their business interests in the aftermath of the Ukraine invasion, even at the potential cost of ethical and social responsibility imperatives.

The National Center for Biomedical Ontology is a consortium that comprises leading informaticians, biologists, clinicians, and ontologists, funded by the National Institutes of Health (NIH) Roadmap, to develop innovative technology and methods that allow scientists to record, manage, and disseminate biomedical information and knowledge in machine-processable form. The goals of the Center are (1) to help unify the divergent and isolated efforts in ontology development by promoting high quality open-source, standards-based tools to create, manage, and use ontologies, (2) to create new software tools so that scientists can use ontologies to annotate and analyze biomedical data, (3) to provide a national resource for the ongoing evaluation, integration, and evolution of biomedical ontologies and associated tools and theories in the context of driving biomedical projects (DBPs), and (4) to disseminate the tools and resources of the Center and to identify, evaluate, and communicate best practices of ontology development to the biomedical community. Through the research activities within the Center, collaborations with the DBPs, and interactions with the biomedical community, our goal is to help scientists to work more effectively in the e-science paradigm, enhancing experiment design, experiment execution, data analysis, information synthesis, hypothesis generation and testing, and understand human disease.