JOP — 2026-03-13
Original Rethinking Reputation: When Fighting to Demonstrate Resolve Backfires
Joshua A. Schwartz
Abstract
（原文未提供摘要）
中文 重新审视声誉：当为展示决心而成的斗争反噬自身
Joshua A. Schwartz
摘要
原文未提供摘要
关键词
声誉、决心、危机谈判、威慑、观众成本
DOI: 10.1086/741344
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APSR — pp. 1-18 2026-03-11 Original Exiting Russia
RACHEL L. WELLHAUSEN, BOLIANG ZHU
Abstract
As of February 24, 2022, over forty thousand foreign-invested firms operated in Russia, a host state that initiated an interstate war—an exceptional shock in the modern era of economic globalization. Using company registration data, we document that after 18 months of war, 33.3% of foreign-invested firms had changed ownership or become inactive. We conceptualize exit as a politicized transaction in which sellers and buyers face external pressures and bargain over terms. Concerning pressures to sell, those in consumer-oriented industries were more likely to exit. On bargaining, we find Russian state interests consequential: foreign-invested firms already under Russian managerial control were more likely to exit, whereas those in Russian strategic industries were not. Despite extraordinary economic sanctions to isolate Russia, and surging social backlash against doing business in Russia, results imply that multinationals are at best unstable tools of economic statecraft, even in the midst of war.
JCC — pp. 1-18 2026-02-27 Original From Pricing Power to Autonomy: The Geopolitics of RMB-Denominated Oil Futures Benchmark
Alexandru-Stefan Goghie
Abstract
This article examines China’s introduction of RMB-denominated crude oil futures as an instrument of financial statecraft aimed at reshaping the geopolitical foundations of global oil pricing. While Brent and WTI dominate price discovery through their deep embedding in dollar-based financial infrastructures, China seeks to cultivate pricing power by relocating benchmark formation to domestic institutions and an RMB-denominated contract. The paper argues that this initiative is not merely a market innovation, but a strategic effort to reduce structural dependence on USD-centered benchmarks, mitigate exposure to US financial jurisdiction, and enhance autonomy amid intensifying geopolitical rivalry. By analyzing the architecture, evolution, and international uptake of the Shanghai INE contract, the article shows that pricing power constitutes a crucial and underexplored dimension of contemporary Chinese statecraft.