Literature Review and Current Analysis on Effects of Geopolitics on Firms’ Internationalization—Based on Ukraine War

Abstract

Globalization has been advanced gradually in recent days, encouraging firms to develop internationalization. However, the firms' internationalization will be significantly influenced by geopolitical events in internal and external aspects. The process of the influence is related to many factors, which can be regarded as the boundary conditions, leading to different impacts. In this article, asset types, business model, digital economy and political conflicts are involved as outstanding moderators. On February 24th, 2022, Ukraine war begun. It has changed existing geopolitical situation, and has been seen as one of the motivators of firms' withdrawal from theRussian market. In this event, political conflicts and digital economy are the most typical and significant boundary conditions to moderate the impact process and final results.