This study investigates how multinational enterprises (MNEs) navigate sanctioned regimes using the Myanmar context following a 2021 military coup. We find that without formal institutional pressures, MNEs exit voluntarily due to informal stakeholder pressures. However, such exits are often considered irresponsible as MNEs transfer assets to unethical buyers or the sanctioned regime, thus potentially worsening the human rights conditions. We provide eight propositions that define a responsible exit from a sanctioned regime. This study offers insights into the multifaceted nature of strategic exits thus articulating ethical dilemmas faced when exiting from foreign markets amid sanctions-induced challenges, real or perceived. This study proposes a framework outlining the interplay between formal and informal institutional pressures placed on MNEs in sanctioned regimes, thus theoretically contributing to the institution-based view by highlighting legitimacy concerns and reputational management strategies employed by MNEs.

中文翻译：

---

我们应该留下还是应该退出？跨国公司在制裁制度下面临的困境


本研究以 2021 年军事政变后的缅甸为背景，调查跨国企业 (MNE) 如何应对受制裁的政权。我们发现，在没有正式的制度压力的情况下，跨国企业会因非正式的利益相关者压力而自愿退出。然而，这种退出通常被认为是不负责任的，因为跨国企业将资产转移给不道德的买家或受制裁的政权，从而可能恶化人权状况。我们提供了八项主张，定义了负责任地退出受制裁政权的方式。这项研究提供了对战略退出的多方面性质的见解，从而阐明了在制裁引发的实际或感知的挑战中退出外国市场时所面临的道德困境。本研究提出了一个框架，概述了受制裁制度下跨国企业所承受的正式和非正式制度压力之间的相互作用，从而通过强调跨国企业采用的合法性问题和声誉管理策略，从理论上促进了基于制度的观点。