法国预测与国际信息中心-跨国公司在这里和那里_附属公司对全球危机的反应（英）-2025.7_45页_1mb

Multinational enterprises (MNEs) adapted their global operations post-COVID-19 by reallocating resources and adjusting employment across domestic and foreign affiliates. Using a difference-in-differences approach with firm-level data from 29 countries, the study found MNEs outperformed domestic firms, primarily due to stronger growth in domestic affiliates. Home bias in employment adjustments was evident, with foreign affiliates experiencing weaker performance. This pattern persisted through geopolitical events like the Ukraine invasion in 2022, suggesting a strategic shift toward domestic operations, possibly driven by reshoring trends.

Key findings indicate that MNEs, especially those with concentrated geographic footprints, increased employment in home countries. Factors such as regional proximity to headquarters or MNE characteristics did not fully explain the home bias. These results highlight structural changes in MNE strategies during and after the pandemic, underscoring policy implications for labor market resilience and internationalization strategies.