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Контакты

Школа финансов ВШЭ

119049 Москва, Покровский бульвар, 11,
офис S629.

Телефоны:
+7 (495) 772-95-90*27447, *27190, *27947 (по общим вопросам Школы финансов)
+7 (495) 621-91-92 (по вопросам Бизнес-образования)
+7 (495) 916-88-08 (Магистерская программа "Корпоративные финансы")

E-mail:

df@hse.ru (по общим вопросам Школы финансов),
finance@hse.ru (по вопросам Бизнес-образования)

Руководство
Руководитель Ивашковская Ирина Васильевна

ординарный профессор НИУ ВШЭ, доктор экономических наук, заслуженный работник высшей школы РФ

Школа финансов: Менеджер Непряхина Ульяна Викторовна

+7 495 772 95 90 (доб. 27190)

Школа финансов: Администратор Липатова Татьяна Геннадьевна

+7495-772-95-90 (доб. 27947)

Мероприятия
Статья
The upside-down world of value capture. Do companies in technology sector follow the principles of profitable growth?

V. S. Vinogradova.

The Journal of the New Economic Association. 2024. Vol. 62. No. 1. P. 171-195.

Статья
International capital markets with interdependent preferences: Theory and empirical evidence
В печати

Dergunov I., Curatola G.

Journal of Economic Behavior and Organization. 2023. Vol. 212. P. 403-421.

Статья
Patterns of value creation in strategic acquisitions for growth

Vinogradova V.

Asian Academy of Management Journal of Accounting and Finance. 2023. Vol. 19. No. 2. P. 127-160.

Статья
Сравнение подходов к оценке риска со стороны центрального контрагента

Потапов А. И., Курбангалеев М. З.

Экономический журнал Высшей школы экономики. 2023. Т. 27. № 2. С. 196-219.

Статья
Developing a Scoring Credit Model Based on the Methodology of International Credit Rating Agencies

Alyona Astakhova, Sergei Grishunin, Gennadii Pomortsev.

Journal of Corporate Finance Research. 2023. Vol. 17. No. 1. P. 5-16.

Статья
The New Strategy of High-Tech Companies – Hidden Sources of Growth

Kokoreva M. S., Stepanova A. N., Povkh K.

Foresight and STI Governance. 2023. Vol. 17. No. 1. P. 18-32.

Статья
Нефинансовые факторы эффективности фармацевтических компаний в России

Макушина Е. Ю., Малофеева Т. Н., Козиорова О. И. и др.

Вестник Московского университета. Серия 6: Экономика. 2023. № 1. С. 135-163.

Статья
Time to Extend Credit? Bank Credit Lines During the COVID-19 Pandemic in Russia

Semenova M., Popova P.

Russian Journal of Money and Finance. 2023. Vol. 82. No. 2. P. 106-119.

Статья
Do Smart Depositors Avoid Inefficient Bank Runs? An Experimental Study

Semenova M.

Emerging Markets Finance and Trade. 2023. Vol. 59. No. 8. P. 2710-2726.

Статья
Cryptocurrency Momentum and Reversal

Victoria Dobrynskaya.

Journal of Alternative Investments. 2023. Vol. 26. No. 1. P. 65-76.

Статья
Cryptocurrencies Meet Equities: Risk Factors and Asset-pricing Relationships

Victoria Dobrynskaya, Dubrovskiy M.

International Finance Review. 2023. Vol. 22. P. 95-111.

НИС «Эмпирические исследования корпоративных финансов»

Мероприятие завершено

13 декабря 2022 (вторник) в 16:00 онлайн состоится научно-исследовательский семинар«Эмпирические исследования корпоративных финансов».
В рамках семинара предлагается обсудить 2 доклада:

1. Попов Константин Александрович, стажер-исследователь научно-учебной лаборатории корпоративных финансов, аспирант Школы финансов.

Тема: «Board Characteristics and ESG Performance: CEO's Moderating Role»

 

Abstract: In recent years have been widely investigating the effects of corporate governance characteristics on corporate performance. As the role of non-financial factors in the process of creating company’s value, many researchers focus their attention on the impact of Board of Directors on corporate Environmental, Social, and Governance (ESG) performance and disclosure. While most of researchers include Board size, independence and diversity in their models, there is a growing number of studies focused on the effects of Board human and social capital features on ESG performance. Many studies also consider CEO characteristics, mainly CEO power, as a moderating factor for Board’s impact on corporate performance.

Despite considerable block of researches on the issue, there are several gaps in academic literature. Firstly, although many researchers take into account existence of specialized Board sustainability committees, few of them consider particular characteristics of human capital concentrated in such committees. Secondly, existing studies rarely investigate the effects of strategy and audit committees’ composition on corporate ESG and financial performance. Thirdly, while there are studies considering CEO power as a moderating factor for Board impact on corporate performance, the issue of possible moderating effects of CEO human capital (i.e. education and professional experience) has not been sufficiently investigated.

We aim to fill these gaps, basing on the analysis of the sample of largest Russian public non-financial companies during the period from 2014 to 2020. We focus on the composition of Board committees, considering their “general” characteristics (size and independence), demographic (gander and national diversity) and human capital (education and professional experience) diversity. We also add in our research moderating effects of CEO power, measured by CEO tenure and role in the Board, and CEO human capital.

We believe that our research is relevant from both academic and practical perspectives. We fill several gaps in academic literature. Moreover, we offer new indices to evaluate Board and CEO power and human capital. As from practical point of view, we offer new approach to evaluating corporate governance composition and its effects for corporate sustainability and value creation.

 

2.Симонович Милица – аспирант Школы финансов.

Тема: « Board Structure and Disclosure of Intellectual Capital- An Empirical Study in Knowledge-Based Economies»

Abstract: The aim of this paper is to determine how the composition of the board of directors affects the disclosure of intellectual capital, human capital, structural capital and relational capital.

Bearing in mind that the share of intellectual capital is most pronounced in knowledge-based companies, for the purposes of this research, 40 listed companies from the IT industry, biotechnology and communication technologies were taken into account. The time framework is from 2015 to 2019. During this research, multiple linear regressions based on panel data were utilized.

The results show there is insignificant negative influence board average age, board meetings and CEO duality on intellectual capital disclosure. On the other side, there is positive association between indenpendence of board directors and disclosure information about intellectual capital. Moreover, the obtained results show that random effect is better (Hausman test) and there is no statisticly significant multicolinearity in any type of multiple regression.  

Future research in this area should take into consideration the influence of other elements of corporate governance on the disclosure of information about intellectual capital.

 

Ссылка Zoom:https://zoom.us/j/95590574043?pwd=SThNQyttN3ZuZ3VPYkRibHFYL1Yydz09

Идентификатор конференции: 955 9057 4043

Код доступа:095849