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Regular version of the site
Contacts

119049 Moscow, Russia
11 Pokrovskiy boulevard, room S629

Phone:

+7 (495) 772-95-90*27447, *27947, *27190
+7 (495) 916-88-08 (Master’s Programme Corporate Finance)

- Email: df@hse.ru

finance@hse.ru 

Administration
Head of the School Irina Ivashkovskaya

Head of Corporate Finance Research Center, Dr., tenured professor

Manager Uliana Nepryakhina

+7 495-772-95-90 (add. 27190)

Senior Administrator Olesya Galyanina

+7 495-772-95-90 (add. 27447)

Administrator Tatyana Lipatova

+7 495-772-95-90 (add. 27947)

Administrator Irina Skobeleva

+7 495-772-95-90 (add. 27946)

Article
Resilience Index Development for Digital Ecosystems and Its Implementation: The Case of Russian Companies

Grishunin S., Ivashkovskaya I., Brendeleva N. et al.

Journal of Corporate Finance Research. 2025. Vol. 19. No. 1. P. 25-40.

Book chapter
Beyond Claims: CSR Reports, ESG Initiatives, and the Consequences of Impressions Management; Empirical Analysis

Badr I., Rawnaa Ibrahim, Hussainey K.

In bk.: Opportunities and Risks in AI for Business Development. Vol. 2: Opportunities and Risks in AI for Business Development. Prt. 636. Springer, 2025. P. 385-399.

Working paper
A New Approach to Identifying Political Connections: Evidence from the Russian Banking Sector

Kozlov N., Semenova M.

Financial Economics. WP HSE. HSE University, 2025. No. 1/FE/2025.

Research seminar at the Laboratory for Banking Studies (LaBS FES HSE)

Event ended

On Tuesday, February 11th, 2025, at 13:00 (Moscow time) at the LaBS research seminar Paulo Medeiros (University of Milano-Bicocca) will present his paper "Consumption Behavior, Savings Targets and Learning Dynamics". 

Abstract:

This paper introduces a novel model integrating a savings target mechanism with learning dynamics to overcome limitations in classical consumption-savings theories, such as the permanent income and life cycle hypotheses. By incorporating behavioral responses to economic changes, the model more accurately captures observed consumption patterns, especially in response to transitory income shocks and variations in the marginal propensity to consume (MPC). Governed by a quadratic hyperbolic decay fitness function, the learning mechanismensures adaptability and long-term predictive reliability. Numerical simulations demonstrate the alignment of the model with empirical data, showcasing significant MPC responses to income shocks while maintaining key results such as consumption smoothing and long-term convergence to a steady state.

Full paper is available here.

Zoom link: https://us06web.zoom.us/j/81752096986?pwd=56BCaAF0ahx9WzrsTH9xGtkPpDNVxB.1#success