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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.

Regular scientific seminar of the Department of Finance "Empirical corporate finance"

Event ended
Place and time: Shabolovka 26, room 3211, 16:00-18:10

Dear Colleagues!
February 1, 2016, 16:00, at the regular scientific seminar of the Department of Finance "Empirical corporate finance", PhD in Economics and Associate Professor Stolbov Michail will present a research, «Determinants of Sovereign Credit Risk: the Case of Russia»  followed by discussion.   

Speaker:

PhD in Economics and Associate Professor Stolbov Michail

Opponent: 

Candidate of Sciences (PhD) in Finance, Monetary Circulation and Credit Abramov Alexandre

Abstract:

 

«Determinants of Sovereign Credit Risk: the Case of Russia»


The paper analyses external and domestic determinants of Russian sovereign credit risk from January 2001 to May 2015. The analysis is conducted in a time series framework, involving the ARDL approach and VECM model. External risk factors outperform domestic fundamentals. The VIX index and oil prices are the most important factors, followed by the Fitch credit rating changes and TED spread. There is evidence for the piggybackeffect by S&P whose credit rating changes are driven by Fitch Ratings and Moody’s decisions. Among macroeconomic fundamentals only exchange rate dynamics and foreign reserves appear significant. The importance of the fundamentals further decreases when Granger (no) causality tests are conducted. The findings reveal a limited role of domestic macroeconomic policy in curbing Russian sovereign credit risk.
 

You are kindly welcome to participate!

 

Venue: Shabolovka, 26, room 3211 (Hall of the Academic Council)

Time: 16:00 - 18:10

Working language: English

Broadcast events:

http://92.242.59.143/live2/ApplePlayer.html for iPad, iPod, iPhone

http://92.242.59.143/live2/SmoothStreamingPlayer.html for computer and laptop

 

If you need a pass to the territory of the HSE please email df@hse.ru with note " February 1 seminar entry pass "