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Regular version of the site
International symposium

Intellectual capital: measurement, risks and reporting

Special event at 20th International Conference on Economic and Social Development conference organized by the National Research University Higher School of Economics (HSE)

The Symposium "Intellectual capital: measurement and reporting" is a special event at 20th International Conference on Economic and Social Development which is organized by the National Research University Higher School of Economics (HSE), Moscow. The symposium will be held on April 9-10, 2019 at our university in Moscow campus.  Extra information on the overall conference.

The HSE School of Finance, a leading Russian university department in the field of financial education and research, will host this special event, which seeks to unite researchers and practitioners, working on intellectual capital, integreated reporting and the role of boards  in disclosure and application of intellectual capital frameworks to increase company’s value 

We aim to discuss the progress on measurement and reporting intellectual assets and future research agenda in this multidiciplinary area. The leading experts from different national branches of WICI, International integrated reporting council, European and Russian universities are invited.

The Symposium working language is English. The event on April 9 will be held with simultaneous translation


The range of topics to be discussed at the symposium includes, but is not limited to:

  • Measurement, metrics and key indicators for the components of intellectual capital, the lessons learned from application in different industries;
  • Best practices for reporting intellectual capital. How to share the success of European experience? How to avoid the drawbacks?
  • Intellectual capital, business-models and financial risks. What should we expect in the nearest future?
  • Board of directors’ processes and policies in creating value thru intellectual capital;
  • How to move from integrated reporting to integrated thinking in the boards? What are European practices?
  • What is an impact of World Intellectual Capital Initiative (WICI) on the intellectual capital/ asset-based management? On investors?
  • How do financial analysts use intellectual capital reported data? What are the European practices?
  • What are the perspectives of incorporating intellectual capital KPIs into international standard for business reporting?

Key persons: 

Stefano Zambon

Stefano ZambonChairperson of Global WICI (the Network World Intellectual Capital Initiative), Professor of Business Economics at the Faculty of Economics of Ferrara University, Director of the International Research Centre on the Management of Public Administrations. member of the official Study Group of the Italian Association of Financial Analysts.  

Laura Girella 

Laura Girella PhD in Accounting and Business Economics with the University of Ferrara, Italy. She has been teaching financial reporting, management accounting and business economics at the Universities in Italy.Since 2014 she is staff member at the International Integrated Reporting Council (IIRC), where she covers the roles of “Region Lead for Italy” and “Coordinator of the leading practices and research programmes”. She has also collaborated in the development of the WICI Intangibles Reporting Framework (WIRF). 

Jérôme Julia

Senior Partner at Kea&Partners, Chairman of the Observatoire de l’Immatériel, Chairperson of WICI France.

Mehmet Huseyin Bilgin 
Mehmet Hysein BilginProfessor of economics at Istanbul Medeniyet University, Turkey and the chair of the International Economic Integration Division. He is also the chair of EAFPEB (Euro-Asia Forum in Politics, Economics and Business) and founder of Istanbul Economic Research Association in which he currently serves as the Chairman. He is also the founder of EBES (Eurasia Business and Economics Society) and currently serves as the Vice President.  

Ender Demir
Ender Demir
Associate Professor at the Istanbul Medeniyet University, Turkey. He   is the founder and conference coordinator of Eurasia Business and Economic Society (EBES). He serves as the associate editor at Eurasian Business Review (SSCI) and as a subject editor at Journal of Multinational Financial Management (SSCI).

School of Finance activities in the development of intellectual capital initiatives:

1)   School of Finance research initiatives.

  • School of Finance representatives actively participate in international conferences:



  • On April 9, 2015, HSE hosted a round table on the “Intellectual capital of Companies: Measurement and Reporting” at the XVI April Conference of the Higher School of Economics, organized jointly with the European Institute of Advanced Studies in Management (EIASM). The leading Russian and foreign scientists, representatives of the largest audit and consulting companies became the participants of the round table.

2)    Participation in non-financial reporting legislation elaboration.

In August 2017 an Interdepartmental Working Group was created by order of the Ministry of Economic Development of Russia to ensure the implementation of the Concept of the development of public non-financial reporting. School of Finance Assistant Professor S. A. Kuzubov became a member of this Group. The primary task was federal legislation “On public non-financial reporting” development. It is expected that in the autumn session the State Duma will be able to begin its consideration.

In the same time within the framework of the Interdepartmental Working Group, active process for list of key non-financial indicators creation for Russian Union of Industrialists and Entrepreneurs was (carried out). Our experts presented detailed proposals to increase the quality of information disclosure regarding the usage of intellectual assets of Russian organizations.

3)    Examination of integrated reports.

The School of Finance is an expert of the Russian regional network on integrated reporting in assessing the transparency of information disclosed in reports of 1000 Russian public and non-public companies which shares are traded on the Moscow Exchange. As part of the research conducted by the School of Finance students under the leadership of S. A. Kuzubov, a positive relationship between the disclosure rating compiled by the Russian regional network and the value of the company was found.

The School of Finance was an expert of the competition commission for assessing the quality of annual reports at the Annual Report Competition held by the Moscow Exchange. According to the results the leaders in the field of information disclosure in Russia were identified. The title of the best industry annual report was awarded to PJSC Alrosa, PJSC Gazprom Neft, PJSC Megafon, JSC SUEK, PJSC Aeroflot, PJSC Sberbank and PJSC Russian Networks.

   Key partners:
Association of Chartered Certified Accountants (ACCA)
ACCA underlines the importance of the integrated reporting and actively participates in promotion of its adoption. Being the next step in evolution of corporate reporting, integrated report aims to explain to different stakeholder groups how organisation creates value over time. ACCA suggests that integrated reporting provides a “holistic picture of company's activities and impacts across financial, environmental and social aspects, past and future”. Showing its commitment to the concept of integrated reporting, ACCA itself has adopted an integrated reporting approach.