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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 Cham, 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.

The Most Cited 2018`S Articles on Corporate Finance

When shops start selling Christmas trees, it`s a right time to strike a balance, so today we`ll observe some of the most cited 2018`s articles on corporate finance from the Google scholar.

283 citations. Intangibles

Lev, Baruch Itamar, Intangibles (July 23, 2018) 
In this work author empathize the role of intangibles in modern companies and the harm that accounting standards-setters bring to investors and economies. There`re also proposed new ways of intangible asset consideration and research.

53 citations. Do long-term investors improve corporate decision making?

Jarrad Harford, Ambrus Kecskés, Sattar Mansi. (2018) Do long-term investors improve corporate decision making? Journal of Corporate Finance. Elsevier
Authors study the effect of investor horizons on a comprehensive set of corporate decisions and find that long-term investors strengthen governance and restrain managerial misbehaviors such as earnings management and financial fraud.

42 citations. Measuring Firm Size in Empirical Corporate Finance

Chongyu Dang, Zhichuan (Frank) Li, Chen Yang, Measuring Firm Size in Empirical Corporate Finance, Journal of Banking and Finance (2017), doi: 10.1016/j.jbankfin.2017.09.006
This paper fills this hole by providing empirical evidence for a “measurement effect” in the “size effect”, examining the influences of employing different proxies of firm size in 20 prominent areas in empirical corporate finance research. Results suggests that some measures are more relevant than others in different situations and different proxies capture different aspects of “firm size”, and thus have different implications.

26 citations. Inflation in Brusov–Filatova–Orekhova Theory and in Its Perpetuity Limit Modigliani–Miller Theory

Brusov P., Filatova T., Orekhova N., Eskindarov M. (2018) Inflation in Brusov–Filatova–Orekhova Theory and in Its Perpetuity Limit Modigliani–Miller Theory. In: Modern Corporate Finance, Investments, Taxation and Ratings. Springer, Cham, DOI
In this paper, the influence of inflation on capital cost and capitalization of the company is investigated. By direct incorporation of inflation into the theories concerning capital costs, it is shown for the first time that inflation not only increases the equity cost and the weighted average cost of capital, but also it changes their dependence on leverage.