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Regular version of the site

119049 Moscow, Russia
11 Pokrovskiy boulevard, room S629


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

- Email: df@hse.ru


Head of the School Irina Ivashkovskaya

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

Investment in ESG Projects and Corporate Performance of Multinational Companies

Cherkasova V. A., Nenuzhenko I.

Journal of Economic Integration. 2022. Vol. 37. No. 1. P. 54-92.

Bankruptcy factors at different stages of the lifecycle for Russian companies

Zelenkov Y., Fedorova E.

Electronic Journal of Applied Statistical Analysis. 2022. Vol. 15. No. 1. P. 187-210.

Working paper
Do Non-Interest Income Activities Matter For Banking Sector Efficiency? A Net Interest Margin Perspective

Kolade S. A., Semenova M.

Financial Economics. FE. Высшая школа экономики, 2022. No. WP BRP 87/FE/2022.

Book chapter
Validation of the effectiveness of the bank retail portfolio risk management procedure

Pomazanov M. V.

In bk.: The 8th International Conference on Information Technology and Quantitative Management (ITQM 2020 & 2021): Developing Global Digital Economy after COVID-19. Vol. 199: The 8th International Conference on Information Technology and Quantitative Management (ITQM 2020 & 2021): Developing Global Digital Economy after COVID-19. Manchester: Elsevier, 2022. P. 798-805.

CEO Power and Risk-taking: Intermediate Role of Personality Traits

Korablev D., Poduhovich D.

Journal of Corporate Finance Research. 2022. Vol. 16. No. 1. P. 136-145.

Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization

Olkhovik V., Lyutova O. I., Juchnevicius E.

Научно-исследовательский финансовый институт. Финансовый журнал. 2022. Vol. 14. No. 2. P. 73-90.

Special issue with the 2019 Future Directions in Accounting and Finance Education Conference, Moscow, Russia

Churyk N. T., Anna Vysotskaya, Kolk B. v.

Journal of Accounting Education. 2022. Vol. 58.

Тенденции развития интернета: от цифровых возможностей к цифровой реальности

Абдрахманова Г. И., Васильковский С. А., Вишневский К. О. и др.

М.: Национальный исследовательский университет "Высшая школа экономики", 2022.

Разработка рейтинга проектных рисков для телекоммуникационной компании

Гришунин С. В., Сулоева С. Б., Пищалкина И. И.

Организатор производства. 2022. Т. 30. № 1. С. 60-72.

Разработка механизма гибкого управления рисками в сфере телекоммуникаций

Гришунин С. В., Сулоева С. Б., Пищалкина И. И.

Экономический анализ: теория и практика. 2022. Т. 21. № 3. С. 478-496.

Development of the horizon index to evaluate long-termism of Russian non-financial companies

S. Grishunin, E. Naumova, N. Lukshina et al.

Russian Management Journal. 2021. Vol. 19. No. 4. P. 475-493.

Book chapter
Analysing the Determinants of Insolvency and Developing the Rating System for Russian Insurance Companies

Grishunin S., Bukreeva Alesya, Alyona A.

In bk.: The 8th International Conference on Information Technology and Quantitative Management (ITQM 2020 & 2021): Developing Global Digital Economy after COVID-19. Vol. 199: The 8th International Conference on Information Technology and Quantitative Management (ITQM 2020 & 2021): Developing Global Digital Economy after COVID-19. Manchester: Elsevier, 2022. P. 190-197.

International Conference “Future Directions in Accounting and Finance Education”, 27-28 May 2019, Moscow, Russia

Edited by: А. Б. Высотская, B. v. Kolk.

Vol. 58. Elsevier, 2022.

Prudential policies and systemic risk: The role of interconnections

Karamysheva M., Seregina E.

Journal of International Money and Finance. 2022. Vol. 127.

How do fiscal adjustments work? An empirical investigation
In press

Karamysheva M.

Journal of Economic Dynamics and Control. 2022. Vol. 137.

Do we reject restrictions identifying fiscal shocks? identification based on non-Gaussian innovations

Karamysheva M., Skrobotov A.

Journal of Economic Dynamics and Control. 2022. Vol. 138.


Тихомиров Д. В.

Известия Санкт-Петербургского государственного экономического университета. 2022. № 4. С. 144-155.

Book chapter
Students’ Survey: Propensity to Innovate

Evdokimova M., Stepanova A. N.

In bk.: 38th EBES Conference - Program and Abstract Book. Istanbul: EBES, 2022. P. 39.

Prove them wrong: Do professional athletes perform better when facing their former clubs?

Assanskiy A., Shaposhnikov D., Tylkin I. et al.

Journal of Behavioral and Experimental Economics. 2022. Vol. 98.

Институциональные инвесторы, инвестиционный горизонт и корпоративное управление

Повх К. С., Кокорева М. С., Степанова А. Н.

Экономический журнал Высшей школы экономики. 2022. Т. 26. № 1. С. 9-36.

Credit scoring methods: latest trends and points to consider

Anton Markov, Zinaida Seleznyova, Victor Lapshin.

Journal of Finance and Data Science. 2022. Vol. 8. P. 180-201.

PhD Workshop

VI annual PhD workshop "Financial Markets and Corporate Strategies: Comparative Studies" was held on 13th April,organized by School of Financewithin the 20th Annual April International Conference on Economic and Social Development.
Chairs of the Workshop: Professor Irina Ivashkovskaya and Professor Alexander Karminsky, School of Finance.
Key note speaker: Elena Beccalli, Professor of Banking and Dean, School of Banking, Finance and Insurance (Università Cattolica del Sacro Cuore, Milan).
Elena presented her research “Economies of scale and scope in EU banking”, where she finds answers to following questions: “Are ever larger banks able to achieve the benefits of economies of scale? Are ever diversified banks able to achieve the benefits of economies of scope? Are there economies of scope in the European banking industry?” The presentation caused an animated discussion, and as a result directions of research development were found.
Then PhD students presented their research on topics from various field of finance. Among discussed questions were: consequences of monetary policy in emerging markets, effects of innovation funding programs in Europe, impact of ownership structure on startups performance in Russia, and many others. Participants received detailed feedback that will help them improve their papers.
We would like to thank our participants for bright research, discussants – for remarkable work on this eventful day, and guests – for attention and interest to the Workshop.
The main objective of the workshop is to develop academic networks and stimulate exchange between young researchers. This year 12 PhD students of the following universities were participating: Financial University under the Government of the Russian Federation (Russia), NRU Higher School of Economics (Russia), St Petersburg University (Russia), Ural Federal University (Russia), NRU South Ural State University (Russia), University of Tyumen (Russia), Ghent University (Belgium), University of Massachusetts (USA).
The best papers will be published in academic journal ‘Journal of Corporate Finance Research’. The journal is included in Web of Science Russian Science Citation Index (RSCI) and is one of the best academic journals of Russia.
«This workshop is a great opportunity to present your ongoing work or to share your research idea, to get valuable feedback and to meet international colleagues. Thanks for organizing the workshop and inviting a brilliant keynote speaker. I hope this workshop will remain a regular event within the Annual Conference»
«The atmosphere of the seminar was friendly and inspiring. The participants were ready to share ideas and suggestions with each other. I received very valuable critical comments as well as ideas for further development of the PhD thesis. Moreover, I was pleasantly surprised by high-level organisational measures and support provided by the Higher School of Economicsto participants from other cities and countries. I listened with great interest to the report of Elena Beccalli. In the light of this, I am very pleased that the Higher School of Economics is actively promoting the development of international cooperation in the scientific field. Many thanks to the academic staff of HSE for the invitation to participate in the event, their attention and valuable comments. »
«I would like to give thanks for the excellent opportunity to participate in PhD workshop at Higher School of Economics. I am very grateful for the invitation.
I was very satisfied with results of PhD seminar, because I got useful comments and new questions to my research. The committee gave constructive criticism that helped to address some contradictory issues in my research. I would also like to note the benefits of listening the papers' presentations of other speakers, because the level of research was high and I was very interested in new models and approaches used. The valuable part of seminar was combining participants from international and Russian universities.
I was very glad to present my work in international level workshop and to get useful feedback on my work. I believe this event is a unique opportunity in Russia of such type for PhD students, so my only wish is to keep it on year-by-year basis. Probably, representatives from different academic journals would be interested to participate in PhD workshop too»
«A great Workshop, where interesting research of PhD students from many Russian universities was presented. I got a unique experience of presenting to colleagues and senior professors. Thank you for the opportunity»
«The PhD workshop is a very good conference for students to exchange the newest research results in their area»
«The Workshop is a success. Thankyou, HSE»