School of Finance Faculty of Economic Sciences HSE University
119049 Moscow, Russia
11 Pokrovsky Bulvar, S629
School of Finance: df@hse.ru +7 (495) 772-95-90 *27447, *27190, *27947
Master’s Programmes: Corporate Finance, Master of Business Analytics
Doctor of Sciences in Finance, Tenured Professor, Head of the Corporate Finance Center
The HSE School of Finance is the leading Russian competence center in the field of corporate finance, business valuation, banking, stock market, risk management and insurance, accounting and audit.
HSE is the first Russian university in the global ranking "QS - World University Rankings by subject", 2022 in the subject area of Accounting and Finance. Moreover, the university is the 1-st in the rating "THE World University Rankings by subject" in the subject area of Business & Management Studies, 2022
Edited by: A. M. Karminsky, Mikhail Stolbov.
Palgrave Macmillan, 2024.
Fedorova E., Ledyaeva S., Stepanov V.
International Review of Economics and Finance. 2026.
Dobrynina Polina, Grishunin S.
In bk.: The 12th International Conference on Information Technology and Quantitative Management (ITQM 2025). Netherlands: ScienceDirect, 2025. P. 166-174.
Dobrynskaya V. V., Tomtosov A., Речмедина С.
SERIES: FINANCIAL ECONOMICS. WP BRP 60/FE/2017. НИУ ВШЭ, 2025

On November 26, the School of Finance held the 4th International Workshop "Systemic Risk in the Financial Sector", organized by professors Alexander Karminsky, Irina Ivashkovskaya and Mikhail Stolbov. Professor Sergey Pekarski, the Dean of the Faculty of Economic Sciences, started the meeting with the opening remarks.
The "Systemic Risk in the Financial Sector" workshop brought together researchers and practitioners, working on the issues related to financial stability of the capital market and the banking system. Researchers from European and top Russian universities as well as the representatives of the regulator, Central Bank of Russia, presented and discussed their papers and acted as moderators.
The workshop participants discussed the following topics:
- systemic risk measurement;
- interconnectedness of financial institutions;
- macroprudential policy toolkit and its efficiency;
- interaction between macroprudential and monetary policies;
- credit cycles and bubbles;
- COVID-19 impact on systemic risks.
The key speaker of the workshop Sylvain Benoit – associate professor from Université Paris-Dauphine, PSL Research University, presented his report "Systemic Risk: An Overview". Among other speakers, there were professors from leading universities in Austria, Germany and Italy, as well as from leading Russian universities: MSU, MGIMO, NRU HSE, TSU, UTMN, RANEPA and FU.
All the workshop participants will be able to publish their papers in a series of monographs “Advanced Studies in Emerging Markets Finance” for Springer.