Research & Expertise – News

Materials from the annual conference "ESG Corporate Dynamics: the Challenges for Emerging Capital Markets" organized by the School of Finance, Faculty of Economic Sciences, HSE University, were used in preparing this issue.

The conference programme covers five research topics: economics; human capital and society; instrumental methods and models; foresight research; and international research. Hundreds of scientists from around the world will take part in the conference.

On December 12–13, 2025, the School of Finance of the HSE Faculty of Economic Sciences will host the Third International Annual Conference ‘ESG Corporate Dynamics: the Challenges for Emerging Capital Markets.’ Representatives of leading Russian and international universities will discuss the issues involved in companies’ transition to sustainable development principles and in managing new types of risk.

A paper by our colleagues Irina Ivashkovskaya and Artem Anilov titled "On compensation incentives, managerial overconfidence, and payout policy" has been published in the journal Finance Research Letters.

On 23 June 2025 the leading international peer-reviewed journal – Journal of Economics and Business – published a paper by Irina Ivashkovskaya, Professor of the School of Finance, and Artem Anilov, Associate Professor of the School of Finance, How to Incentivize CEOs to Boost Payouts? The Role of Inside Debt.

Economists from HSE and RUDN University have analysed issues related to corporate digital transformation processes. The introduction of digital solutions into corporate operations reduces the number of patents in the field of green technologies by 4% and creates additional financial difficulties. However, if a company focuses on sustainable development and increases its rating in environmental, social, and governance performance (ESG), the negative effects decrease. Moreover, when the ESG rating is high, digitalisation can even increase the number of patents by 2%. The article was published in Sustainability.

The annual conference ‘ESG Corporate Dynamics: The Challenges for Emerging Capital Markets’ 2024 has been held at the School of Finance. The event brought together over 20 scholars from leading universities in China, Egypt, Malaysia, and other countries.

The publishing office of HSE University released the book Russian Corporations in New Economic Reality. Financial Strategies on the Way towards Antifragility under the editorship of Irina Ivashkovskaya, Tenured Professor, Head of the School of Finance of HSE University. The scholars studied the procedures of transformation and adaptation of large Russian companies to the sanctions regime and cancel culture. The book presentation will take place on 7 November on HSE campus in Moscow at Pokrovsky Boulevard.

What is essential for managing ESG risks effectively — specific talents, a variety of experiences, or academic knowledge? In the light of the ESG transition, which aspects of corporate governance should analysts and investors focus on? A recent study by researchers from the School of Finance addresses these questions.

On 7 November School of Finance of the Faculty of Economic Sciences of HSE University presented a multi-authored monograph Russian Corporations in New Economic Reality. Financial Strategies on the Way towards Antifragility written by a group of scholars and financial management practitioners and released by the HSE publishing house. The authors and business community representatives took part in the presentation and discussion of the research results.