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Контакты

Школа финансов ВШЭ

119049 Москва, Покровский бульвар, 11,
офис S629.

Телефоны:
+7 (495) 772-95-90*27447, *27190, *27947 (по общим вопросам Школы финансов)
+7 (495) 621-91-92 (по вопросам Бизнес-образования)
+7 (495) 916-88-08 (Магистерская программа "Корпоративные финансы")

E-mail:

df@hse.ru (по общим вопросам Школы финансов),
finance@hse.ru (по вопросам Бизнес-образования)

Руководство
Руководитель Ивашковская Ирина Васильевна

ординарный профессор НИУ ВШЭ, доктор экономических наук, заслуженный работник высшей школы РФ

Школа финансов: Менеджер Непряхина Ульяна Викторовна

+7 495 772 95 90 (доб. 27190)

Школа финансов: Администратор Райн Анна Сергеевна

+7495-772-95-90 (доб. 27447)

Школа финансов: Администратор Липатова Татьяна Геннадьевна

+7495-772-95-90 (доб. 27947)

Мероприятия
Статья
The upside-down world of value capture. Do companies in technology sector follow the principles of profitable growth?

V. S. Vinogradova.

The Journal of the New Economic Association. 2024. Vol. 62. No. 1. P. 171-195.

Статья
International capital markets with interdependent preferences: Theory and empirical evidence
В печати

Dergunov I., Curatola G.

Journal of Economic Behavior and Organization. 2023. Vol. 212. P. 403-421.

Статья
Patterns of value creation in strategic acquisitions for growth

Vinogradova V.

Asian Academy of Management Journal of Accounting and Finance. 2023. Vol. 19. No. 2. P. 127-160.

Статья
Сравнение подходов к оценке риска со стороны центрального контрагента

Потапов А. И., Курбангалеев М. З.

Экономический журнал Высшей школы экономики. 2023. Т. 27. № 2. С. 196-219.

Статья
Developing a Scoring Credit Model Based on the Methodology of International Credit Rating Agencies

Alyona Astakhova, Sergei Grishunin, Gennadii Pomortsev.

Journal of Corporate Finance Research. 2023. Vol. 17. No. 1. P. 5-16.

Статья
The New Strategy of High-Tech Companies – Hidden Sources of Growth

Kokoreva M. S., Stepanova A. N., Povkh K.

Foresight and STI Governance. 2023. Vol. 17. No. 1. P. 18-32.

Статья
Нефинансовые факторы эффективности фармацевтических компаний в России

Макушина Е. Ю., Малофеева Т. Н., Козиорова О. И. и др.

Вестник Московского университета. Серия 6: Экономика. 2023. № 1. С. 135-163.

Статья
Time to Extend Credit? Bank Credit Lines During the COVID-19 Pandemic in Russia

Semenova M., Popova P.

Russian Journal of Money and Finance. 2023. Vol. 82. No. 2. P. 106-119.

Статья
Do Smart Depositors Avoid Inefficient Bank Runs? An Experimental Study

Semenova M.

Emerging Markets Finance and Trade. 2023. Vol. 59. No. 8. P. 2710-2726.

Статья
Cryptocurrency Momentum and Reversal

Victoria Dobrynskaya.

Journal of Alternative Investments. 2023. Vol. 26. No. 1. P. 65-76.

Статья
Cryptocurrencies Meet Equities: Risk Factors and Asset-pricing Relationships

Victoria Dobrynskaya, Dubrovskiy M.

International Finance Review. 2023. Vol. 22. P. 95-111.

Соболева О.А., Макеева Е.Ю. и Асланян Г. К. выступили с докладом на тему “The Influence of Corporate Governance Mechanisms on Probability of Fraud Occurrence: Evidence from Russian Companies” на международной конференции EIASM

18-19 марта сотрудники Школы Финансов старший преподаватель Соболева Оксана Александровна, доцент Макеева Елена Юрьевна и студент 2 курса магистратуры СУФФ Асланян Гаянэ Кареновна представили совместное исследование на международной конференции European institute of advanced studies in management (EIASM) 2-nd Workshop on Fraud and Accounting Scandals.

 

Название статьи:

“The Influence of Corporate Governance Mechanisms on Probability of Fraud Occurrence: Evidence from Russian Companies”.

 

Больше информации о конференции по ссылке

 

Аннотация:

This study examines whether board and its` committees structure influence the probability that corporate fraud will occur. We investigate the role of the aforementioned variables as corporate governance mechanisms and their influence on the likelihood of fraud in the context of listed Russian companies. In particular, we evaluate the effect of gender diversity, size, the degree of independence, and the frequency of meetings for a board and its committees.

Our empirical study is based on 160 observations of MOEX-listed public Russian companies, for which fraudulent behaviour has been revealed in 32 over a 5-year period from 2014 to 2018. The relationship between the probability of fraud occurrence and corporate governance was investigated employing logit model. The data was collected from firms’ annual reports and Thomson Reuters Eikon. Data on fraud cases were collected from leading Russian news media resources.

We detected a significant negative relationship between nomination and renumeration committee chairman independence and the likelihood of fraud. We established the insignificance of board size and committees’ size and the insignificance of their meetings’ frequency on fraud probability. The share of independent directors and the independence of board and audit committee chairmen also had no influence on fraud likelihood. One more significant result is that if chairman is independent, increase in relative meetings’ frequency detection of fraudulent behaviour is more frequent than in cases where non-independent chairmen are present.

The scientific novelty of this study is our identification of key drivers to optimise corporate governance in Russia, and decrease the likelihood of fraud. Our research indicates governance effectiveness in Russia can be improved by increasing the independence of nomination and remuneration committee chairman. Since female directors’ presence on the board decreases fraud probability, our research also supports the argument for increasing gender diversity in this sphere.