Varvara Nazarova
- Visiting Lecturer:HSE Campus in St. Petersburg / Institute of Continuing Professional Education
- Associate Professor:HSE Campus in St. Petersburg / St.Petersburg School of Economics and Management / Department of Finance
- Programme Academic Supervisor:Finance, Finance (part-time)
- Varvara Nazarova has been at HSE University since 2005.
Education, Degrees and Academic Titles
- 2015Associate Professor
- 2010
Candidate of Sciences* (PhD) in Economics and National Economy Management
Saint Petersburg State University - 2009
Doctoral programme
Saint Petersburg State University - 2005
Degree
HSE University
According to the International Standard Classification of Education (ISCED) 2011, Candidate of Sciences belongs to ISCED level 8 - "doctoral or equivalent", together with PhD, DPhil, D.Lit, D.Sc, LL.D, Doctorate or similar. Candidate of Sciences allows its holders to reach the level of the Associate Professor.

Young Faculty Support Program (Group of Young Academic Professionals)
Category "Future Professoriate" (2011-2012)
Courses (2022/2023)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Eng
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management; 2 year, 1, 2 module)Eng
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 2, 3 module)Eng
- Corporate Finance (Mago-Lego; 2, 3 module)Eng
- Mentor's Seminar "Finance, Corporations and Sustainability" (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 1-4 module)Eng
- Principles of Taxation for Business and Investment Planning (Optional course (university); 2, 3 module)Eng
- Research Seminar "Master Thesis Discussion" (Master’s programme; St.Petersburg School of Economics and Management; 2 year, 4 module)Eng
- Research Seminar "Research Methods in Finance" (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 1-3 module)Eng
- Taxation and Investment planning for business stability (Minor; St.Petersburg School of Economics and Management; 3, 4 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 3 module)Eng
- Tax Management (Mago-Lego; 3 module)Eng
- Past Courses
Courses (2021/2022)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Eng
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management; 2 year, 1, 2 module)Eng
- Corporate Finance (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 1-3 module)Eng
- Insurance (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1 module)Rus
- Investment and Its Economic Assessment (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1-3 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1-3 module)Rus
- Taxes (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 3, 4 module)Eng
- Valuation of the Company (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1, 2 module)Rus
Courses (2020/2021)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1, 2 module)Eng
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management; 2 year, 1, 2 module)Eng
- Corporate Finance (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 1-3 module)Eng
- Insurance (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1 module)Rus
- Investment and Its Economic Assessment (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Rus
- Project Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1-3 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1-3 module)Rus
- Taxes and Taxation (Bachelor’s programme; St.Petersburg School of Economics and Management; 2 year, 3 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 3, 4 module)Eng
- Valuation of the Company (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1, 2 module)Rus
Courses (2019/2020)
- Assets Evaluation (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 4 module)Rus
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management; 2 year, 1 module)Eng
- Corporate Finance (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 1-3 module)Eng
- Credit Application Selection/Selection of Funding Sources Training (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Rus
- Insurance (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1 module)Rus
- Investment and Its Economic Assessment (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Rus
- Investments (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 2 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 4 year, 1-3 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1-3 module)Rus
- Taxes and Taxation (Bachelor’s programme; St.Petersburg School of Economics and Management; 2 year, 3 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 3, 4 module)Eng
- Valuation of the Company (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1, 2 module)Rus
Courses (2018/2019)
- Assets Evaluation (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 4 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 1-3 module)Eng
- Insurance (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 2, 3 module)Rus
- Taxes and Taxation (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 4 module)Rus
- Taxes and Taxation (Bachelor’s programme; St.Petersburg School of Economics and Management; 2 year, 3 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management; 1 year, 3, 4 module)Eng
- Valuation of the Company (Bachelor’s programme; St.Petersburg School of Economics and Management; 3 year, 1, 2 module)Rus
Publications14
- Article V. V. Nazarova, I. YU. Churakova, B. N. Kurilov, D. D. Titova. CONSUMER BEHAVIOR TOWARDS RUSSIAN BRANDS OF FOREIGN FMCG COMPANIES // Russian Management Journal. 2022. Vol. 4. No. 20. P. 546-565. doi
- Article Nazarova V., Victoria Lavrova. Do ESG Factors Influence Investment Attractiveness of the Public Companies? // Journal of Corporate Finance Research. 2022. Vol. 16. No. 1. P. 38-64. doi
- Article Nazarova V. Analysis of the effectiveness of healthcare M&A transactions in developed countries // Panoeconomicus. 2021. Vol. 68. No. 3. P. 375-396. doi
- Article Nazarova V., Volosatova Ksenia, Golovina Olga, Yarusova K. Drivers' estimation of the luxury companies // Decision. 2021. Vol. 49. No. 1. P. 105-128. doi
- Article Будченко А., Nazarova V. Capital Structure in Emerging Markets: Evidence from China // Journal of Corporate Finance Research. 2020. Vol. 14. No. 1. P. 7-19. doi
- Article Nazarova V., Кошелев К. EVALUATION OF SYNERGISTIC EFFECTS IN M&A DEALS IN THE CONSTRUCTION INDUSTRY // Finance Research Letters. 2020. Vol. 36. P. 101454. doi
- Article Nazarova V., Левичев И. Применение математических методов для повышения эффективности управления инвестиционным портфелем // HSE Economic Journal. 2017. Vol. 21. No. 3. P. 451-481.
- Article Nazarova V., Kolkina A. Corporate Governance and Effectiveness of a Diversified Company: Russian Experience (In English) // Journal of Corporate Finance Research. 2016. No. 3 (39). P. 56-70.
- Article Nazarova V. Corporate Diversification Effect on Firm Value (Unilever Group Case Study) // Annals of Economics and Finance (China). 2015. No. 16-1. P. 173-198.
- Article Nazarova V. An Empirical Study of Unsystematic Risk Factors in the Capital Asset Pricing Model: the Case of Russian Forestry Sector // Modern Challenges for Business and Economy in CEE Countries. EBER: Entreneurial Business and Economics Review. 2014. Vol. 1. No. 4. P. 37-57.
- Article Nazarova V. Evaluation of the effectiveness of methods of the imperfect hedging of financial options on the Russian forward market // Journal of Derivatives & Hedge Funds. 2014. No. 20. P. 28-51.
- Article Nazarova V., Khrabrova V. E. How to Make the Russian Grain Market More Effective? // Economics of Agriculture. 2013. Vol. 60. No. 4. P. 867-883.
- Article Nazarova V. Russia’s Forestry Sector: Realities and Prospects // International Research Journal of Finance and Economics. 2013. No. 110. P. 47-60.
- Article Nazarova V. The Manifestation of Market Failure in Healthcare // European Journal of Social Sciences. 2013. Vol. 40. No. 1. P. 115-122.
Employment history
Professional experience - 18 years
Working in insurance business, financial consulting
'Everyone Will Find Themselves Here': Varvara Nazarova on the Master's Programme 'Finance'
The Master's programme 'Finance' was opened at HSE University-St Petersburg in 2009. Since then, it has been awarded several international accreditations, entered into an agreement to implement a double-degree programme with an Italian university, and extended its cooperation with large companies. From their first year, the programme's students start solving real tasks from industry partners. In her interview, Varvara Nazarova, Academic Supervisor of the programme, explains what sets the programme apart from others, which innovations are planned for the future, and who should apply.
'This Upcoming Academic Year, I Plan to Enjoy Every Moment'
With the new academic year approaching, it is high time to make plans, wishes, and set new goals. We talked to students and lecturers of HSE University-St Petersburg about what they expect from the 2022–2023 academic year.
Bachelor’s Programme in Economics Accredited by ICAEW
On October 31st, 2017, the bachelor’s programme in Economics taught by HSE in St. Petersburg successfully passed accreditation by ICAEW, a prestigious British association of accountants.
Our student's research is published in Journal of Corporate Finance Research
The paper of our student Angelika Kolkina and associate professor Varvara Nazarove from department of finance "Corporate Governance and Effectiveness of a Diversified Company: Russian Experience" is published in issue 3(39) of Journal of Corporate Finance Research
The Results of the Saint Petersburg International Student Research Forum: Mini-conference «Modern Finance: Risks, Challenges, Values»
February, 4 and 5, mini-conference «Modern Finance: Risks, Challenges, Values» was held in our campus as a part of the Saint Petersburg International Research Forum
The research on mergers and acquisitions is been contitued
The article “Determination of an Optimum Premium Paid in M&A Transactions in Oil and Gas Section” written by Oksana Shevyakina, a student of the Master’s program “Finance”, and Varvara Nazarova, an associate professor of the Finance Department, was published in the fourth issue of the “Journal of Corporate Finance Research” in 2015. It is the second published article dealing with mergers and acquisitions that has become a result of the collaborative work of our students, graduates and, of course, university professors. Daria Luzina and Elena Rogova’s article has been published before.