Varvara Nazarova
- Head, Associate Professor: HSE Campus in St. Petersburg / St.Petersburg School of Economics and Management / Department of Finance
- Programme Academic Supervisor: Finance
- Varvara Nazarova has been at HSE University since 2005.
Education, Degrees and Academic Titles
St Petersburg State University
St Petersburg State University
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.
Awards and Accomplishments
Best Teacher — 2021–2023, 2017, 2014
Young Faculty Support Programme (Group of Young Academic Professionals)
Category "Future Professoriate" (2011–2012)
Courses (2024/2025)
- Business Valuation (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics, Management; 3 year, 4 module)Eng
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 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 field of study Finance and Credit; 2 year, 1-4 module)Eng
- Mentor's Seminar "Finance, Corporations and Sustainability" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-4 module)Eng
- Research Seminar "Research Methods in Finance" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-4 module)Eng
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 3 module)Eng
- Tax Management (Mago-Lego; 3 module)Rus
- Taxation and Investment planning for business stability (Minor; St.Petersburg School of Economics and Management)Rus
- Valuation and Business Value Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 2 year, 1, 2 module)Eng
- Valuation and Business Value Management (Mago-Lego; 1, 2 module)Eng
- Past Courses
Courses (2023/2024)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 2 module)Eng
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 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 field of study Finance and Credit; 1 year, 1-4 module)Eng
- Mentor's Seminar "Finance, Corporations and Sustainability" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 2 year, 1-4 module)Eng
- Research Seminar "Research Methods in Finance" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-4 module)Eng
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 3 module)Eng
- Tax Management (Mago-Lego; 3 module)Eng
- Taxation and Investment planning for business stability (Minor; St.Petersburg School of Economics and Management; 3, 4 module)Rus
- Valuation and Business Value Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit, field of study Finance and Credit; 2 year, 1, 2 module)Eng
- Valuation and Business Value Management (Mago-Lego; 1, 2 module)Eng
Courses (2022/2023)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 2 module)Eng
- Business Valuation (Mago-Lego; 1, 2 module)Eng
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 2 year, 1, 2 module)Eng
- Corporate Finance (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit, field of study Finance and Credit; 1 year, 2, 3 module)Eng
- Corporate Finance (Mago-Lego; 2, 3 module)Eng
- Investment and Its Economic Assessment (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 2 module)Rus
- Mentor's Seminar "Actual Trends in Global Finance Research" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-4 module)Eng
- Mentor's Seminar "Finance, Corporations and Sustainability" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-4 module)Eng
- Principles of Taxation for Business and Investment Planning (Optional course (university); 2, 3 module)Eng
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1-3 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 5 year, 1 module)Rus
- Research Seminar "Master Thesis Discussion" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 2 year, 4 module)Eng
- Research Seminar "Research Methods in Finance" (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit, field of study Finance and Credit; 1 year, 1-3 module)Eng
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 3 module)Eng
- Tax Management (Mago-Lego; 3 module)Eng
- Taxation and Investment planning for business stability (Minor; St.Petersburg School of Economics and Management; 3, 4 module)Rus
Courses (2021/2022)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 2 module)Eng
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 2 year, 1, 2 module)Eng
- Corporate Finance (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-3 module)Eng
- Insurance (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1 module)Rus
- Investment and Its Economic Assessment (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 2 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1-3 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1-3 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 3, 4 module)Eng
- Taxes (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1 module)Rus
- Valuation of the Company (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1, 2 module)Rus
Courses (2020/2021)
- Assets Evaluation and Investment Analyses (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1, 2 module)Eng
- Business Valuation (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 2 year, 1, 2 module)Eng
- Corporate Finance (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1 module)Rus
- Corporate Finance (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 1-3 module)Eng
- Insurance (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1 module)Rus
- Investment and Its Economic Assessment (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 2 module)Rus
- Project Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1-3 module)Rus
- Project Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 5 year, 1 module)Rus
- Research Seminar (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 4 year, 1-3 module)Rus
- Tax Management (Master’s programme; St.Petersburg School of Economics and Management field of study Finance and Credit; 1 year, 3, 4 module)Eng
- Taxes and Taxation (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 2 year, 3 module)Rus
- Valuation of the Company (Bachelor’s programme; St.Petersburg School of Economics and Management field of study Economics; 3 year, 1, 2 module)Rus
Supervisor of the following Doctoral theses
- 1E. Wittmann Impact of board composition and characteristics on firm resilience and adaptability
- 2I. Burkov The role of affective dimensions in consumers’ behavioral intentions
Employment history
Professional experience - 18 years
Working in insurance business, financial consulting
PROCareer Event: Digitalisation in Banking from BSPB
On 30 January, the Kantemirovskaya video studio hosted an online panel discussion with experts Alexey Sergeyevich Ganichev, Deputy Director of Programming at Bank St. Petersburg, Varvara Nazarova, Head of the SEM Finance Department and Academic Supervisor of the Finance Master's Programme, and moderator Maria Mikhailovna Abramovich, Project Manager at the Career Development Centre and guest lecturer at the SEM Department.
Current Trends in the Bond Market: Guest Lecture by Kristjan Markovc
On 18 January, the Master's programme ‘Finance’ hosted a guest lecture by Kristjan Markovc (University of Naples Federico II, Ph.D. in Economics), a postgraduate student of the University of Naples. The lecture attracted students interested in corporate finance, monetary policy and current trends in the bond market.
‘International Finance’: Lecture by Deputy Minister of Finance (2013-2015) Dmitry Pankin
On 22 January, the Master's programme ‘Finance’ hosted a guest lecture by Dmitry Vladimirovich Pankin, one of the most authoritative experts in the field of international finance. The listeners had a unique opportunity to talk to the expert, who has more than 25 years of experience in senior positions in international financial institutions and government agencies.
As part of the new course on M&A, the second year MP Finance course had a guest lecture by Denis Sobe-Panek, co-owner of Autostels and independent consultant
On December 7, Denis Sobe-Panek, co-owner of Autostels, one of the leaders of the Russian auto parts market, gave a presentation for Master's students.
A student case championship “Chocolate factory” from the company ‘TeDo’ took place as part of the Master of Finance programme
A case championship “Chocolate factory” took place in Higher School of Economics as part of the Master of Finance programme on 27 November. Students were divided into groups in order to solve real tasks on financial analysis and business evaluation.
Cooperation was successful: our master's students are the winners of the Setl Group case championship!
The team "CASE ME HARDER," consisting of first-year Master's students — Vsevolod Nikolaev, Ivan Rogov, Alisa Belkova, and Viktoriia Mitropolskaia — won the case championship "Cooperation with the Corporation," organized by HSE in collaboration with Setl Group.
The International Webinar on Sustainable Finance: Prospects for Collaboration
On September 20, 2024, the St. Petersburg School of Economics and Management (SEM), together with the Indian Institute of Management Indore (IIM Indore), hosted an international webinar on sustainable finance. The event aimed to bring together experts, faculty, and students from both universities to discuss current issues on the integration of sustainable financial practices into the corporate sector and capital markets.
11th International Conference on Economics and Management at GSOM SPbU
On October 3-5, 2024, the 11th International Conference on Economics and Management took place at the Graduate School of Management of St. Petersburg State University (GSOM SPbU). The event brought together leading experts and scholars from around the world to discuss pressing issues in economics, finance, and management in times of global turmoil.
Business Radar: developing professional competences
On September 30, 2024, the first-year students of the Master’s program in Finance participated in an exciting business game that showcased various aspects of the financial world. Organized by the head of the Department of Finance, Professor Varvara Nazarova, and Professor Iya Churakova, the event aimed to introduce students to the diverse roles within finance, preparing them for future career paths.
Master's Programme 'Finance' at HSE University-St Petersburg Confirms International ACCA Accreditation
The master's programme 'Finance' at HSE University-St Petersburg has confirmed its international accreditation of the Association of Chartered Certified Accountants (ACCA) for five years. Now, the programme graduates can skip several exams when joining ACCA. The qualification gives the alumni a competitive advantage when seeking employment in top Russian and international companies for positions related to finance and accounting.
HSE University Expands Academic Cooperation with Indian Universities
HSE University will develop academic cooperation with Indian universities. This is what the delegation of HSE University-St Petersburg headed by Anna Tyshetskaya, Campus Director, agreed on with several leading universities in India: the University of Delhi, Indian Institute of Technology (IIT Delhi) and Indira Gandhi National Open University (IGNOU).
HSE University-St Petersburg and Indian Institute of Management Indore Agree to Create Mirror Laboratory in the Sphere of Social and Environmental Responsibility
During a visit to the Indian Institute of Management Indore (IIM Indore) by a HSE University-St Petersburg delegation led by campus Director Anna Tyshetskaya, the two universities agreed to create a mirror laboratory in the sphere of environmental behaviour, social well-being, and responsibility management.
Results of HSE St Petersburg Summer School 2023
In August, the HSE University-St Petersburg Summer School came to an end. The participants attended courses in political science, Russian, and finance given by professors of HSE University-St Petersburg, got to know the city, and saw the sights as part of the cultural programme. The summer school hosted students from nine countries: China, Vietnam, South Korea, Japan, Italy, Germany, Uzbekistan and Russia.
How masters save companies
... And so the risk maps are mapped out, business plans are developed, resources required are calculated, cash flows are projected and development projects are presented to CEOs.
How masters save companies
Two months of hard teamwork by master's students successfully concluded in June
'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.