Sergei Grishunin
- Senior Lecturer:Faculty of Economic Sciences / School of Finance
- Sergei Grishunin has been at HSE University since 2019.
Education and Degrees
- 1999
Candidate of Sciences* (PhD)
St. Petersburg State Technical University - 1996
Master's in Economics and Management at Machine-Building Enterprises
Leningrad State Technical 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.
Continuing education / Professional retraining / Internships / Study abroad experience
Cornell University, Johnson Graduate School of Management. Master of Business Administration, Class of 2004.
Chartered Financial Analyst (CFA), 2012
Certified internal auditor (CIA), 2006
Certified information system auditor (CISA), 2007
Student Term / Thesis Papers
Development of the mechanism of assessment of creditworthiness of construction companies
- Bachelor
A. Bukreeva, The Development and Validation of Rating Model for Insurance Companies. Faculty of Economic Sciences, 2021
- Master
B. Yafimchyk, Determining the Creditworthiness Factors of Companies in the Sectors of Investment Risk of the Moscow Exchange. Faculty of Economic Sciences, 2021
N. Yaremich, Construction and Validation of Leasing Companies Rating Model. Faculty of Economic Sciences, 2021
K. Iakovleva, Comparative Analysis of Economic Value Added's Drivers in Russian Banks. Faculty of Economic Sciences, 2021
T. Platonova, Impact Analysis of Risk Profiles on Economic Profit of Russian Companies in Fertilizers. Faculty of Economic Sciences, 2021
P. Solovyeva, Determinants of Economic Value Added in Russian Commercial Banks. Faculty of Economic Sciences, 2021
A. Kuzminova, Analysis of the Determinants of the Economic profit of Russian Companies. Faculty of Economic Sciences, 2021
M. Saliichuk, CEO Overconfidence and Independence of the Board of Directors on the Effectiveness of M&A. Faculty of Economic Sciences, 2021
K. Skuridina, Determinants of Share Buyback Decision of High Technology Companies in the US Market. Faculty of Economic Sciences, 2021
S. Annamuradova, Comparative Analysis of Economic Value added's Drivers in Russian Banks. Faculty of Economic Sciences, 2021
Z. Akylbekova, Comparative Analysis of the Predictive Ability of Empirical Models for Assessing the Creditworthiness of Russian Insurance Companies. Faculty of Economic Sciences, 2021
A. Salomatina, Analysis of the Impact of Non-Financial Factors on the Steel Companies' Value. Faculty of Economic Sciences, 2021
S. Shapovalova, Determinants of Dividend Payments of Russian Companies. Faculty of Economic Sciences, 2021
V. Shiryakina, Building and Validation of the Credit Rating Model for the Growth Sector on Moscow Stock Exchange. Faculty of Economic Sciences, 2021
G. Artsedi, CEO Overconfidence and Independence of the Board of Directors on the Effectiveness of M&A. Faculty of Economic Sciences, 2021
A. Karmazin, Development of Financial Strategy to Overcome Crisis for Shipping Industry Companies. Faculty of Economic Sciences, 2020
Y. Martirosova, Modelling of Investment Strategy for Efficiency Improvement of Digital Communication Platform (case). Faculty of Economic Sciences, 2020
E. Sklyankina, Development of liquidity Risk Management Model of Russian Development Companies. Faculty of Economic Sciences, 2020
A. Sandakova, Determinants of Economic Profit of Russian Retail Companies. Faculty of Economic Sciences, 2020
V. Lobanova, Comparison of Predictive power of Econometric Models for Assessment of Creditworthiness of Telecommunication Companies from Emerging Economies. HSE Banking Institute, 2020
O. Somova, Design of a Scoring Model for Assessing the Credit Quality of Corporate Borrowers for Development Banks. HSE Banking Institute, 2020
A. Astakhova, Development of Rating System for Predicting Credit Risk and Probabilities of Default of Russian Financial Institutes by Using Machine Learning Models. HSE Banking Institute, 2020
F. Tarasov, Cross-sectoral Default Probability Modelling. Faculty of Economic Sciences, 2020
Courses (2021/2022)
- Financial Institutions and Risks (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 3 module)Rus
- Financial Institutions and Risks (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 3 module)Rus
Financial Institutions and Risks (Bachelor’s programme; Faculty of Economic Sciences; field of study "38.03.01. Экономика", field of study "38.03.01. Экономика"; 2 year, 3 module)Rus
- Forensics (Master’s programme; Faculty of Economic Sciences; 2 year, 2 module)Eng
- Forensics (Master’s programme; Faculty of Economic Sciences; 1 year, 2 module)Eng
- Research Seminar 'Corporate Finance' (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Risk Management (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
Risk Management in Financial Institutions (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.01. Экономика"; 2 year, 1, 2 module)Rus
- Past Courses
Courses (2020/2021)
- Financial Institutions and Risks (Bachelor’s programme; Faculty of Economic Sciences; 2 year, 3 module)Rus
- Исследовательский проектный семинар (НИС) (Optional course (faculty); Faculty of Economic Sciences; 1-3 module)Rus
- Research Project Seminar "Corporate Financial Policy" (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Research Project Seminar "Strategic Finance Company" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-4 module)Rus
- Risk Management (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
Risk Management in Financial Institutions (Master’s programme; Faculty of Economic Sciences; field of study "38.04.01. Экономика", field of study "38.04.08. Финансы и кредит"; 2 year, 1, 2 module)Rus
Courses (2019/2020)
- Research Seminar 3 (Master’s programme; Faculty of Economic Sciences; 2 year, 1-3 module)Rus
- Research Seminar "Financial Markets and Financial Institutions 3" (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Risk Management in Financial Institutions (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
Publications22
- Book Градов А. П., Кузин Б. И., Сулоева С. Б., Гришунин С. В., Медников М. Д., Соколицын А. С. Стратегия и тактика антикризисного управления фирмой. СПб. : СпецЛит, 1996.
- Article Grishunin S., Suloeva S. Project Controlling in Telecommunication Industry // Lecture Notes in Computer Science. 2015. No. 9247. P. 573-584. doi
- Article Grishunin S., Suloeva S. Development of Project Risk Rating for Telecommunication Company // Lecture Notes in Computer Science. 2016. No. 9870. P. 752-765. doi
- Article Grishunin S. Developing the mechanism of qualitative risk assessment in strategic controlling // St. Petersburg state polytechnical university journal. Economics. 2017. Vol. 10. No. 2. P. 64-74. doi
- Chapter Grishunin S., Suloeva S. Development of the Credit Risk Assessment Mechanism of Investment Projects in Telecommunications, in: Internet of Things, Smart Spaces, and Next Generation Networks and Systems. 17th International Conference, NEW2AN 2017, 10th Conference, ruSMART 2017, Third Workshop NsCC 2017, St. Petersburg, Russia, August 28–30, 2017, Proceedings. Switzerland : Springer Publishing Company, 2017. doi P. 300-314. doi
- Chapter Dyatchkova N., Grishunin S., Karminsky A. M. Credit ratings patterns for BRICS industrial companies, in: 6th International Conference on Information Technology and Quantitative Management Issue 139: 6th International Conference on Information Technology and Quantitative Management. United States of America : Editions Elsevier, 2018. doi P. 17-24. doi
- Chapter Grishunin S., Suloeva S., Nekrasova T. Development of the Mechanism of Risk-Adjusted Scheduling and Cost Budgeting of R&D Projects in Telecommunications, in: Internet of Things, Smart Spaces, and Next Generation Networks and Systems 18th International Conference, NEW2AN 2018, and 11th Conference, ruSMART 2018, St. Petersburg, Russia, August 27–29, 2018, Proceedings. Geneva, Switzerland : Springer Publishing Company, 2018. doi P. 456-470. doi
- Chapter Гришунин С. В., Карминский А. М., Дьячкова Н. Ф. Паттерны кредитных рейтингов промышленных компаний стран БРИКС // В кн.: IX Московская международная конференция по исследованию операций (ORM2018). Москва, 22 – 27 октября 2018 г. Труды. Т. 2. М. : МГУ, МАКС Пресс, 2018. doi С. 317-321.
- Article Гришунин С. В., Сулоева С. Б., Муханова Н. В. Разработка концепции риск-контроллинга для промышленного предприятия // Организатор производства. 2018. Т. 26. № 1. С. 45-56. doi
- Chapter Grishunin S., Сулоева С. Б., Бурова Е. Е. Developing a Cybersecurity Risk Analysis System for High-Tech Equipment in Machine Industry, in: SPBPU IDE '19: Proceedings of the 2019 International SPBPU Scientific Conference on Innovations in Digital Economy. NY, United States of America : Association for Computing Machinery (ACM), 2019. Ch. 21. P. 1-6. doi
- Chapter Grishunin S., Suloeva S., Egorova A., Nekrasova T. Development of the Mechanism of Assessing Cyber Risks in the Internet of Things Projects, in: Internet of Things, Smart Spaces, and Next Generation Networks and Systems. 19th International Conference, NEW2AN 2019, and 12th Conference, ruSMART 2019, St. Petersburg, Russia, August 26–28, 2019, Proceedings Issue 11660. Switzerland : Springer, 2019. doi P. 481-494. doi
- Book Grishunin S., Suloeva S., Nekrasova T., Egorova A. Internet of Things, Smart Spaces, and Next Generation Networks and Systems. 19th International Conference, NEW2AN 2019, and 12th Conference, ruSMART 2019. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics).. Springer, 2019. doi
- Chapter Grishunin S., Karminsky A. M. Application of a System-synergistic Approach in the Development of the Target Costing Mechanism for a High-tech Industrial Enterprise in Emerging Market, in: International Research Conference “GSOM Emerging Markets Conference-2020”. St. Petersburg, Russia: St. Petersburg State University Graduate School of Management, 2020. P. 404-408.
- Article Grishunin S., Egorova A., Suloeva S. B., Burova E. V. Comparison of Empirical Methods for the Reproduction of Global Manufacturing Companies’ Credit Ratings // International Journal of Technology. 2020. Vol. 11. No. 6. P. 1223-1232. doi
- Chapter Grishunin S., Suloeva S. B., Burova E. V. Developing a Mechanism for Assessing Cyber Risks in Digital Technology Projects Implemented in an Industrial Enterprise, in: Innovations in Digital Economy. First International Conference, SPBPU IDE 2019, St. Petersburg, Russia, October 24–25, 2019, Revised Selected Papers. Switzerland : Springer, 2020. doi Ch. 1. P. 3-18. doi
- Chapter Grishunin S., Suloeva S. B., Nekrasova T. P., Burova E. E. Development of Risk Controlling Mechanism and Tools for Agile Projects in Telecommunications, in: Internet of Things, Smart Spaces, and Next Generation Networks and Systems. 20th International Conference, NEW2AN 2020, and 13th Conference, ruSMART 2020, St. Petersburg, Russia, August 26–28, 2020, Proceedings, Part II Vol. 2: 20th International Conference, NEW2AN 2020, and 13th Conference, ruSMART 2020, St. Petersburg, Russia, August 26–28, 2020, Proceedings, Part II. Book 12526: LNCS. Switzerland : Springer, 2020. doi P. 270-284. doi
- Article Karminsky A. M., Grishunin S., Dyachkova N., Bisenov M. The comparison of empirical methods for modeling credit ratings of industrial companies from BRICS countries // Eurasian Economic Review. 2020. Vol. 10. P. 333-348. doi
- Chapter Егорова А. А., Гришунин С. В. Оценка влияния киберрисков на предприятиях розничной торговли // В кн.: Материалы Международного молодежного научного форума «ЛОМОНОСОВ-2020». М. : МАКС Пресс, 2020. С. 1-3.
- Chapter Karminsky A. M., Grishunin S. Aggregation of Rating Systems for Emerging Financial Markets, in: Risk Assessment and Financial Regulation in Emerging Markets' Banking: Trends and Prospects / Ed. by A. M. Karminsky, P. E. Mistrulli, M. Stolbov, Y. Shi. Springer, 2021. doi doi
- Chapter Grishunin S., Dyachkova N., Karminsky A. M. Aggregation of Rating Systems for Emerging Financial Markets, in: Risk Assessment and Financial Regulation in Emerging Markets' Banking: Trends and Prospects. Springer, 2021. doi Ch. 4. P. 93-119. doi
- Chapter Karminsky A. M., Grishunin S. Principles of Rating Estimation in Emerging Countries, in: Risk Assessment and Financial Regulation in Emerging Markets' Banking: Trends and Prospects / Ed. by A. M. Karminsky, P. E. Mistrulli, M. Stolbov, Y. Shi. Springer, 2021. doi P. 67-92. doi
- Chapter Grishunin S., Dyachkova N., Karminsky A. M. Principles of Rating Estimation in Emerging Countries, in: Risk Assessment and Financial Regulation in Emerging Markets' Banking: Trends and Prospects. Springer, 2021. doi Ch. 3. P. 67-92. doi
Conferences
- 2020Международный молодежный научный форум «ЛОМОНОСОВ-2020 (Moscow). Presentation: Оценка влияния киберрисков на предприятиях розничной торговли
- Global Strategy and Emerging Markets Conference 2020 (Ithaca). Presentation: Developing a cyber risk management mechanism for retail companies operating in emerging market
- Analytics for Management and Economics Conference (AMEC) (St. Petersburg). Presentation: Comparison of empirical methods for modelling of credit ratings of machine building companies from developed and developing markets
- Analytics for Management and Economics Conference (AMEC) (St. Petersburg). Presentation: Development of a rating system for predicting credit risk and default probabilities of Russian banks using machine learning models
- Analytics for Management and Economics Conference (AMEC) (St. Petersburg). Presentation: Rating agencies in the BRICS countries
- Annual GSOM Emerging Market Conference 2020 (St. Petersburg). Presentation: Application of a System-synergistic Approach in the Development of the Target Costing Mechanism for a High-tech Industrial Enterprise in Emerging Market
- 2nd International Scientific Conference on innovations in digital economy: SPBPU IDE-2020 (St. Petersburg). Presentation: Comparison of Empirical Methods for the Reproduction of Global Manufacturing Companies’ Credit Ratings
- Четвертый Российский экономический конгресс (Moscow). Presentation: Разработка рейтинговой системы для прогнозирования кредитного риска и вероятностей дефолта российских банков с помощью моделей машинного обучения
- Eurasia Business and Economic Society (Madrid). Presentation: Development of credit rating model of assessing the creditworthiness and predicting defaults of Russian insurance companies
- Internet of Things, Smart Spaces, and Next Generation Networks and Systems. 20th International Conference, NEW2AN 2020, and 13th Conference, ruSMART 2020 (St. Petersburg). Presentation: Development of Risk Controlling Mechanism and Tools for Agile Projects in Telecommunications
- 201919th International Conference on Next Generation Wired/Wireless Advanced Networks and System (Санкт-Петербург). Presentation: Development of the Mechanism of Assessing Cyber Risks in the Internet of Things Projects
Employment history
Deloitte and Touche CIS, October 2017, Senior Manager
ACRA (AO), June 2017 – October 2017, Director (corporate finance)
Moody's Investor Services, August 2010 - May 2017, Associate VP, analysis
Fitch Ratings, August 2008- August 2010, Director (corporate finance)
Deloitte and Touche CIS, November 2004-June 2008, Manager