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SPIN-RSCI: 2474-5600
ORCID: 0000-0001-8943-4611
ResearcherID: L-5969-2015
Scopus AuthorID: 37053822300
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Supervisor
I. Ivashkovskaya
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Alexander M. Karminsky

  • Tenured Professor (2018)
  • Alexander M. Karminsky has been at HSE University since 2000.

Education, Degrees and Academic Titles

  • 2009

    Doctor of Sciences* in Economics and National Economy Management

  • 2001
    Member of the Russian Academy of Natural Sciences
  • 2001
    Professor
  • 2001
    Acting Member of the Russian Academy of Natural Sciences
  • 1993

    Doctor of Sciences* in Computer Science, Technology and Management
    Bauman Moscow State Technical University

  • 1971

    Degree
    Lomonosov Moscow State University

* Doctor of Sciences
A post-doctoral degree called Doctor of Sciences is given to reflect second advanced research qualifications or higher doctorates in ISCED 2011.

Courses (2024/2025)

Credit Ratings`Modelling (Postgraduate course’s programme; 2 year, 1 semester)Rus

Courses (2023/2024)

Courses (2022/2023)

Courses (2021/2022)

Credit Ratings`Modelling (Postgraduate course’s programme; 2 year, 1 semester)Rus

Courses (2020/2021)

Courses (2019/2020)

Credit Ratings`Modelling (Postgraduate course’s programme; 2 year, 1 semester)Rus

Courses (2017/2018)

Ratings and their modeling (Optional course (university); 2 module)Rus

Editorial board membership

  • 2010: Member of the Editorial Board, Маркетинг и менеджмент инноваций (Маркетинг і менеджмент інновацій).

  • 2009: Member of the Editorial Board, Управление финансовыми рисками.

  • 2003: Deputy Editor-in-chief, Контроллинг.

Conferences

  • 2019
    2019 IEEE 21st Conference on Business Informatics (CBI) (Moscow). Presentation: • An analysis of links between the ownership structure and financial stability: case of Russian companies
  • 2019 IEEE 21st Conference on Business Informatics (CBI) (Moscow). Presentation: The Determinants of Credit Cycle and Its Forecast
  • 7th International Conference on Information Technology and Quantitative Management - ITQM 2019 (Гранада). Presentation: An analysis of links between the ownership structure and financial stability: case of Russian companies
  • 2018
    IX Московская международная конференция по Исследованию Операций (ORM-2018 Germeyer-100) (Москва). Presentation: Паттерны кредитных рейтингов промышленных компаний стран БРИКС
  • The Sixth International Conference on Information Technology and Quantitative Management (ITQM 2018) (Omaha). Presentation: Credit ratings patterns for BRICS industrial companies
  • 2017
    The 11th Bachelier Colloquium in Stochastic Calculus and Mathematical Finance, Metabief (Metabief). Presentation: Ratings at the financial institutions risk management system: external, internal and their modeling
  • XVIII Апрельская Международная конференция по проблемам развития экономики и общества (Москва). Presentation: Макроэкономические и институциональные детерминанты доходности российских банков

  • Second World Congress of Comparative Economics «1917 –2017: Revolution and Evolution in Economic Development» (St. Petersburg). Presentation: Ratings and Risk Measures: comparison for developed and developing countries
  • 2016
    XVII Апрельская международная конференция (Москва). Presentation: Использование логистической регрессии и альтернативных методов с предварительным отбором переменных при помощи Lasso для улучшения модели вероятности дефолта банков
  • Третий Российский экономический конгресс (Москва). Presentation: Рейтинги в системе управлениыя рисками финансовых институтов: снешние, внутренние, моделирование
  • Третий Российский экономический конгресс (Москва). Presentation: Рейтинги в системе управлениыя рисками финансовых институтов: снешние, внутренние, моделирование
  • VII международный конгресс по контроллингу (Калуга). Presentation: Оценка эффективности инвестиционного проекта по оказанию нефтесервисных услуг
  • 2015
    VI международный конгресс по контроллингу (Владимир). Presentation: Индекс конкурентоспособности строительной отрасли
  • VI международный конгресс по контроллингу (Владимир). Presentation: ФОРМИРОВАНИЕ ПОДХОДОВ К УПРАВЛЕНИЮ ФИЛИАЛЬНОЙ СЕТЬЮ КОММЕРЧЕСКОГО БАНКА
  • XVI Апрельская международная научная конференция "Модернизация экономики и общества" (Москва). Presentation: Оценка кредитных рисков инвестиционных проектов
  • International Symposium "Economics, Business & Finance" (Юрмала). Presentation: Credit ratings as risk management tool: modeling and implementation

  • International Symposium "Economics, Business & Finance" (Юрмала). Presentation: Assessment of credit risk of investment projects

  • International Symposium "Economics, Business & Finance" (Юрмала). Presentation: Информационно-аналитическая поддержка принятия бизнес-решений: методы и практичсеские аспекты

  • 2014
    Perm Winter School on Market Risk and Modeling of Financial Markets (Пермь). Presentation: Modeling bank’s probability of default in IRB framework
  • XV Апрельская международная научная конференция «Модернизация экономики и общества» (Москва). Presentation: Оценка кредитного риска при ипотечном жилищном кредитовании
  • МЕЖДУНАРОДНАЯ НАУЧНАЯ КОНФЕРЕНЦИЯ «Современные проблемы глобальной экономики: от торжества идей либерализма к новой «старой» экономической науке» (Москва). Presentation: ОЦЕНКА ВЕРОЯТНОСТИ ДЕФОЛТА КОРПОРАТИВНЫХ ЗАЕМЩИКОВ БАНКА В УСЛОВИЯХ ЦИКЛИЧНОСТИ ЭКОНОМИКИ
  • 13th EBES Conference - Istanbul (Istanbul). Presentation: Comparison of bank financial stability factors in CIS countries.
  • Развитие рынка независимых рейтинговых услуг в России (Москва). Presentation: Надо ли регулировать деятельность рейтинговых агентств?
  • 14th EBES Conference - Barcelona (Барселона). Presentation: Probability of default evaluation in the residential mortgage lending
  • 14th EBES Conference - Barcelona (Барселона). Presentation: Probability of Default Evaluation in Residential Mortgage Lending
  • 2013
    XIV Апрельская международная научная конференция по проблемам развития экономики и общества НИУ ВШЭ (Москва). Presentation: Совершенствование моделей вероятности дефолта российских банков: использование рейтингов и панельных данных
  • III Международный конгресс по контроллингу (Санкт-Петербург). Presentation: Контроллинг кредитных рисков в коммерческом банке
  • The 11th EBES Conference - Ekaterinburg (Екатеринбург). Presentation: Рейтинги бизнеса: методология строительного комплекса России

Conference participation at 2017-2020

2019

2019 IEEE 21st Conference on Business Informatics (CBI)

15.07.2019 - 17.07.2019 Российская Федерация, Moscow

XX April International Conference

9.04.2019 - 12.04.2019 Russia, Moscow

  • Section modarator

7th International Conference on Information Technology and Quantitative Management - ITQM 2019

3.11.2019 - 6.11.2019 Spain, Granada

 An analysis of links between the ownership structure and financial stability: case of Russian companies 

2018

IX Moscow International conference on Operatonal Research (ORM-2018 Germeyer-100)

22.10.2018 - 27.10.2018 Russia, Moscow

Credit rating's patterns of BRICS companies

 

The Sixth International Conference on Information Technology and Quantitative Management (ITQM 2018)

20.10.2018 - 21.01.2018  Omaha, USA 

Credit ratings patterns for BRICS industrial companies

2017

XVIII April International Conference

11.04.2017 - 14.04.2017 Russia, Moscow

Макроэкономические и институциональные детерминанты доходности российских банков

Макроэкономические и институциональные детерминанты доходности российских банков

The 11th Bachelier Colloquium in Stochastic Calculus and Mathematical Finance, Metabief

16.01.2017 - 21.01.2017  Metabief, France

Ratings at the financial institutions risk management system: external, internal and their modeling

Publications163

Conference and seminar participation

  • Rating model opportunities for non-financial companies 26th NES Research Conference. Moscow, November, 2009 
  • Probability of Default Models for Russian Banks 3rd THOMSON REUTERS RUSSIAN RISK FORUM. Moscow, April, 2009
  • Rating model opportunities for emerging markets Challenges for Analysis of the Economy, the Busi-nesses, and Social Progress  International Scientific Conference  Szeged November 2009                       
  • Rating models system: opportunities and restrictions. EBES-2010 Conference Athens 
  • Metodological opportunities of rating models for banks. Economic and management’2010

  • Informatization of controlling. Economic and management’2010

  • Rating models: Emerging Market Differentiators. EBES 2010 Conference - Istanbul

  • Rating models system: methods and technology. Vangard scientific instruments in management'2010

5.02.2013 - 7.02.2013 Perm Winter School, Российская Федерация, Пермь 
Библиографические карточки доклада на конференции: THE SYNERGY OF RATING AGENCIES EFFORTS: RUSSIAN EXPERIENCE

13.01.2013 - 20.01.2013 The Seventh Bachelier Colloquium on Stochastic Calculus and Finance, Франция, Metabief
Библиографические карточки доклада на конференции: The multiplication of the credit rating agencies efforts under IRB Approach

18.02.2013 - 22.02.2013 Второй Российский экономический конгресс, Российская Федерация, Суздаль 
Библиографические карточки доклада на конференции: Моделирование вероятности дефолта российских банков

3.04.2012 - 5.04.2012 XIII Апрельская международная научная конференция по проблемам развития экономики и общества, Российская Федерация, Москва

1.11.2012 - 3.11.2012 EBES Warsaw Conference, Польша, Варшава
Библиографические карточки доклада на конференции: Modeling bank’s probability of default: Russian experience Arm's Length Method for Comparing Rating Scales

17.03.2011 - 18.03.2011 Risk management in the Russian Banking Sector, Российская Федерация, Москва
Библиографические карточки доклада на конференции: Система моделей рейтингов в рамках IRB-подхода

22.04.2011 - 23.04.2011 I Международный Конгресс по контроллингу, Российская Федерация, г. Москва
Библиографические карточки доклада на конференции: Система рейтингов для контроллинга рисков

13.10.2011 - 15.10.2011 Конференция EBES 2011 Conference (Zagreb), Хорватия, Загреб
Библиографические карточки доклада на конференции: Comparison of corporate credit ratings in developing markets Modeling sovereign ratings: estimators, models, forecasting

1.06.2011 - 3.06.2011 EBES Conference - Istanbul, Турция, Стамбул
Библиографические карточки доклада на конференции: Comparison of bank credit ratings assigned by rating agencies

5.04.2011 - 7.04.2011 XII Международная научная конференция по проблемам развития экономики и общества, Российская Федерация, Москва
Библиографические карточки доклада на конференции: Сопоставление рейтинговых шкал агентств на основе эконометрического анализа российских банков

Areas of expertise

EMPIRICAL RESEARCH IN BANKING
CONTROLLING

Ratings and rating systems

Biography

  • 1993 - 2008 «Gazprombank» (OJSC),head of a department.
  • 1971 - 1993 "Delta" (GNPP),  head of laboratory

Papers

  • Карминский А.М. Информационно-аналитическая составляющая бизнеса: методология и практика: Монография. М.: Финансы и статистика. 2007.  240 с.

  • Контроллинг: Учебник / Под ред. А.М. Карминского, С.Г. Фалько – М.: Финансы и статистика. 2006. 336с.

  • Карминский А.М., Черников Б.В. Информационные системы в экономике: методология создания: Учеб. пособие. М.: Финансы и статистика. 2006.  Часть 1. 336с.

  • Карминский А.М., Черников Б.В. Информационные системы в экономике: практика использования: Учеб. пособие. М.: Финансы и статистика. 2006. Часть 2.  240с.

  • Карминский А.М., Пересецкий А.А., Петров А.Е.. Рейтинги в экономике: методология и практика: Монография. / Под ред. А.М. Карминского. М.: Финансы и статистика. 2005. 240с.

  • Карминский А.М., Пересецкий А.А. Модели рейтингов международных агентств // Прикладная эконометрика. 2007.  №1.  С.1-17

  • Карминский А.М. Методические особенности оценки экономической эффективности управленческих информационных систем // Экономические науки. 2007. №11.  С. 161-164

  • Карминский А.М. Вопросы информационно-аналитического сопровождения корпоративного управления // Экономические науки. 2007. №12.  С. 126-130

  • Карминский А.М., Пересецкий А.А., Малахова И.В., Миненкова Е.С. Модели рейтингов банков агентства Moody’s // Управление финансовыми рисками. 2007. №2. С.96-109

  • Карминский А.М., Пересецкий А.А., Рыжов А.В. Модели рейтингов банков для риск-менеджмента // Управление финансовыми рисками. 2006. № 4. С.362-373

  • Карминский А.М., Астрелина В.В. Рейтинги в экономике как мера финансового риска // Управление финансовыми рисками. 2006. №1(5). C.2-15

  • Карминский А.М., Пересецкий А.А., ван Суст А.Г.О. Модели рейтингов банков // Экономика и математические методы. 2004. №4. С.10-25

  • Карминский А.М., Шумаков П.В. Информационно-аналитическое обеспечение принятия решений в банке // Контроллинг.  2004. №2. С.50-58   

  • Карминский А.М., Петров А.Е. Рейтинги динамической финансовой стабильности для банков и предприятий // Контроллинг.  2004.  №3.  С.26-39


Additional information

·                     member of the Russian Academy of Science and the Academy of Technological Sciences of the Russian Federation

·                     author of more than 200 publications, including 24 books

·                     member of the board of the Russian Association of Controllers

·                     deputy editor-in-chief of the ‘ Controlling’ journal

Timetable for today

Full timetable

The School of Finance with the Financial Innovation and Risk Management Center Took Part in the V Russian Economic Congress

The School of Finance with the Financial Innovation and Risk Management Center took an active part in the V Russian Economic Congress (REC2023), which was held from September 11 to 15, 2023 in Yekaterinburg.

The School of Finance Celebrated the 30th Anniversary of the Higher School of Economics

On November 24th, the School of Finance staff and experts got together in anticipation of the Higher School of Economics 30th anniversary. Summing up the results of the past period, the head of the School of Finance, Doctor of Economics, tenured professor Irina Ivashkovskaya stated that during this period the School of Finance managed to make a qualitative growth in many areas:

Second monograph "Risk Assessment and Financial Regulation in Emerging Markets' Banking: Trends and Prospects" for Springer co-authored by professor of the School of Finance Alexander Karminsky

Model of Predator-Prey Relationship Helps Predict Spread of COVID-19

Researchers from the HSE Faculty of Economic Sciences have proposed a mathematical model that describes the course of the COVID-19 pandemic, taking into account the restrictions applied in different countries. The model will help governments make reasonable and timely decisions on introducing or lifting restrictions. The paper was published in Eurasian Economic Review.

Professor of the School of Finance Karminsky Alexander was awarded the "Professor of the Year

Alexander Karminsky and Andrei Melville Receive Awards of Moscow Professorial Forum

Both awards were conferred during the recent Professorial forum, which was held in Moscow on November 16-19.

Efficient, but Not without Help

How Russian state-owned banks differ from their foreign counterparts

Summarizing Section E. Financial Institutions, Markets and Payment Systems

Authors of various research papers presented their topics where discussants provided feedback - 20th April International Academic Conference on Economic and Social Development

6th annual PhD workshop "Financial Markets and Corporate Strategies: Comparative Studies"

The main objective of the workshop was to develop academic networks and stimulate exchange between young researchers. PhD students were provided 20 minutes for presentations and received detailed feedback from senior academics in the field. The best papers from the workshop will be published in academic journal ‘Journal of Corporate Finance Research’

HSE Staff Members Receive University Medals and Notes of Acknowledgement

On October 22, some university staff members were awarded HSE medals and notes of acknowledgement from the Rector.

HSE Staff Members Awarded Status of Tenured Professor

On June 22, several HSE lecturers and staff members were awarded the status of Tenured Professor at a meeting of HSE Academic Council. Sixteen HSE staff members became Distinguished Professors at the Higher School of Economics for the first time.

The new book of Prof.A. Karminsky and A. Polozov - Handbook of Ratings. Approaches to Ratings in the Economy, Sport, and Society - has just been published by Springer

Professor of the HSE, Academic Department of Finance, Alexander Karminsky’s book Handbook of Ratings. Approaches to Ratings in the Economy, Sport, and Society has just been published by Springer International Publishing AG Switzerland

Lessons in Finance at HSE's April Conference

On April 9th and 10th, HSE’s School of Finance is organising several new platforms of discussion as part of the XVI April International Academic Conference. Topics will include measuring and assessing companies’ intellectual capital, research on corporate financial decisions, and for Russian and foreign post-graduate students, the second annual PhD seminar on financial markets and corporate financial policy will take place.