Yury Dranev

Associate Professor:Faculty of Economic Sciences / School of Finance
Associate Professor:Institute for Statistical Studies and Economics of Knowledge / Department of Educational Programmes
Head:Institute for Statistical Studies and Economics of Knowledge / Quantitative Modelling Unit

Yury Dranev has been at HSE since 2009.

Education and Degrees

2004
PhD
University of Ottawa
1996
Diploma
Lomonosov Moscow State University

Professional Interests

STI foresight financial innovations risk-management intellectual capital asset pricing real options

Responsibilities

Planning and organization of activities of the department; managing the department's operations; increasing performance of the department; promoting the results of research projects in mass media and at the external events.

Student Term / Thesis Papers

Bachelor
K. Frolova «The Impact of Mergers and Acquisitions in FinTech Industry on Bidder's Share Value». Faculty of Economic Sciences, 2017
A. Kozlovskaia «The Valuation of Market Risks in Engineering Companies». Faculty of Economic Sciences, 2017
V. Voitelev «The Valuation of Market Risks in IT Companies». Faculty of Economic Sciences, 2017
R. Sayakhov «Currency Risks in Russian Companies: the Impact on Efficiency». Faculty of Economic Sciences, 2017
A. Safin «Influence of Innovations on the level of the risk of the Technology Companies in the US». Faculty of Economic Sciences, 2016
A. Levin «The Impact of the Research and Development Expenditures of the Firm on its Equity Cost of Capital». Faculty of Economic Sciences, 2016
N. Naumov «The Impact of Exchange Rate Risk on the Share Returns of Oil&Gas Companies of the World». Faculty of Economic Sciences, 2016
V. Efimenco «The Influence of R&D Investments on Firm's Effectiveness: Developing and Developed Market Review». Faculty of Economic Sciences, 2016
E. Gatina «Influence of Investor Sentiment on IPO Underpricing in High-tech Firms in US Hot Markets». Faculty of Economic Sciences, 2016
Yu. Gareeva «The influence of financial leverage on the cost of equity at emerging markets». Faculty of Economic Sciences, 2014
V. Kovalev «Effect of Growth Factors on Cost of Capital in Emerging Markets». Faculty of Economic Sciences, 2014
P. Demidov «The influence of exchange rate risks on the cost of capital in developing markets». Faculty of Economic Sciences, 2014
M. Mal`ceva «The Analysis of IPO Efficiency on the Basis of Emerging Countries». Faculty of Economic Sciences, 2014
A. Kozlova «Influence of Investment on Cost of Capital on Emerging Markets». Faculty of Economic Sciences, 2014
A. Kucherov «he Influence of the Company's Size on the Cost of Equity: Evidence from Developing Markets». Faculty of Economic Sciences, 2014
D. Bulgakova «The Influence of Buyback on the Value of the Firm at the Emerging Markets». Faculty of Economic Sciences, 2014
Master
A. Izosimova «Adoption of Financial Technologies (Fintech): The Case of Cryptocurrencies». Institute for Statistical Studies and Economics of Knowledge, 2017
M. Chernotalova «Impact of Currency Risk on Cost of Equity». International College of Economics and Finance, 2017
T. Kwon «The Impact of New Technologies on R&D and Innovation in an Agriculture». Institute for Statistical Studies and Economics of Knowledge, 2017
E. Ganeeva «Assessment of Blockchain Technology Impact on Russian Market». Institute for Statistical Studies and Economics of Knowledge, 2017
D. Ganin «State Ownership Factor in the Cost of Equity Estimation». International College of Economics and Finance, 2017
Y. Gareeva «The Influence of the Relational Capital as a Component of Intellectual Capital on the Cost of Equity». Faculty of Economic Sciences, 2016
A. Kozlova «The Influence of the Human Capital as a Component of Intellectual Capital on the Cost of Equity». Faculty of Economic Sciences, 2016
A. Kucherov «The Influence of the Structure Capital as a Component of Intellectual Capital on the Cost of Equity». Faculty of Economic Sciences, 2016
V. Sartakov «Revealing Diversity and Specialization in Scientific Publications by Natural Language Processing Methods». Institute for Statistical Studies and Economics of Knowledge, 2016
A. Zubrilina «Determinants of Currency Risk Exposure in Emerging Capital Markets». Faculty of Economic Sciences, 2016
A. Kalandzhan «Influence of Information Asymmetry on Cost of Equity Capital of the Russian Firms». Faculty of Economic Sciences, 2016
A. Osmanova «Impact of Growth Options on IPO Performance». Faculty of Economic Sciences, 2016
E. Zaichik «Risk-Management for Non-Financial Companies in Developing Markets». Faculty of Economic Sciences, 2016
D. Dolgii «Risk-Management for Non-Financial Companies in Developing Markets». Faculty of Economic Sciences, 2016
L. Samokhina «Internet of Things Technology’s Impact on Retail Market». Institute for Statistical Studies and Economics of Knowledge, 2016
I. Kuchin «Application of Intertemporal Asset Pricing Models to Estimation of Costs of Equity in the Russian Market». Faculty of Economic Sciences, 2014

Full list of of student term / thesis papers

Courses (2017/2018)

Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 3 module)Eng
Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; programme "Governance of Science, Technology and Innovation"; 1 year, 4 module)Eng
Innovation Strategies in Fintech (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; programme "Governance of Science, Technology and Innovation"; 2 year, 2 module)Eng
Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; programme "Governance of Science, Technology and Innovation"; 1 year, 3 module)Eng
Research Seminar "Economics and Finance of Firm" (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics"; 4 year, 1-3 module)Rus
Past Courses

Courses (2016/2017)

Corporate Finance-2 (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1, 2 module)Eng
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 3 module)Eng
Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; programme "Governance of Science, Technology and Innovation"; 1 year, 4 module)Eng
Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; programme "Governance of Science, Technology and Innovation"; 2 year, 1 module)Eng
Research seminar Corporate Management and Behavioral Finance (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1-4 module)Eng
Research Seminar "Workshop on Corporate Finance" (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics"; 4 year, 1-3 module)Rus

Courses (2015/2016)

Corporate Finance (Advanced Level – Corporate Finance-2) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1, 2 module)Eng
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 2 year, 1 module)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 4 module)Eng
Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; programme "Governance of Science, Technology and Innovation"; 2 year, 1 module)Eng
Research Seminar "Strategic Corporate Finance" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1-3 module)Rus
Research Seminar "Workshop on Corporate Finance" (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics"; 4 year, 1-3 module)Rus

Courses (2014/2015)

Advanced Business Valuation (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 3, 4 module)Eng
Advanced Corporate Finance (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1, 2 module)Eng
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 4 module)Eng
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 2 year, 1 module)Rus
Financial Economics (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics and Statistics"; spec. "Экономика и статистика"; 3 year, 1, 2 module)Rus
Financial Economics (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics"; 3 year, 1, 2 module)Rus
Financial Economics (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics"; 3 year, 1, 2 module)Eng
Financial Economics (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics and Statistics"; spec. "Экономика и статистика"; 3 year, 1, 2 module)Eng
Presenting of Graduate Thesis (Master's Thesis) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 3, 4 module)Rus
Research Seminar "Corporate Financial Policy" (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 1 year, 1-4 module)Rus
Research Seminar "Empirical Corporate Finance" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1-4 module)Rus
Research Seminar "Strategic Financial Management in Knowledge Economy" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1-3 module)Rus
Research Seminar "Workshop on Corporate Finance" (Bachelor’s programme; Faculty of Economic Sciences; programme "Economics"; 4 year, 1-3 module)Rus
Short Term Financial Policy (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 1 year, 4 module)Rus

Courses (2013/2014)

Corporate Finance (Advanced Level – Corporate Finance-2) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1-3 module)Eng
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 2 year, 1 module)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 3 module)Eng
Corporate Valuation (Advanced Level – Corporate Valuation-2) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 3, 4 module)Eng
Research Seminar "Empirical Corporate Finance" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1-4 module)Rus
Research Seminar "Strategic Financial Management in Knowledge Economy" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1-3 module)Rus
Research Seminar "Workshop on Corporate Finance" (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1-3 module)Rus

Courses (2012/2013)

Business Valuation (Advanced Level – Business Valuation-2) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 3, 4 module)Eng
Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 3, 4 module)Rus
Corporate Finance (Advanced Level – Corporate Finance-2) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1-3 module)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 2 year, 1 module)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1, 2 module)Rus
Research Seminar "Empirical Corporate Finance" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1-4 module)Rus
Research Seminar "Strategic Financial Management in Knowledge Economy" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1-3 module)Rus
Research Workshop "Applied corporate finance" (Bachelor’s programme; Faculty of Economic Sciences; spec. "Corporate Finance"; 4 year, 1, 2 module)Eng

Courses (2011/2012)

Corporate Finance (Advanced Level – Corporate Finance-2) (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 2 module)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 2 year, 2 module)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 2 module)Rus
Research Seminar "Empirical Corporate Finance" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 2, 4 module)Rus
Research Seminar "Strategic Financial Management in Knowledge Economy" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 2, 4 module)Rus

Courses (2010/2011)

Corporate Finance 2 (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1 semester)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Corporate Finance"; 2 year, 1 semester)Rus
Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1 semester)Rus
Research Seminar "Empirical Corporate Finance" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 1 year, 1, 2 semester)Rus
Research Seminar "Strategic Financial Management in Knowledge Economy" (Master’s programme; Faculty of Economic Sciences; programme "Strategic Corporate Finance"; 2 year, 1, 2 semester)Rus

Publications

2017³

Article Saritas O., Dranev Y., Chulok A.A. A Dynamic and Adaptive Scenario Approach for Formulating Science and Technology Policy // Foresight. 2017. Vol. 19. No. 5. P. 473-490. doi
Article Dranev Y., Levin A., Kuchin I. R&D Effects, Risks and Strategic Decisions: Evidence from Listed Firms in R&D-intensive Countries // Foresight. 2017. Vol. 19. No. 6 (in print)
Book Гохберг Л. М., Соколов А. В., Чулок А. А., Радомирова Я. Я., Кузнецова Т. Е., Дранев Ю. Я., Назаренко А. А., Мильшина Ю. В., Вишневский К. О., Майорова О. А. Глобальные тренды и перспективы научно-технологического развития Российской Федерации: краткие тезисы: доклад к XVIII Апр. междунар. науч. конф. по проблемам развития экономики и общества, Москва, 11–14 апр. 2017 г. М. : Издательский дом НИУ ВШЭ, 2017.

2015¹

Article Dranev Yu., Chulok A. Assessing interactions of technologies and markets for technology road mapping // Technological Forecasting and Social Change. 2015. Vol. 101. P. 320-327. doi

2014²

Preprint Dranev Y., Babuskin M. Asymmetric Exchange-Rate Exposure in BRIC Countries / NRU Higher School of Economics. Series FE "Financial Economics". 2014.
Article Чиркова Е. В., Мороз И. В., Дранев Ю. Я. Влияние конфликта акционеров на рыночную стоимость компании на примере ОАО «Вымпелком» // Корпоративные финансы. 2014. Т. 4. № 32. С. 101-127.

2013²

Preprint Dranev Y., Fomkina S. Colog Asset Pricing, Evidence from Emerging Markets / NRU Higher School of Economics. Series FE "Financial Economics". 2013. No. WP BRP 26/FE/2013 .
Article Дранев Ю. Я. Валютный риск и теория ценообразования активов // Корпоративные финансы. 2013. Т. 28. № 4. С. 114-124.

2012⁵

Preprint Yury Dranev, Sofya Fomkina. An asymmetric approach to the cost of equity estimation: empirical evidence from Russia / NRU Higher School of Economics. Series FE "Financial Economics". 2012. No. 12/FE/2012.
Article Дранев Юрий Яковлевич CAPM-Like Model and the Special Form of the Utility Function // Корпоративные финансы. 2012. № 1. С. 33-36.
Article Dranev Y. CAPM-Like Model and the Special Form of the Utility Function // EJournal of Corporate Finance. 2012. Vol. 21. No. 1. P. 33-36.
Preprint Dranev Y., Nurdinova Y., Redkin V., Fomkina S. Cost of Equity and Risk: Empirical Evidence from Russia / Social Science Research Network. Series "SSRN Working Paper Series". 2012. No. 2107736.
Article Дранев Ю. Я., Нурдинова Я. С., Редькин В. А., Фомкина С. А. Модели оценки затрат на собственный капитал компаний на развивающихся рынках капитала // Корпоративные финансы. 2012. № 2. С. 107-117.

2011¹

Article Дранев Ю. Я. Об использовании метода реальных опционов в электроэнергетике // Корпоративные финансы. 2011. № 1. С. 129-135.

2010²

Article Дранев Ю. Я., Ананьев Н. С. Влияние изменения индикаторов фондового рынка на привлечение средств в российские паевые фонды акций // Корпоративные финансы. 2010. № 2. С. 5-15.
Article Дранев Ю. Я. О риск-нейтральном подходе ценообразования реальных опционов // Корпоративные финансы. 2010. № 1. С. 62-73.

2004¹

Preprint Dranev Y., Dabrowski A. R. Jump-diffusion markets: equivalent measures and optimality / Laboratory for Research in Statistics and Probability, Carleton University. Series "Technical report series". 2004. No. 405.

Conferences

2016
World Finance Conference (Нью-Йорк). Presentation: COLOG Asset Pricing
2014
V World Finance Conference (Венеция). Presentation: Asymmetric exchange-rate exposure in BRIC countries
13th EACES Biennial Conference (Будапешт). Presentation: Differences in Exchange Rate Exposures in BRIC Markets
2013
9 th EBES Conference (Рим). Presentation: Entropic Risk Measures and Cost of Equity: Empirical Evidence from Russia
XIV Апрельская Международная научная конференция (Моска). Presentation: Энтропийные меры риска и затраты на капитал: эмпирические свидетельства из России

FRM

Financial Risk Manager — Certified by the Global Association of Risk Professionals

Timetable for today

Full timetable

Dec

2016

Kaja Ciglic: “We Can Be More Secure, But We Will Not Be Totally Secure”

On 9 December, 2016 HSE ISSEK in partnership with Microsoft organised seminar “Cybersecurity. The role of government; business and society”. Kaja Ciglic, Sr. Cybersecurity Strategist, Microsoft, discussed geopolitical trends of global cybersecurity and various initiatives in this space proposed by different stakeholders with the students and faculty.

Dec