Yury Dranev
- Leading Research Fellow, Head:Institute for Statistical Studies and Economics of Knowledge / Quantitative Modelling Unit
- Associate Professor:Faculty of Economic Sciences / School of Finance
- Associate Professor:Institute for Statistical Studies and Economics of Knowledge / Department of Educational Programmes
- Yury Dranev has been at HSE University since 2009.
Education and Degrees
- 2004
PhD in Financial Mathematics
University of Ottawa
Thesis Title: Equivalent Martingale Measures and Option Pricing in Jump-diffusion markets - 1996
Degree in Mathematics
Lomonosov Moscow State University, mathematics
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
R. Sayakhov, Currency Risks in Russian Companies: the Impact on Efficiency. Faculty of Economic Sciences, 2017
V. Voitelev, The Valuation of Market Risks in IT Companies. Faculty of Economic Sciences, 2017
A. Kozlovskaia, The Valuation of Market Risks in Engineering Companies. Faculty of Economic Sciences, 2017
K. Frolova, The Impact of Mergers and Acquisitions in FinTech Industry on Bidder's Share Value. Faculty of Economic Sciences, 2017
E. Gatina, Influence of Investor Sentiment on IPO Underpricing in High-tech Firms in US Hot Markets. Faculty of Economic Sciences, 2016
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
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
Yu. Gareeva, The influence of financial leverage on the cost of equity at 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
V. Kovalev, Effect of Growth Factors on Cost of Capital in Emerging Markets. Faculty of Economic Sciences, 2014
- Master
M. Gupta, Impact of Ecological Trends on Discrete Manufacturing. Institute for Statistical Studies and Economics of Knowledge, 2020
M. Micaroni, Sustainability and Green Finance: addressing SDGs through Digital Finance and Fintech Solutions in EU. Institute for Statistical Studies and Economics of Knowledge, 2020
I. Mikhaleva, Estimation of Equity Risk Premium Using Models Combination and Regime-Dependent Models. Faculty of Economic Sciences, 2020
G. Baranovskii, Green ETFs: Does Addition of Green Bonds in Portfolio Affect Pricing?. Institute for Statistical Studies and Economics of Knowledge, 2020
A. Kotov, Relation of Industry Technological Complexity to Government Expenditure Effects on Economic Growth. Institute for Statistical Studies and Economics of Knowledge, 2019
M. Zhelonkina, Determinants of High-Tech Company's Stock Volatility. Faculty of Economic Sciences, 2019
N. Polinov, Effectiveness of Investing in US Mutual Funds. Faculty of Economic Sciences, 2019
M. Khodan, Ключевые тренды в развитии потребительских финансовых инноваций. Institute for Statistical Studies and Economics of Knowledge, 2019
K. Frolova, Assessment of Efficiency of M&A Targeting Technology. Faculty of Economic Sciences, 2019
K. Shpak, Efficient ICO Determinants. Faculty of Economic Sciences, 2019
M. Ryzhkova, The Impact of R&D Investments on The Cost of Equity of Company. Faculty of Economic Sciences, 2018
D. Morozova, Impact of R&D on Idiosyncratic Risk of Non-Financial Companies in Emerging Markets. Faculty of Economic Sciences, 2018
A. Chekalin, The Impact of Regulations on ICO Performance. Institute for Statistical Studies and Economics of Knowledge, 2018
N. Naumov, TM&A and Firm's Performance in Developed and Emerging Markets. Faculty of Economic Sciences, 2018
L. Konovalova, The Impact of Mobile Money Technologies on Financial Inclusion in Sub-Saharan Africa. Institute for Statistical Studies and Economics of Knowledge, 2018
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
D. Ganin, State Ownership Factor in the Cost of Equity Estimation. International College of Economics and Finance, 2017
E. Ganeeva, Assessment of Blockchain Technology Impact on Russian Market. Institute for Statistical Studies and Economics of Knowledge, 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
V. Sartakov, Revealing Diversity and Specialization in Scientific Publications by Natural Language Processing Methods. Institute for Statistical Studies and Economics of Knowledge, 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
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
L. Samokhina, Internet of Things Technology’s Impact on Retail Market. Institute for Statistical Studies and Economics of Knowledge, 2016
D. Dolgii, Risk-Management for Non-Financial Companies in Developing Markets. Faculty of Economic Sciences, 2016
E. Zaichik, Risk-Management for Non-Financial Companies in Developing Markets. Faculty of Economic Sciences, 2016
A. Osmanova, Impact of Growth Options on IPO Performance. 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. Zubrilina, Determinants of Currency Risk Exposure in Emerging Capital Markets. Faculty of Economic Sciences, 2016
I. Kuchin, Application of Intertemporal Asset Pricing Models to Estimation of Costs of Equity in the Russian Market. Faculty of Economic Sciences, 2014
Courses (2020/2021)
- Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; 1 year, 4 module)Eng
- Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 4 module)Eng
- Project Seminar "From Digital Trends to Strategy Development" (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 2 year, 1, 2 module)Eng
- Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 2 year, 1, 2 module)Eng
- Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 3 module)Eng
- Risk Management (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
- Past Courses
Courses (2019/2020)
- Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; 1 year, 4 module)Eng
- Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 4 module)Eng
- Project Seminar "Innovation projects: from an idea to a business" (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 2 year, 1, 2 module)Eng
- Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 3 module)Eng
- Risk Management (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
Courses (2018/2019)
- Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; 1 year, 4 module)Eng
- Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 4 module)Eng
- Project Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 2 year, 1, 2 module)Eng
- Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 3 module)Eng
- Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 2 year, 1, 2 module)Eng
- Research Seminar "Empirical Corporate Finance 2" (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
Courses (2017/2018)
- Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 4 module)Eng
- Research Seminar (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 1 year, 3 module)Eng
Courses (2015/2016)
- Corporate Risk Management (Master’s programme; Faculty of Economic Sciences; 2 year, 1 module)Rus
- Finance of Innovation (Master’s programme; Institute for Statistical Studies and Economics of Knowledge; 2 year, 1 module)Eng
- Research Seminar "Economics and Finance of Firm" (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1-3 module)Rus
- Research Seminar "Strategic Corporate Finance" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-3 module)Rus
Academic Papers5
- Article Dranev Y. CAPM-Like Model and the Special Form of the Utility Function // Journal of Corporate Finance Research. 2012. Vol. 21. No. 1. P. 33-36.
- 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.
- Article Дранев Ю. Я. Об использовании метода реальных опционов в электроэнергетике // Корпоративные финансы. 2011. № 1. С. 129-135.
- 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.
Working papers1
Conferences
- 2019Europe 4.0: Sharing the New Economy (Vienna). Presentation: Blockchain Technology: Applications in the European Financial Sector
GSOM Emerging Markets Conference 2019 (Санкт-Петербург). Presentation: Mergers & Acquisitions and Technological Efficiency: the Empirical View
- 2018XIX Апрельская международная научная конференция по проблемам развития экономики и общества (Москва). Presentation: Do network effects explain the patterns of cryptocurrencies adoption? Evidence from Bitcoin and Etherium Markets
- DEGIT XXIII (Москва). Presentation: A version of multisector DSGE model for Russian economy
- 2016World Finance Conference (Нью-Йорк). Presentation: COLOG Asset Pricing
12th EIASM INTERDISCIPLINARY WORKSHOP on “INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION” (Санкт-Петербург). Presentation: R&D Expenditures and Cross Section of Stock Returns in R&D Intensive Markets
- 2014V 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
- 20139 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
'The impact of innovations on the company value: challenges for a CFO'
School of Finance holds the round table on the theme "The impact of innovations on the company value: challenges for a CFO" at the Russian CFO Summit on the 23-24th of October.
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’
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.
HSE Hosted a Round Table Discussion of the Role of Financial Technologies in Development of the Financial Sector
On 13 December, the Higher School of Economics jointly with the Bank of Russia hosted a round table discussion “Financial technologies and the future of the banking sector”. Vadim Kalukhov, director of the RF Central Bank’s Financial Technologies, Projects, and Process Organisation Department, made a presentation on major relevant trends and the Bank of Russia’s key projects.
