Irina Ivashkovskaya
- Head of the School, Professor:Faculty of Economic Sciences / School of Finance
- Laboratory Head:Faculty of Economic Sciences / Corporate Finance Center
- Programme Academic Supervisor:Corporate Finance, Master of Business Analytics
- Tenured Professor (2011)
- Member of the HSE Academic Council
- Irina Ivashkovskaya has been at HSE University since 2001.
Education, Degrees and Academic Titles
- 2011
Doctor of Sciences* in Finance, Monetary Circulation and Credit
Financial University under the Government of the Russian Federation
Thesis Title: Integrated Value Based Management of a Company - 1993Associate Professor
- 1980
Candidate of Sciences* (PhD) in International Economics
Lomonosov Moscow State University - 1975
Degree
Lomonosov Moscow State 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.
A post-doctoral degree called Doctor of Sciences is given to reflect second advanced research qualifications or higher doctorates in ISCED 2011.
Internships
- London School of Economics and Political Science (2000, 2004,2005);
- University of Paris 1 Pantheon-Sorbonne; Paris 12 Val de Marne University;
- University of Amsterdam, Netherlands (2006, 2011)
- London City university (1995)
Areas of Professional Interests
- Corporate finance
- Valuation
- Value based management in knowledge economy
- Strategic Corporate finance
International Projects
- 2000-2003 Lecturer, vice- head of the Russian-Canadian project in corporate governance (York university, Schulich Business School, Canada)
- 2000-2001 Leading lecturer and local consultant in two cycles of the World Bank Institute programme ‘Corporate governance and business ethics', Vienne, Austria
- 1993-2001 Leading lecturer and coordinator of a 3-week module course in Accounting and Financial Analysis in the World Bank Institute programme ‘Introduction to Market Economy'. Read courses of lectures and prepared educational materials and examination tests in 13 World Bank Institute Center programmes, Moscow, Tashkent and Prague
- 1995 Leading lecturer in the Accounting and Corporate Finance programme of the World Bank Institute, Beijing (China)
- 2000 Leading lecturer in the ‘Corporate Finance' programme of the World Bank Institute for the members of the central economic agencies of Asian CIS in Bishkek (Kirgizstan), and Alma Aty, Kazakhstan
- 1999 Local consultant in the World Bank Institute programme ‘Distant Learning in Corporate Management', Austria
- 1999 Leading lecturer and local consultant in the World Bank Institute programme ‘Corporate Management', Austria
- 1997 Co-director and lecturer in the World Bank Institute programme ‘Financial and Industrial Corporate Groups in Transition Economies', Moscow - Vienne
- 1996 Co-director and lecturer in the World Bank Institute programme ‘Transformation of enterprises under privatization', Washington DC, USA
- 1996 Co-director and lecturer in the World Bank Institute programme ‘Private sector development in transition economies', Bishkek (Kirgizstan)
- 1996 Co-director and lecturer in the World Bank Institute programme ‘International standards of financial accounting and financial analysis', Bishkek (Kirgizstan)
- Lectures on company value management in the World Bank programme
Courses (2023/2024)
- Corporate Finance (Advanced Level) (Mago-Lego; 1, 2 module)Eng
Corporate Finance (Advanced Level) (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 1, 2 module)Eng
- Past Courses
Courses (2022/2023)
Corporate Finance (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 2, 3 module)Eng
Corporate Finance (Advanced Level) (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 1, 2 module)Eng
Mentor's Seminar (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 1-4 module)Rus
- Mentor's Seminar "Research Methods in Finance" (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Eng
Principles of Corporate Finance (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 1, 2 module)Rus
Research Seminar "Research Methods in Corporate Finance" (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 1-3 module)Rus
- Research Seminar "Strategic Finance Company" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-4 module)Rus
Valuation and Value Based Management (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 3, 4 module)Eng
Value Based Management (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 3 module)Rus
Courses (2021/2022)
- Advanced Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 1, 2 module)Eng
- Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 2, 3 module)Eng
Mentor's seminar "Empirical research in Finance" (Master’s programme; Faculty of Economic Sciences; field of study "38.04.08. Финансы и кредит", field of study "38.04.08. Финансы и кредит"; 1 year, 4 module)Eng
- Principles of Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 1-3 module)Rus
- Research Project Seminar "Strategic Finance Company" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-4 module)Rus
- Research Seminar 'Corporate Finance' (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Valuation and Value Based Management (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Value Based Management (Master’s programme; Faculty of Economic Sciences; 1 year, 4 module)Rus
Courses (2020/2021)
- Corporate Finance-2 (Master’s programme; Faculty of Economic Sciences; 1 year, 1, 2 module)Eng
- Principles of Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 1-3 module)Rus
- Research Project Seminar (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
- Structured Financing (Master’s programme; Faculty of Economic Sciences; 2 year, 2 module)Rus
- Value Based Management (Master’s programme; Faculty of Economic Sciences; 1 year, 4 module)Rus
Courses (2019/2020)
- Corporate Finance-2 (Master’s programme; Faculty of Economic Sciences; 1 year, 1, 2 module)Eng
- Modern research in corporate finance (Postgraduate course’s programme; 2 year, 1 semester)Rus
- Principles of Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 1-3 module)Rus
- Research Seminar "Behavioral Finance and Corporate Governance" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-3 module)Eng
- Research Seminar 'Corporate Finance' (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Research Seminar "Strategic Finance Company" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-4 module)Rus
- Structured Financing (Master’s programme; Faculty of Economic Sciences; 2 year, 2 module)Rus
- Value Based Management (Master’s programme; Faculty of Economic Sciences; 1 year, 3 module)Rus
Courses (2018/2019)
- Advanced Business Valuation (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Rus
- Corporate Finance-2 (Master’s programme; Faculty of Economic Sciences; 1 year, 1, 2 module)Eng
- Principles of Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 1-3 module)Rus
- Research Seminar 'Corporate Finance' (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Research Seminar "Empirical Corporate Finance 2" (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Value Based Management (Master’s programme; Faculty of Economic Sciences; 1 year, 3 module)Rus
Editorial board membership
2008: Editor-in-chief, Корпоративные финансы (Journal of Corporate Finance Research).
Dissertation for a degree of Doctor of Science
I. Ivashkovskaya Система интегрированного управления стоимостью компании
Books8
- Book Ivashkovskaya I., Grigorieva S. Strategic Deals in Emerging Capital Markets. Are There Efficiency Gains for Firms in BRIC Countries? / Ed. by I. Ivashkovskaya, S. Grigorieva, E. Nivorozhkin. Switzerland : Springer, 2020. doi
- Book Ivashkovskaya I. Strategic Financial Decisions of Companies in Emerging Capital Markets (in Russian) / Ed. by I. Ivashkovskaya. M. : KnoRus, 2019.
- Book Ivashkovskaya I., Stepanova A. N., Kokoreva M. S. Corporate Financial Architecture: Empirical studies in developed and emerging markets (in Russian) / Ed. by I. Ivashkovskaya. M. : INFRA-M, 2013.
- Book Ivashkovskaya I. Corporate Financial Decisions. An Empirical Analysis of Russian Companies (in Russian) / Ed. by I. Ivashkovskaya. M. : INFRA-M, 2011.
- Book Ivashkovskaya I. Modeling Company’s Value. Strategic Responsibility of Boards of Directors (in Russian). M. : INFRA-M, 2009.
- Book Ivashkovskaya I. Corporate Governance and Sustainable Business Development: the Strategic Role of Boards of Directors (Scientific editing). M. : Europe, 2008.
- Book Ivashkovskaya I. Measuring Corporate Strategies. Stakeholder Approach (in Russian). M. : INFRA-M, 2008.
- Book Ivashkovskaya I. Technology Transfer: Dependency or Cooperation?. M. : Moscow University Press, 1991.
Articles and book chapters37
- Article Ilya Ivaninskiy, Ivashkovskaya I. Are blockchain-based digital transformation and ecosystem-based business models mutually reinforcing? The principal-agent conflict perspective // Eurasian Business Review. 2022. Vol. 12. No. 4. P. 643-670. doi
- Chapter Ivashkovskaya I., Adamu M. U. Intellectual Capital and Corporate Risk Disclosure in the Nigerian Banking Sector, in: Eurasian Business and Economics Perspectives. Eurasian Studies in Business and Economics Vol. 23. Springer Publishing Company, 2022. doi doi
- Article Makeeva E. Y., Ivashkovskaya I., Ruzhanskaya L., Popov K. The Relationship between Regional Development and Corporate Ratings of Russian Companies // Economy of Region. 2022. Vol. 17. No. 1. P. 86-102.
- Article Ivashkovskaya I., Adamu M. U. Corporate Governance and Risk Disclosure in Emerging Countries // Journal of Corporate Finance Research. 2021. Vol. 4. No. 15. P. 5-17. doi
- Article Ivaninskiy I., Ivashkovskaya I., McCahery J. A. Does Digitalization Mitigate or Intensify the Principal-Agent Conflict in a Firm? // Journal of Management and Governance. 2021. No. july. P. 1-31. doi
- Chapter Ivashkovskaya I., Scherbakov D., Yakovenko P. Corporate international diversification and performance – an economic profit viewpoint: evidence from BRIC companies, in: Strategic Deals in Emerging Capital Markets. Are There Efficiency Gains for Firms in BRIC Countries? / Ed. by I. Ivashkovskaya, S. Grigorieva, E. Nivorozhkin. Switzerland : Springer, 2020. doi Ch. 10. doi (in press)
- Article Ivashkovskaya I., Mikhaylova A. Do Investors Pay Yield Premiums On Green Bonds? // Journal of Corporate Finance Research. 2020. Vol. 14. No. 2. P. 7-21. doi
- Article Anilov A., Ivashkovskaya I. Do boards of directors affect CEO behavior? Evidence from payout decisions // Journal of Management and Governance. 2020. No. 24. P. 989-1017. doi
- Chapter Ivashkovskaya I., Chvyrova E. What Drives the Control Premium? Evidence from BRIC Countries, in: Strategic Deals in Emerging Capital Markets. Are There Efficiency Gains for Firms in BRIC Countries? / Ed. by I. Ivashkovskaya, S. Grigorieva, E. Nivorozhkin. Switzerland : Springer, 2020. doi Ch. 6. doi (in press)
- Chapter Ivashkovskaya I., Skvortsova I. Corporate diversification and value creation: Should Russian firms diversify?, in: The Life of Russian Business: (Re)cognizing, (Re)activating and (Re)configuring Institutions. Information Age Publising, 2019.
- Article Feruleva N., Ivashkovskaya I. Assessment of intellectual capital influence on corporate value as a field for further investigations in corporate finance // Journal of Corporate Finance Research. 2018. Vol. 12. No. 1. P. 64-76. doi
- Article Ivashkovskaya I., Evdokimov S. Does Corporate Financial Architecture of Innovative Companies Differ? The Evidence From USA // Journal of Corporate Finance Research. 2018. Vol. 12. No. 4. P. 7-28. doi
- Article Ivashkovskaya I., Stepanova A., Felício J., Rodrigues, R. Corporate Governance and Performance in the Largest European Listed Banks During the Financial Crisis // Innovar. 2014. Vol. 24. No. 53. P. 83-98.
- Article Ivashkovskaya I., Stepanova A., Eliseeva N. Does Corporate Financial Architecture Contribute to Sustainable Corporate Growth? The Evidence from Russian Companies // Journal of Corporate Finance Research / Корпоративные финансы. 2014. Vol. 8. No. 4. P. 11-33. doi
- Chapter Ivashkovskaya I., Gushchin A. S., Rukavishnikov Y. M. Capital Structure Choice at Different Life-Cycle Stages in Turbulent Environment: the Evidence from Russian Emerging Capital Market, in: Economic and Social Development: Book of Proceedings of the 2nd International Scientific Conference, Paris, France, 5th April 2013. Celje : Varazdin development and Entrepreneurship Agency, 2013. P. 311-321.
- Chapter Shcherbakov D. Y., Ivashkovskaya I. Efficiency of Corporate International Diversification: Evidence from Developing Countries, in: Economic and Social Development: Book of Proceedings of the 2nd International Scientific Conference, Paris, France, 5th April 2013. Celje : Varazdin development and Entrepreneurship Agency, 2013. P. 1064-1075.
- Article Ivashkovskaya I., Dyachenko K. The use of market expectations in management of Russian companies // Journal of Corporate Finance Research. 2013. No. 4 (28). P. 79-90.
- Article Ivashkovskaya I., Stepanova A. N., Kukina E. Corporate financial architecture impact on economic benefit: an empirical study of Russian companies in crisis and pre-crisis period // In the book.: XII International Academic Conference on Economic and Social Development. In four books. Book 4. Moscow: HSE. 2012. P. 39-48.
- Article Ivashkovskaya I., Stepanova A. Financial Architecture and Economic Profit Creation in Russia: Corporate Governance Issue in the Pre-Crisis and Post-Crisis Economy // SSRN Working Papers. 2012
- Article Ivashkovskaya I. Stakeholder Approach to Value-Based Management // Journal of Corporate Finance Research. 2012. No. 1 (21). P. 14-23.
- Article Ivashkovskaya I., Partin I., Skurikhina A. The Determinants of Strategic Bank Performance in Emerging Markets // Journal of Corporate Finance Research. 2012. No. 3 (23). P. 5-21.
- Article Ivashkovskaya I., Kokoreva M. S., Kadurov A. A. The interaction of corporate and macroeconomic determinants of financing policy in emerging capital markets // In the book: XII International Academic Conference on Economic and Social Development. In four books. Book 4. Moscow: HSE. 2012. P. 499-508.
- Chapter Ivashkovskaya I., Kokoreva M. S., Kadurov A. A. Capital Structure Policy in Central Europe and BRIC: Interaction of Internal Determinants and Macroeconomic Factors, in: Proceedings of the 19th Annual Conference on Marketing and Business Strategies for Central and Eastern Europe. , 2011. P. 173-192.
- Article Ivashkovskaya I., Stepanova A. N. Does strategic corporate performance depend on corporate financial architecture? Empirical study of European, Russian and other emerging market’s firms // Journal of Management and Governance. 2011. Vol. 15. No. 4. P. 603-616.
- Article Ivashkovskaya I., Kokoreva M. S. Empirical analysis of the capital structure of medium-sized Russian companies. (Russian) // A collection of papers on the results of the XI International Academic Conference on Economic and Social Development. Moscow. Publishing House of the Higher School of Economics. 2011
- Article Ivashkovskaya I. Impact of Corporate financial architecture of the strategic performance (co-authored) (in Russian) // New Trends in the Development of the Russian Model of Corporate Governance: the Post-Crisis Lessons and Conclusions. – Yekaterinburg. Ural Academic State Economic University Press. 2011. Vol. 1. P. 85-98.
- Article Ivashkovskaya I. Incorporating Stakeholder Approach into Financial Analysis: The Harmonized Firm // Journal of Corporate Finance Research. 2011. No. 3 (19). P. 59-70.
- Article Ivashkovskaya I., Kokoreva M. S. Is financing policy an instrument of the value creation in the company? Empirical research of companies in Central and Eastern Europe (Russian) // Collection of Articles XII International Academic Conference on Economic and Social Development. 2011
- Article Ivashkovskaya I., Grigorieva S. Performance of international mergers and acquisitions from emerging capital markets: an empirical analysis (Russian) // Collection of up to XI International Academic Conference on Economic and Social Development, Moscow, April 6-8, 2010. 2011. Vol. 3. P. 532-543.
- Article Ivashkovskaya I., Grigorieva S. The Impact of Mergers and Acquisitions on Company Performance Evidence from Emerging Capital markets form Europe // Proceedings of the 19th Annual Conference on Marketing an Business Strategies for Central&Eastern Europe.Institute for Export Management. Vienna University of Economics and Business. 2011. P. 159-172.
- Chapter Grigorieva S., Ivashkovskaya I. The Impact of Mergers and Acquisitions on Company Performance: Evidence from Emerging Capital Markets of Europe, in: Proceedings of the 19th Annual Conference on Marketing and Business Strategies for Central and Eastern Europe. , 2011. P. 159-172.
- Chapter Ivashkovskaya I., Kokoreva M. S. Capital Structure Choice in BRIC: Do Russian, Brazilian and Chinese Firms Follow Peckign Order or Trade-Off Logic of Financing?, in: Global Business and Technology Association. Business Strategies and Technological Innovation for Sustainable Development: Creating Global Prosperity for Humanity. Eleventh International Conference Readings Book.. , 2009. P. 572-579.
- Article Ivashkovskaya I., Zinkevich N. The Relationship Between Corporate Governance and Company Performance in Concentrated Ownership Systems: the Case of Germany // Journal of Corporate Finance Research. 2009. Vol. 3. No. 4. P. 34-56. doi
- Article Ivashkovskaya I., Ponomareva O. Going Public: Empirical Study of Motives and Efficiency of IPO in CIS // Journal of Corporate Finance Research. 2008. Vol. 2. No. 4. P. 5-22. doi
- Chapter Ivashkovskaya I., Konstantinov G. N., Filonovich S. R. The Effect of the Corporate Lifecycle on Corporate Governance, in: The Canada-Russia Corporate Governance Program, 2000-2006: History, Papers, Cases and Prospects. Toronto : Schulich School of Business, 2008. P. 247-269.
- Article Ivashkovskaya I., Kuznetsov I. An Empirical Study of Country Risk Adjustments to Market Multiples Valuation in Emerging Markets: the Case for Russia // Journal of Corporate Finance Research. 2007. Vol. 1. No. 3. P. 26-52. doi
- Article Ivashkovskaya I., Solnceva M. The Capital Structure of Russian Companies: Testing Trade-off Theory versus Pecking Order Theory // Journal of Corporate Finance Research. 2007. Vol. 1. No. 2. P. 17-31. doi
Edited4
- Book Ivashkovskaya I., Grigorieva S. Strategic Deals in Emerging Capital Markets. Are There Efficiency Gains for Firms in BRIC Countries? / Ed. by I. Ivashkovskaya, S. Grigorieva, E. Nivorozhkin. Switzerland : Springer, 2020. doi
- Book Ivashkovskaya I. Strategic Financial Decisions of Companies in Emerging Capital Markets (in Russian) / Ed. by I. Ivashkovskaya. M. : KnoRus, 2019.
- Book Ivashkovskaya I., Stepanova A. N., Kokoreva M. S. Corporate Financial Architecture: Empirical studies in developed and emerging markets (in Russian) / Ed. by I. Ivashkovskaya. M. : INFRA-M, 2013.
- Book Ivashkovskaya I. Corporate Financial Decisions. An Empirical Analysis of Russian Companies (in Russian) / Ed. by I. Ivashkovskaya. M. : INFRA-M, 2011.
Articles
- Ivashkovskaya I.V., Grigorieva S.A. Performance of international mergers and acquisitions from emerging capital markets: an empirical analysis (Russian). Collection of up to XI International Academic Conference on Economic and Social Development, Moscow, April 6-8, 2010., 2011. T. 3. Pages 532-543.
- Ivashkovskaya I.V., Kokoreva M.S. Empirical analysis of the capital structure of medium-sized Russian companies. (Russian). In.: A collection of papers on the results of the XI International Academic Conference on Economic and Social Development. Moscow. Publishing House of the Higher School of Economics, 2011.
- Ivashkovskaya I.V., Aleskerov F.T., Belousova V.Y., Pogorelsky K.B., Stepanova A.N. Analysis of efficiency frontier and distribution of power between shareholders of the bank. (in Russian). Management of the credit institution. - M., 2010. - № 2 (54). - Pages 49-64. № 3 (55) – Pages 30-38.
- Ivashkovskaya I.V. Economic Profit Models and Control of Value Creation: Trade-offs in Research. "Corporate Finance: the electronic magazine", 2010. - № 13. - Pages 39-61. http://ecsocman.hse.ru/hsedata/2010/12/31/1208184801/Vypusk13_Ivashkovskaya_39_61.pdf
- Ivashkovskaya I.V. The financial model analysis of the company - the basis of the decision-making in the board room. Evaluation, 2010 - № 1. – Pages 80-85.
- Ivashkovskaya I.V., Penkina I.V., Kukina E.B. Economic value added. Concepts. Approaches. Instruments (Russian). Electronic Journal of Corporate Finance, 2010. № 2 (14). Pages 103-108. http://ecsocman.hse.ru/hsedata/2010/12/31/1208184587/Выпуск14_i_k_p_103_108.pdf
- Ivashkovskaya I.V. Assessment of the sustainability of corporate growth: Stakeholder Approach (Russian). Finance and Credit, 2010. Number 43. Pages 45-60.
- Ivashkovskaya I.V., Stepanova A.N. Is the optimal financial architecture of the company possible? Comparative analysis of companies in Europe, Russia and other countries with emerging capital markets. X International Conference on Economic and Social Development. In three books. Executive editor of EG Yasin. - Moscow: Publishing House of the State University - Higher School of Economics, 2010. - Page 329-338.
- Ivashkovskaya I.V., Makarov P.V. Do Companies From Emerging Markets Follow Classic Theories of Capital Structure Choice? Empirical Study on Companies From Central and Eastern Europe (Russian). Electronic Journal of Corporate Finance, 2010. № 3 (15). Pages 47-62. http://ecsocman.hse.ru/hsedata/2010/12/31/1208183636/CF_15_pages47_62_ivashkovskaya_makarov.pdf
- I.Ivashkovskaya, A.Stepanova. Does strategic corporate performance depend on corporate financial architecture? Empirical study of European, Russian and other emerging market’s firms. Journal of Management and Governance. Online – First. http://dx.doi.org/[DOI 9132], 2010 – February.
- Ivashkovskaya I.V. Stakeholder Value based Corporate Governance Model. Bulletin of the Finance Academy. - M., 2010. - № 2 (56). - Pages 29-35.
- I.Ivashkovskaya, M.Kokoreva. Capital Structure Choice in BRIC: Do Russian, Brazilian and Chinese Firms Follow Pecking Order or Trade - Off Logic of Financing? Business Strategies and Technological Innovations for Sustainable Development: Creating Global Prosperity for Humanity. Global Business and Technology Association Eleventh International Conference Readings Book. Edited by N. Delener, L.Fuxman, F.V.Lu, A.Putnova, L.E.Rivera-Solis. N.Y., 2009. P. 572-580.
- I.Ivashkovskaya, S.Shamraeva. Corporate Diversification Effect on Firm Value in Emerging Markets: Evidence from Group of BRIC Countries. Business Strategies and Technological Innovations for Sustainable Development: Creating Global Prosperity for Humanity. Global Business and Technology Association Eleventh International Conference Readings Book.Edited by N.Delener, L.Fuxman, F.V.Lu, A.Putnova, L.E.Rivera-Solis. N.Y., 2009. P.565-571.
- Ivashkovskaya I.V., Shamraeva S.A., Grigoriadi E.E. An empirical analysis of the effectiveness of corporate diversification in emerging capital markets. Economic Journal of the Higher School of Economics. Volume 13. - M., 2009. - № 3. - Pages 360-382.
- Ivashkovskaya I.V., Kokoreva M.S. The choice of capital structure by large Russian companies. Modernization of the economy and social development: in 3 books. Otv. Ed. E.G. Yasin, Gos. Univ - Higher School of Economics. - M.:. House HSE, 2009. – P. 155-163.
- Ivashkovskaya I.V., Stepanova A.N. Financial architecture of the firm: ownership structure and corporate performance in emerging capital markets. Modernization of the economy and social development: in 3 books. Otv. Ed. E.G. Yasin, Gos. Univ - Higher School of Economics. - M. House HSE, 2009. – P. 180-187.
- Ivashkovskaya I.V., Kokoreva M.S. Determinants of strategic financing decisions of large companies in emerging capital markets: the case of Russia, Brazil and China. Russian Management Journal. Volume 7. - M., 2009. - № 1. - Pages 25-42.
- Ivashkovskaya I.V., Stepanova A.N. Ownership structure and its impact on strategic performance of companies. Finance and Business. - M., 2009. - № 3. - Pages 1-22.
- Ivashkovskaya I.V., Zhivotova E.L. The Index of Sustainability of Growth: an empirical validation on the data of Russian companies. Bulletin of St. Petersburg University. «Management». - M., 2009. Issue 4. - Pages 3-29.
- Ivashkovskaya I.V. The influence of corporate governance on strategic corporate performance in Russia. Finance and Credit. - M., 2009. - № 8 (384). - Pages 21-28.
- Ivashkovskaya I.V. Kuznetsov .IA. Methods of adjustments of market multiples for country risk: an empirical investigation. Audit and financial analysis. 2008. № 5. Volume: Pp. 2
- Ivashkovskaya I.V. Sustainability of corporate growth: the financial approach. Russian entrepreneurship . 2008. №3.
- Ivashkovskaya I.V. The problem field of corporate governance research: ideas and results. Economic science of contemporary Russia. 2008. № 4.
- Ivashkovskaya I.V., Pirogov N.K. Financial analysis of the quality of growth of Russian companies. Audit and financial analysis. 2008. № 6.
- Ivashkovskaya I.V., Solntseva M.S. The capital structure of Russian companies as a strategic decision. Bulletin of St. Petersburg University. A series of management. 2008. Number 3. - "Bulletin of St. Petersburg University. Management Series ", 2008, № 3.
- Ivashkovskaya I.V. Strategic monitoring of stakeholder value creation. Journal of Finance Academy. 2008. № 3.
- Ivashkovskaya I.V. Model of strategic value based analysis of the company. Economics of contemporary Russia. 2008. № 3.
- Ivashkovskaya I.V., Raschupkin A. Osipov, J. Boards of directors and corporate performance in transition economies: a study based on the rating of the RID-EXPERT RA. In: Corporate Governance and Sustainable Business Development: the strategic role of boards of directors Moscow: Europe, 2008.
- Ivashkovskaya I.V., Stepanova A.N. The influence of ownership structure on corporate performance in a emerging capital market. In: Corporate Governance and Sustainable Business Development: the strategic role of boards of directors Moscow: Europe, 2008.
- Ivashkovskaya I.V. Problem of transformation analysis and assessment of activity of Russian companies in the transition to an innovative type of economy. In: Proceedings of the meeting of the Russian Research Economic "Problems of modernization of the economy and economic policy in Russia. The economic doctrine of the Russian Federation, "Moscow: Scientific Expert, 2008.
- Ivashkovskaya I.V. The development of strategic financial analysis of the company: the principles, objectives and instruments. In: Corporate Finance: Prospects and Reality. Strategic financial solutions companies Moscow: TEIS, 2008.
- I.V.Ivashkovskaya. The Strategic Role of Boards of Directors: Empirical Analysis of Corporate Governance and Value Creation in Russian Firms – The Canadia –Russia Corporate Governance Program, 2000-2006. History, Papers, Cases and Prospects. Edited by J.Gilles. Toronto, Schulich Business School, 2008. Coauthor - Settles A.
- I.V.Ivashkovskaya. The Effect of Corporate Life Cycle on Corporate Governance - The Canadia – Russia Corporate Governance Program, 2000-2006.History, Papers, Cases and Prospects. Edited by J.Gilles. Coauthors - Konstantinov G., Filonovich S.
- Boards of Directors and the strategic performance of Russian firms. - "Problems of the theory and practice of management." 2007, № 8 (co-authored).
- Ivashkovskaya I.V., Zaporozhky A.I. Performance measurement of Russian companies in value based management approach: modified cash value added (MCVA). Audit and financial analysis. - M., 2007. - № 6. - Pages 211-223.
- Ivashkovskaya I.V. Financial measures of corporate strategies. Audit and financial analysis. - M., 2007. - № 5. - Pages 150-163.
- Ivashkovskaya I.V. The role of intellectual capital in value creation of large Russian companies. Journal of Finance Academy. - M., 2007. - № 4 (44). - Pages 53-62.
- Value based Management: Challenges for Russian management. - "Russian Management Journal", 2004, № 4. Pages 113-132.
- Formation of corporations in the context of the life cycle of the organization. "- "Russian Management Journal", 2004, № 4, p.19-34, co-contribution.
- Preface to the Russian edition of the book: C.Walsh "Key Management Ratios. How to compare and control the factors that determine the value of the company. "Moscow. The "case". 2000.
- Ivashkovskaya I.V. Restructuring of the financial system of Russia as a condition for the transition to economic growth. Restructuring of Russia's financial system as a condition for the transition to economic growth: Recommendations of the International Scientific and Practical Conference. Moscow, April 27-28, 1999. Ed. Rybin V. - Moscow: Dialog-MGU, 1999. – P.29.
- Strategic approach to the financial management of large companies: International Experience and Russian problem. "- An article in the journal "Bulletin of Moscow State University. Series Economy ". 1999.
- Preface to the Russian edition of the book: L.Gitman, M.Jonk "Investing Basics" M., "Business", 1997.
Our Graduates from Business Area Come Back to Teach
In an interview with the Head of the Analytical Center “BusinessDrom” Pavel Samiev, Head of the HSE Faculty of Economic Sciences’ School of Finance, Professor Irina Ivashkovskaya spoke about where current students want to work, how to involve business representatives in educational activities, and what changes have recently taken place in financial education.
‘HSE University Gives You Everything You Need to Manage the Research Process’
Ion Frecautan chose to pursue his doctoral studies at HSE University because of its reputation as a leading research university and its extensive academic infrastructure. With the latest enrolment campaign for doctoral schools now underway, we spoke to Ion about his green finance research at the Faculty of Economic Sciences, his activities as a lecturer, and more.
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:
‘Sustainability in an Unstable Environment is Not a Paradox, but the Norm’
The application deadline for the English-language Master of Business Analytics programme has been extended until September 20th. Irina Ivashkovskaya, Professor at the Faculty of Economic Sciences, Head of the School of Finance and Programme Academic Supervisor of the online Master of Business Analytics programme, spoke about why we should study current concepts and methods of business analysis in this era of new economic normality.
‘HSE “Master of Business Analytics” Attracted Me with Its Innovative Online Format’
Renata Zakirova is a graduate in Medical Science of the Faculty of Fundamental Medicine of Lomonosov Moscow State University and a current student of the HSE Master of Business Analytics programme. She spoke to the HSE News Service to share why she chose HSE's online master's programme and explain what diagnosing a patient and assessing the stock market have in common.
HSE Best Russian-Language Scientific and Popular Science Papers Competition Results
On June 6th, within the framework of the HSE Best Russian-Language Scientific and Popular Science Papers Competition, the paper “Relationship between Regional Socio-Economic Development and Corporate Ratings of Russian Companies” presented by the team of authors: Irina Ivashkovskaya, Elena Makeeva, Konstantin Popov and Liudmila Ruzhanskaya, became the winner in the nomination “Best Russian-Language Scientific Work”, and was awarded a certificate of honour.
‘Our Task Is to Preserve the Market Segment as Much as Possible’
What risks is the Russian financial system facing today? What is the Central Bank of Russia going to do to mitigate them? Why do we need a high key rate? Has the regulator changed its approach to the building of forex reserves? Will the regulator remain hawkish on cryptocurrencies? Ksenia Yudaeva, First Deputy Governor of the Central Bank of Russia, answered these and other questions during a round table entitled ‘Russia’s Financial Sector under New Global Conditions’. The event was held as part of the XXIII Yasin (April) International Academic Conference.
‘Gaining Practical Knowledge and Learning to Do a Lot in a Short Time’—The Life of an HSE PhD Student
Milica Simonovic, from Belgrade, Serbia, is a doctoral student at the HSE University Faculty of Economic Sciences. She is currently working on her doctoral thesis on corporate governance and intellectual capital disclosure. We interviewed Milica to find out more about her thesis and her experience of the university’s application process for PhD students.
‘One of the Biggest Advantages of HSE University Is Its Multi-cultural And International Environment’
Parisa Esmaeilkhani, from Iran, and Anshuman Sharma, from India, are currently studying in HSE University’s English-taught Master’s programmes. In an interview with HSE News Service, they talked about enrolling at HSE University, discovering Moscow, learning Russian, exploring the opportunities HSE University offers, and studying remotely during the pandemic.
‘Our Graduates Will Be Prepared for Several Promising Career Paths’
In 2021, the Master of Business Analytics Programme of the Faculty of Economic Sciences will hold its first intake. The programme will be fully implemented online: students will study in English on the Coursera platform. Irina Ivashkovskaya, Tenured Professor at HSE University, Head of the School of Finance and Academic Supervisor of the new Master’s Programme, told the News Service about other features of the Programme, what competencies students will gain, what ‘stakeholder capitalism’ means, and why it is important for a future financier.
'ICEF offers an unusually broad education that gives workplace flexibility'
Svetlana Pavlova earned her bachelor's degree from ICEF in 2003 and won a scholarship to continue her studies at LBS (London Business School). Svetlana is currently a Vice President–Analyst at Moody's Investors. In this interview, she shares how to win an LBS scholarship through academic networking, how IB analytics differs from rating analytics, and how ICEF gives not only diplomas but also friends.
HSE University’s Online Master of Business Analytics Offers New Opportunities
The English-taught fully online Master of Business Analytics is offered by HSE University on Coursera in partnership with the AICPA Association. The first cohort will start their classes in September 2021. The programme aims to train a new generation of finance leaders. Working together with AICPA Association allows HSE University to significantly expand the range of educational options available to students.
'In the Future I Want to Open a Business School in Nigeria'
Graduate of HSE University and University of Luxemburg Tobi Oladiran from Nigeria reflects on his experience and takeaways from the Master’s programme in Strategic Corporate Finance and the double track it offers.
We congratulate Artem Anilov, postgraduate student and senior lecturer at the School of Finance, on the brilliant defense of his Ph.D. thesis!
Dissertation topic: "MANAGERIAL COMPENSATION, OVERCONFIDENCE AND PAYOUT POLICY"
Applicant - Anilov Artyom
Academic Supervisor - Ivashkovskaya Irina
20th EURAM Annual Conference
Researchers of the Corporate Finance lab have presented a study devoted to the analysis of Board Capital and its impact on company performance in Russia. The presentation was made within 20th EURAM Annual Conference which was held in Dublin (online) on 4-6 of December 2020. The study was prepared by D. Korablev, I. Ivashkovskaya and A. Stepanova. The abstract of the paper is presented below.
Also the paper WHO CONTRIBUTES TO INNOVATIONS? was been presented on this conference by Elena Karnoukhova, Anastasia Stepanova.
eSTARS 2020 Conference to Discuss Education in the Context of Global Digitalization
Jointly organized by HSE University and Coursera, the international eLearning Stakeholders and Researchers Summit (eSTARS 2020) will be held from December 1 – 2, 2020. It will be the third time the organizers bring together international stakeholders from governments, the academic community, busines, as well as researchers and experts to discuss the present and future of online education.
'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.
Strategic Deals in Emerging Capital Markets
Analyzes merger and acquisitions trends in emerging markets. Gives an overview over financial developments in the BRICS countries. Identifies determinants of success and failures
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’
The book "Strategic corporate financial decisions in emerging capital markets: a monograph" has been published
Professors and researchers at the School of Finance of the Higher School of Economics investigated the specifics of corporate financial decisions on data from emerging capital markets
Green Funding and Company Value Drivers. Results of the CFO Russia Summit
Over two hundred financial managers of large Russian and International companies attended the Summit of Financial Directors of Russia - the XV annual event aimed at sharing the experience of the heads of financial departments. The event took place on October 30-31, 2018.
“Best paper award” at EIASM conference
On November 5-6, the 15th EIASM Conference on “Corporate Governance” took place in Brussels. Representatives of more than 15 countries came to the capital of Belgium to present their research projects and discuss new trends in the field of corporate finance.
Joint Department with Deloitte Opens at HSE
With the Joint Department with Deloitte, the HSE School of Finance now has joint departments with all of the Big Four audit and consulting firms.
Intangible Assets are More Important Than Tangibles
The HSE School of Finance recently held a roundtable discussion dedicated to public non-financial reporting. The keynote presentation was delivered by Stefano Zambon, Professor at the University of Ferrara (Italy), who is also the Chairman of the World Intellectual Capital Initiative (WICI), a global network engaged in the systematization and dissemination of information on the intellectual capital indicators and modes for presenting it in non-financial reporting.
Interest in Intellectual Capital and Intangibles Is Present in All Countries
The 12th Annual International Workshop ‘Intangibles, Intellectual Capital and Extra-Financial Information’ was held at HSE St Petersburg last week. This is an established event that many academics and practitioners in the area of intellectual capital and intangibles know about due to its high credibility. Most of the relevant people in this field have participated in the workshop throughout the years.
Intellectual Capital to Be Discussed at HSE St. Petersburg
The 12th Annual International Workshop ‘Intangibles, Intellectual Capital and Extra-Financial Information’ will take place from September 22 – 23, 2016, at HSE’s campus in St. Petersburg. The workshop is being organized by the European Institute for Advanced Studies in Management (EIASM) in conjunction with HSE and the University of Ferrara. This event will be a new step in the long history of this forum, which is aimed at academic exchange of theoretical and empirical qualitative and quantitative research regarding intellectual capital.
'We Follow the Traditions and Standards of the Best Business Schools'
In 2016, the Strategic Corporate Finance (SCF) programme is celebrating its 10th anniversary and is becoming fully English-taught. Anastasia Stepanova, a graduate of the programme and its current academic director, told us about the unique features of studying in the programme.
Intellectual Capital: Measurement and Management
During the XVI April International Academic Conference HSE held a joint session on Intellectual Capital of Companies together with the European Institute of Advanced Studies in Management (Brussels). During this session, Professor Zambon of the University of Ferrara gave a keynote lecture and participated in round-table discussions on various problems associated with intellectual capital and intangible assets.
New Steps in Intellectual Capital Research
Several events related to the research and measurement of intellectual capital and their application in Russian business took place as part of the 16th HSE April Conference on Economic and Social Development.
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.
Cooperation with Moscow Set to Develop
A meeting has taken place between members of the finance department at HSE St. Petersburg and the Head of the School of Finance at HSE, tenured professor, Irina Ivashkovskaya.
HSE on Coursera: This is only the start
The 11 educational courses completed in the first year of HSE's cooperation with Coursera won an audienec of 300,000. The courses' lecturers talked about how they succeeded in doing this at a round table at HSE.
Intellectual Capital
The 9th interdisciplinary workshop on intangibles, intellectual capital and extra-financial information was held at the Copenhagen Business School at the end of September. It was organized by EIASM (the European Institute for Advanced Studies in Management). Mariya Molodchik, Associate Professor of the Laboratory of Interdisciplinary Empirical Studies HSE Perm told about the event.