Svetlana Grigorieva
- Research Fellow:Faculty of Economic Sciences / Corporate Finance Center
- Associate Professor:Faculty of Economic Sciences / School of Finance
- Svetlana Grigorieva has been at HSE University since 2003.
Education and Degrees
- 2011
Candidate of Sciences* (PhD)
- 2006
Doctoral programme
HSE University - 2002
Degree
HSE 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.
Young Faculty Support Programme (Group of Young Academic Professionals)
Category "Future Professoriate" (2012-2013)
Courses (2023/2024)
- Advanced Business Valuation (Mago-Lego; 3, 4 module)Eng
Advanced Business Valuation (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, 3, 4 module)Eng
- Mentor's Seminar (Master’s programme; Faculty of Economic Sciences; 2 year, 1-4 module)Eng
- Mentor's Seminar (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Eng
Valuation of the Company (Bachelor’s programme; Faculty of Economic Sciences; field of study "38.03.01. Экономика", field of study "38.03.01. Экономика", field of study "38.03.01. Экономика"; 4 year, 1, 2 module)Eng
- Valuation of the Company (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 1, 2 module)Eng
- Past Courses
Courses (2022/2023)
Advanced Business Valuation (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)Rus
Advanced Business Valuation (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", field of study "38.04.08. Финансы и кредит"; 1 year, 3, 4 module)Eng
- Advanced Business Valuation (Mago-Lego; 3, 4 module)Eng
- Mentor's Seminar (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Eng
- Mergers, Acquisitions and Restructuring of a Firm (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 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
Valuation of the Company (Bachelor’s programme; Faculty of Economic Sciences; field of study "38.03.01. Экономика", field of study "38.03.01. Экономика"; 4 year, 1, 2 module)Eng
Courses (2021/2022)
- Advanced Business Valuation (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Rus
- Advanced Business Valuation (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Mergers, Acquisitions and Restructuring of a Firm (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
- Principles of Corporate Finance (Master’s programme; Faculty of Economic Sciences; 1 year, 1-3 module)Rus
- Valuation and Value Based Management (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Valuation of the Company (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Eng
Courses (2020/2021)
- Advanced Business Valuation (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Rus
- Corporate Valuation (Advanced Level – Corporate Valuation-2) (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Mergers, Acquisitions and Restructuring of a Firm (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
- 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 "Strategic Finance Company" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-4 module)Rus
- Valuation of the Company (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Eng
Courses (2019/2020)
- Advanced Business Valuation (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Rus
- Corporate Valuation (Advanced Level – Corporate Valuation-2) (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Financial Management in Legal Industry (Master’s programme; Higher School of Law and Administration; 1 year, 2-4 module)Rus
- Mergers, Acquisitions and Restructuring of a Firm (Master’s programme; Faculty of Economic Sciences; 2 year, 1, 2 module)Rus
- Research Seminar "Empirical Corporate Finance 2" (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Research Seminar "Mergers & Acquisitions" (Master’s programme; Faculty of Economic Sciences; 2 year, 1-3 module)Eng
- Valuation of the Company (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Eng
Conferences
- 2021
European Academy of Management (EURAM) (Монреаль). Presentation: Impact of CEO Overconfidence on M&A Performance in the US: A Content Analysis
- 2020XXI Международная апрельская конференция (Москва). Presentation: Влияние защиты прав интеллектуальной собственности на активность международных сделок слияний и поглощений
IV Российский экономический конгресс (РЭК-2020) (Москва). Presentation: The Impact of CEO Overconfidence on M&A Deals Performance: Evidence from US
- 2019
XX Апрельская международная конференция по проблемам развития экономики и общества (Москва). Presentation: The Effect of Acquirer’s Life Cycle Stage on the Performance of M&As: Evidence from Mega and Non Mega deals in US
- 2016XVII апрельская международная научная конференция "Модернизация экономики и общества" (Москва). Presentation: Takeover premium Determinants in Developed and Emerging Capital Markets
- XVII апрельская международная научная конференция "Модернизация экономики и общества" (Москва). Presentation: Takeover premium Determinants in Developed and Emerging Capital Markets
- Международная научная конференция «Развивающиеся рынки: перспективы развития бизнеса и государства» (Санкт-Петебург). Presentation: Determinants of acquisition premium in Russia
- 2015XVI Апрельская международная научная конференция "Модернизация экономики и общества" (Москва). Presentation: Puzzle of corporate diversification efficiency in emerging markets
- 2014Spring Meeting of Young Economists (Вена). Presentation: Puzzle of corporate diversification efficiency in BRIC countries
13th EACES Biennial Conference (Будапешт). Presentation: Impact of M&As in financial sector on bidder's returns in BRICS countries
Publications34
- Article Kizko I., Viсtoria Cherkasova, Grigorieva S. Voluntary Delisting of Russian Companies at Different Stages of Corporate Life Cycle // Journal of Corporate Finance Research. 2023. Vol. 17. No. 2. P. 39-49. doi
- Chapter Grigorieva S. Corporate Diversification-Performance Puzzle in BRIC, 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. 9. P. 223-239. doi
- Chapter Grigorieva S. How M&A Deals Influence Corporate Performance in Developed and Emerging Capital Markets: A Review of Empirical Results in the Literature, 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. 2. P. 33-61. doi
- Chapter Grigorieva S., Kuzmina Svetlana. Post-acquisition Value Effects of M&A Deals: A Comparative Analysis in Developed and Emerging Capital Markets, 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. 5. P. 113-135. doi
- 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
- Article Григорьева С. А., Колмыкова Т. В. Влияние выбора акций как средства платежа на эффективность сделок M&A в условиях информационной асимметрии // Вестник Московского университета. Серия 6: Экономика. 2020. № 3. С. 58-77.
- Article Григорьева С. А., Панькова И. Д. Выплаты по результатам (earnout) в сделках слияний и поглощений на развивающихся рынках капитала // Финансы и бизнес. 2020. Т. 16. № 3. С. 61-78. doi
- Article Grigorieva S., Egorova Angelina. The Effect of an Acquirer’s Life Cycle Stage on the Performance of M&As: Evidence from Mega and Non-Mega Deals in the US // Journal of Corporate Finance Research. 2019. Vol. 13. No. 3. P. 7-18. doi
- Book Ивашковская И. В., Башкуева С. А., Григорьева С. А., Кокорев Д. А., Кокорева М. С., Макеева Е. Ю., Скворцова И. В., Степанова А. Н., Тарасова Е. Стратегические финансовые решения компаний на развивающихся рынках капитала: монография / Под общ. ред.: И. В. Ивашковская. М. : КноРус, 2019.
- Chapter Григорьева С. А., Башкуева С. А. Что определяет размер премий в сделках слияний и поглощений на развитых и развивающихся рынках капитала? // В кн.: Стратегические финансовые решения компаний на развивающихся рынках капитала: монография / Под общ. ред.: И. В. Ивашковская. М. : КноРус, 2019. Гл. 6. С. 162-182.
- Chapter Григорьева С. А., Тарасова Е. О. Эффективны ли международные сделки M&A для компаний — покупателей из стран BRICS? // В кн.: Стратегические финансовые решения компаний на развивающихся рынках капитала: монография / Под общ. ред.: И. В. Ивашковская. М. : КноРус, 2019. Гл. 8. С. 201-229.
- Book Ивашковская И. В., Кокорева М. С., Макеева Е. Ю., Григорьева С. А., Скворцова И. В., Степанова А. Н., Кокорев Д. А., Башкуева С. А., Тарасова Е. О. Стратегические финансовые решения компаний на развивающихся рынках капитала / Под общ. ред.: И. В. Ивашковская. М. : КноРус, 2017.
- Article Григорьева С. А., Черкасова В. А., Козлов С. О. Моделирование рыночных мультипликаторов на развивающихся рынках капитала // Управленческий учет и финансы. 2016. № 02(46) . С. 108-129.
- Preprint Svetlana Grigorieva, Georgii Gorbatov. Puzzle of Corporate Diversification Efficiency in BRIC countries / NRU Higher School of Economics. Series FE "Financial Economics". 2015. No. WP BRP 47/FE/2015.
- Article Grigorieva S., Petrunina T. The performance of mergers and acquisitions in emerging capital markets: a new angle // Journal of Management Control. 2015. Vol. 26. No. 4. P. 377-403. doi
- Article Григорьева С. А., Абузов Р. М. Оценка эффективности сделок слияний и поглощений на развитых рынках капитала Западной Европы // Экономический журнал Высшей школы экономики. 2015. Т. 19. № 2. С. 199-217.
- Article Григорьева С. А., Черкасова В. А. Сделки слияний и поглощений и стоимость финансовых компаний на развитых европейских рынках капитала // Финансовая аналитика: проблемы и решения. 2015. № 35 (269). С. 36-49.
- Article Grigorieva S., Morkovin R. The Effect of Cross-Border and Domestic Acquisitions on Shareholder Wealth: Evidence from Brics Acquirers // Journal of Corporate Finance Research. 2014. No. 4 (32). P. 34-45.
- Preprint Grigorieva S., Petrunina T. The Performance of Mergers and Acquisitions in Emerging Capital Markets: New Evidence / NRU Higher School of Economics. Series FE "Financial Economics". 2013. No. WP BRP 20/FE/2013.
- Article Григорьева С. А., Гринченко А. Ю. Влияние сделок слияний и поглощений в финансовом секторе на стоимость компаний-покупателей на развивающихся рынках капитала // Корпоративные финансы. 2013. № 4(28). С. 63-81.
- Article Григорьева С. А., Троицкий П. В. Влияние слияний и поглощений на операционную эффективность компаний на развивающихся рынках капитала // Корпоративные финансы. 2012. № 3 (23). С. 31-43.
- Article Григорьева С. А., Фоменко Н. В. Детерминанты метода платежа в сделках слияний и поглощений на развивающихся рынках капитала // Корпоративные финансы. 2012. № 4 (24). С. 64-79.
- 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 Григорьева С. А., Ивашковская И. В. Эффективность международных сделок слияний и поглощений компаний с развивающихся рынков капитала: эмпирический анализ // В кн.: XI международная научная конференция по проблемам развития экономики и общества: В 3 кн. Кн. 3 / Отв. ред.: Е. Г. Ясин. Кн. 3. М. : Издательский дом НИУ ВШЭ, 2011. С. 532-543.
- Chapter Григорьева С. А. Эффективность стратегий диверсификации компаний на развивающихся рынках капитала // В кн.: Корпоративные финансовые решения. Эмпирический анализ российских компаний (корпоративные финансовые решения на развивающихся рынках капитала) / Науч. ред.: И. В. Ивашковская. М. : ИНФРА-М, 2011. Гл. 5. С. 80-112.
- Article Григорьева С. А. Издержки и выгоды корпоративной диверсификации // Корпоративные финансы. 2010. № 2(14). С. 36-46.
- Article Григорьева С. А. Анализ эффективности корпоративной диверсификации на российском рынке: эмпирическое исследование // Финансы: теория и практика. 2009. № 1(49). С. 37-43.
- Article Григорьева С. А., Ивашковская И. В., Григориади Е. Е. Эмпирический анализ эффективности корпоративной диверсификации на растущих рынках капитала на примере группы BRIC // Экономический журнал Высшей школы экономики. 2009. № 3. С. 360-382.
- Chapter Григорьева С. А. Финансовый анализ корпоративной диверсификации // В кн.: Финансовые технологии в управлении: Юбилейный сборник научных трудов кафедры финансового менеджмента факультета государственного управления МГУ имени М.В. Ломоносова и ее стратегических партнеров / Науч. ред.: А. З. Бобылева. М. : МАКС Пресс, 2008. С. 95-106.
- Book Григорьева С. А. Финансовый анализ корпоративной диверсификации. Сборник Финансовые технологии в управлении МГУ. М. : МАКС Пресс, 2008.
- Article Григорьева С. А. Стратегия диверсификации: скидки или премии? (в соавторстве) // Управление компанией. 2007. № 2. С. 52-56.
- Article Григорьева С. А. Финансовые исследования стратегий диверсификации на развитых и растущих рынках капитала // Корпоративные финансы. 2007. Т. 1. № 1. С. 111-114.
Employment history
2003 – till now National Research University «Higher School of Economics», Moscow
2012 – till now Associate Professor, School of Finance
2006 – till now Researcher of Corporate Finance Center (Coordinator of M&A Project)
2009 – 2014 Executive Secretary of Russian Leading Peer-Reviewed Electronic Journal of Corporate Finance Research
2011 – 2012 Senior Lecturer, Corporate Finance Department
2003 – 2011 Lecturer, Corporate Finance Department
2002 – 2003 Russian Pharmaceutical Company, Chief Accountant
2000 – 2002 Russian Pharmaceutical Company, Accountant
Professional Interests
- Business valuation
- Company value management
- Corporate finance
- Mergers and acquisitions in emerging capital markets
- Corporate governance
- Real estate valuation
Conference Presentations
- 'The Impact of Mergers and Acquisitions on Company Performance: Evidence from Emerging Capital Markets of Europe', presented at the 19th International Conference on Business Strategies and Marketing in Central and Eastern Europe in Vienna, Austria, December 2011
- 'Shareholder Value Creation in Russian M&As', presented at the International Conference of the Eurasia Business and Economics Society in Zagreb, Croatia, October 2011
- 'The Performance of Mergers and Acquisitions in Emerging Markets', presented at the 13th Annual International Conference of the Global Business & Technology Association in Turkey, Istanbul, July 2011
- 'M&A Strategies and Shareholder Wealth in Emerging Markets: Evidence from Russia', presented at the 18th International Conference on Business and Marketing Strategies for Central and Eastern Europe in Vienna, Austria, December 2010
Research, Grants
'Empirical Studies of Corporate Financial Solutions in Russia and Other Emerging Capital Markets', a research project of the HSE Centre for Basic Research, 2009
Coordinator of research projects on M&A performance in emerging capital markets, with the Laboratory of Corporate Finance
Courses
- Corporate Valuation - Undergraduate level, Faculty of Economics; Speciality: Economy and Finance of Firms; 4th year; Block 2
- Business Valuation (Advanced Level - Business Valuation-2) - Master's level, Faculty of Economics; Programme: Strategic Management of a Firm's Finances; 1st year; Blocks 3, 4
‘When I Got Out of the Airport and Felt the Cold, I Was Like, “Oh, Welcome to Moscow”’
Ndubuisi Johnbosco Ezenwa, 28, is a recent graduate of the Master’s in Strategic Corporate Finance at the HSE University Faculty of Economic Sciences. In 2023, he won first place in the Finance category of the Student Research Paper Competition (SRPS) for his paper ‘Impact of the Target Firm's ESG Rating on the Bid Premium Paid in M&A Transactions.’ Although he returned to Nigeria in July 2023, Ndubuisi still has plenty to share about his time at HSE University in Moscow. Read on to learn why he recommends HSE University to anyone looking to seek out new knowledge.
Master Programs Tracks Supervisors Met Future Students
Academic supervisors shed light on program structure, elective courses, research seminars, and specializations for the future students of English taught Master's programs at the Faculty of Economic Sciences. The material will be updated as the events progress
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
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