Corporate Governance, SME Regulation: Participants of the International Laboratory of Intangible-driven Economy at HSE Perm presented research findings at EMC-2024
From October 1 to 5, the 11th International Conference GSOM Economy & Management took place in St. Petersburg, organized by the Graduate School of Management at St. Petersburg University (GSOM SPbU). Researchers from the International Laboratory of Intangible-driven Economy presented their reports at the conference: Senior Researcher Marina Zavertiaeva, Junior Researcher Dmitry Kirpishchikov, and Research Assistant Daria Usmanova.
The theme for 2024 was "Economy, Management, Finance: Sustainability and Efficiency in the Period of Turmoil". Within the sessions, topics such as the impact of economic, political, and environmental uncertainties on company strategies, the role of financial innovations in ensuring resilience and efficiency, international cooperation during crises, and many others were discussed. The EMC conference serves as an international platform attracting researchers and practitioners from around the world, providing unique opportunities for sharing scientific achievements and practical solutions in the face of global challenges.
Dmitry Kirpishchikov presented the findings of a joint study with Marina Zavertiaeva and Petr Parshakov titled "Determinants of Prosecutors’ Inspections in Russian SMEs," conducted under the grant RNF No. 23-78-10149 ("Factors for Intensifying SME Resources under External Uncertainty"). This work analyzes the factors influencing the likelihood of prosecutor inspections in small and medium-sized enterprises in Russia. The study revealed that companies with state participation are more frequently subjected to such inspections. Thus, institutional factors play a significant role in business regulation.
Daria Usmanova and Marina Zavertiaeva delivered a presentation titled "Impact of CEO Characteristics on Imitation Behavior Regarding Capital Structure," co-authored with research intern Egor Ivanov. The study simultaneously tests two behavioral concepts explaining a company's choice of capital structure: the theory of information cascades and the concept of the influence of managers' personal qualities. The results demonstrate that a manager's personality can weaken a company's following of the industry value of financial leverage.
Marina Zavertiaeva, Senior Researcher of the International Laboratory of Intangible-driven Economy
This year, the EMC conference attracted significantly more offline participants compared to 2023. The sessions dedicated to strategic finance featured lively and meaningful discussions of the presented works. The opportunity to meet with colleagues from other universities and campuses of the Higher School of Economics was particularly valuable. I was especially impressed by the round table dedicated to my research topic – issues of corporate governance in Russia, where fascinating topics were discussed, ranging from a general analysis of governance development to changes in board compositions in response to sanctions pressure and the ranking of companies based on textual data.