Лекция профессора Сэттлза в Санкт-Петербургском филиале ГУ ВШЭ

Лекция состоится 2 октября 2008 г. в 14-00 по адресу: ул.Союза Печатников, д.16 ауд.301 На английском языке в режиме видеоконференции Александр Мэтью Сеттлз - профессор кафедра общего и стратегического менеджмента. Тема лекции: Effects of the International Credit Crises on the Russian Capital Markets and Russian Publicly Listed Corporations Thesis (Описание) This presentation will examine the development of corporate governance mechanism in Russian companies since the late 1990s and the impact these practices had on the cost of capital for Russian companies that entered the debt and equity markets. The positive changes in Russian corporate governance practices and strong economic growth that has occurred since 1999 have lowered the cost of capital and increased the investment opportunities in the Russian market. By 2007 Russian companies were flooding the market with initial public offerings (IPO) and utilizing international capital markets to finance their expansion and investment activities. With the onset of the credit crisis in late 2007 the transitional markets of Russia, China, Brazil, and India have faced a significant reversal of fortune that is not connected to the underlying economic strength of those markets or the financial health of the industrial corporations operating in those markets. The global economic slow down has spill over to effect the growth rates of these "BRIC" economies. This presentation will examine the impact of the credit crisis, the corporate finance risk associated with the global tightening of credit, and what changes it may cause in the behavior of Russian companies in their corporate finance and governance activities.