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October 8, 2026
HSE Experts Take Part in 23rd Annual Meeting of Valdai Discussion Club
The 23rd Annual Meeting of the Valdai Discussion Club was held from September 28 to October 1, 2026 under the theme ‘Responsibility for the Future: Limits of the Possible, or Limitless Possibilities?’ The forum brought together 120 experts from 40 countries, including representatives of China, the United States, India, Brazil, the United Kingdom, Germany, Egypt, Iran, and Japan.
October 7, 2026
‘Our Team Consists of True Leaders in Their Respective Academic Disciplines
The HSE International Centre of Decision Choice and Analysis studies a wide range of methods for analysing decision-making and possible scenarios for the development of natural, socio-economic, and political phenomena using various mathematical models. The application of advanced mathematical methods to forecasting helps to prevent negative outcomes and avoid erroneous decisions. The HSE News Service spoke to the centre’s director, Prof. Fuad Aleskerov, about its work.
October 6, 2026
International N5 Symposium ‘Neural Networks and Nonlinearity in Nizhny Novgorod Brings Together Scientists from Russia and Serbia
The International N5 Symposium ‘Neural Networks and Nonlinearity in Nizhny Novgorod’ was held at the Nizhny Novgorod House of Scientists from September 23 to 26. The event was organised by HSE University–Nizhny Novgorod and the Nizhny Novgorod House of Scientists, with the participation of Sberbank and the Institute of Physics Belgrade. The symposium was held for the second time: the first conference took place in 2025 and attracted considerable interest from the academic community.

 

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Assessment of Impact of Economic Sustainability on Shareholder Return and Economic Profit of BRICS Industrial Companies Following Digital Transformation Strategy

International Journal of Technology. 2023. Vol. 14. No. 8. P. 1685–1693.
Grishunin S., Burova E., Suloeva S.

We investigated the impact of Economic Sustainability (ES) practices of digitally oriented industrial companies in BRICS (Brazil, Russia, India, China, and South Africa) in various horizons. The relevance is underpinned by numerous controversies in the literature on the topic. The sample included 257 industrial companies from BRICS in 2017-2021. Economic profit in the long-term and short-term was measured by Total Shareholder Return (TSR) and Economic Value Added (EVA), respectively. We found that the improvements in resource use, enhancements in the workforce and responsible product development had a positive and significant influence on the TSR of BRICS companies. Conversely, we discovered the negative impact of social practices on companies’ EVA. Firms from Brazil and India with stronger ESG practices provided higher returns for shareholders, while there was a significant and negative linkage between ES and EVA for Chinese firms. Cross-industry analysis showed that ESG practices had an additional positive and significant impact on the TSR of firms in the basic materials and technology sectors. However, there was an additional negative and significant impact of ES practices on EVA in consumer cyclical and energy sectors. The novelty is driven by (1) exploring the impact of ESG practices on companies’ value at BRICS; (2) considering previously overlooked metrics of TSR and EVA; and (3) applying granular ES metrics instead of aggregated ones.  

Research target: Economics and Management
Language: English
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Keywords: BRICS economic profittotal shareholder returnESGdigital transformation
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