Corporate resilience, financial strategies and patterns of inclusive growth for companies in BRICS+ countries

Objective for 2026:

To identify patterns of economic resilience among companies (corporate resilience) and their specific characteristics within comparable industries in the countries of the BRICS+.

Research Tasks:

1. To assess corporate classes in terms of financial sustainability and a set of non-financial factors, as well as patterns of financial decision-making in samples of companies from countries within the BRICS+.

2. To identify the features of corporate governance specific for different patterns of companies within BRICS+.

3. To develop a methodology for identifying corporate classes based on the criterion of digital transformation.

4. To analyze the investment preferences of Russian private investors through the use of machine learning techniques (within the scope of the grant).

5. To organize and systematize the specific aspects of addressing the sustainability challenges of companies when applying Islamic management techniques.

6. To enrich the database of BRICS+ companies.

Expected results of the Research Project

Theoretical results:

- A theoretical framework for classifying and analyzing companies based on their economic sustainability has been established.

- Financial decisions made within different corporate classes of large public companies have been systematized.

- Contributions to the development of a national model for corporate finance in Russia have been made.

- The characteristics of sustainability patterns for companies that apply an Islamic approach to management and financing have been systematized.

Methodological findings:

- A composite index of business economic resilience to structural crises and high levels of uncertainty has been developed for companies operating in emerging markets.

- A methodological framework has been established to analyze patterns of transition towards more efficient corporate classes based on the criteria of resilience and patterns balance in the context of uncertainty and the challenges induced by new globalization trends.

Applied Results:

- The original empirical findings have been obtained, revealing the features of corporate financial decision-making and its relationship to the economic resilience of companies operating in emerging capital markets.

- Contributions have been made to the development of international research collaborations between the Laboratory for Corporate Finance, Faculty of Economic Sciences, the National Research University Higher School of Economics (HSE) and research institutions from BRICS+.

- International scientific workshops have been organized and conducted, bringing together researchers from the Central University of Economics and Finance (CUEF) in Beijing, with potential joint project proposals and publication topics being discussed.

- Presentations have been prepared for international conferences on corporate finance.

- A detailed program for the 4th International Conference on "ESG Corporate Dynamics in Emerging Capital Markets" has been developed.

- Analytical materials have been prepared on the practices of financial decisions and sustainability of companies in BRICS+ countries in a sectoral and temporal context, for discussion at expert roundtables at the Higher School of Economics and further promotion of the obtained results for the practical implementation in Russian companies.

- Materials on financial practices in emerging capital markets have been prepared for the development of cases and discussion with potential partner organizations on the topic of establishing the Case Center at the School of Finance. These materials cover practices which would increase the sustainability of companies facing new geopolitical challenges and digital and ESG transformations in BRICS+ countries. Materials are intended to be used in the educational process at master's level at the Higher School of Economics and other Partner countries' universities, as well as in Continuing Professional Education (CPE) programs at HSE.

- A repository of up-to-date data on risks, sustainability, corporate financial decisions, and corporate governance, boards of directors in Russian companies from 2004 to 2026.