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Research NUGSB

NUGSB’s objectives stem from three main, mutually intertwined categories – teaching, research and service. In order to train and prepare the new generation of managers, entrepreneurs, and leaders of Kazakhstan and the region, the school puts cutting edge research at the heart of its mission. By engaging in world-class research in the fields of management, finance and economics, our faculty translates global knowledge into local context. Research-informed teaching also serves society by producing future professionals who are flexible and open to new ideas. For this purpose, we strive to attract research driven faculty and create a culture where good research ideas are turned into great research outcomes. In the growth period, the focus of NUGSB will be on three main areas: Entrepreneurship and Emerging Markets.

Entrepreneurship remains a priority in most economies, and particularly so in the context of Kazakhstan as recognized in the 2050 Strategy document proclaimed by President Nazarbayev. Kazakhstan is in a process of transition from an economy dominated by public sector to one more driven by small and medium enterprises. There is widespread evidence that the growth engines of an economy are not large companies, but the many small entrepreneurs who launch their small and medium scale businesses. Entrepreneurship is a broad topic that includes many disciplines such as innovation, technology, strategy, marketing, venture financing, and economics, among others. Given this, we would like to set up a research program around the issues of entrepreneurship in Kazakhstan and bring the best practices from around the world.

The second topic that will be researched at NUGSB in the next few years is Emerging Markets. This is again a broad topic that covers a variety of issues such as how companies in emerging markets develop their own capabilities, expand abroad, and gain and sustain their long-term competitiveness. These are issues that also resonate with firms in Kazakhstan, and the broader economy as a whole. We are assembling a roster of faculty who are looking issues of Emerging Markets from different perspectives and disciplines, with the goal of understanding how best practices from other emerging markets can be applied to Kazakhstan.

The third area of research is the Financial Markets. Research and teaching in this area would cover key aspects of financial markets development, corporate finance and financial literacy. In this context, it is envisaged to establish a Financial Markets Center at GSB. Financial markets reform and development is also a key policy area of the government in Kazakhstan. The International Financial Center Astana was launched in 2018, and the new Financial Markets Center would be a natural complement and enabler for the Astana Financial Center. Within the Financial Markets Center, it is also planned to set up a Finance Lab that will contain a variety of data sources, finance tools, business news, market intelligence, investment products. The Finance Lab will be primarily an instructional and training facility for local students and professionals that want to further a career in finance.

NUGSB Business Digest

The Business Digest Series reports short pieces on research from GSB faculty, highlighting the key take-aways and policy implications, relevant for the wider business community and policy makers.

2021/1 Do prices rise faster than they fall? by Joep Konings and co-authors

2021/2 Building Character: The Formation of a Hybrid Organizational Identity in a Social Enterprise by Joep P. Cornelissen, Onajomo Akemu, Jeroen G. F. Jonkman and Mirjam D. Werner

2021/3 Opportunities for Cooperation in Removing Prohibitive Trade Barriers by David De Remer

2021/4 Does corporate social responsibility engender trust? Evidence from investor. Reactions to corporate disclosures by Atanu Rakshit, Doron Israeli and co-authors.

2021/5 How families help us thrive at work: Understanding the long reach of family support and family incivility on employee at work by Mayowa T. Babalola.

2021/6 Is there market support for corporate vaccination mandates? by Gabriele Lattanzio.

NUGSB working papers

2021/01 The granular economy of Kazakhstan by Jozef Konings, Galiya Sagyndykova, Venkat Subramanian, Astrid Volckaert

2021/02 M&A and Cybersecurity Risk: Empirical Evidence by Gabriele Lattanzio, Jérôme P. Taillard

Research Areas


Emerging markets

Financial markets

Research Seminars


TIME: 5 pm - 6 pm

September 1, 2021, Riccardo Valboni, Utrecht University

Title: Responsible Blockholders, CEOs, and Tax-Motivated International Relocations of Corporate Headquarters: A Social Identity Perspective

Area: Strategy

For Seminar Details Click Here

September 8, 2021, Bukky Akinsanmi, U. Texas,-Austin, McCombs School of Business

Title: Perceptions of Knowledge Transferability and Entrepreneurial Entry: The Role of Firm-Initiated Turnover

Area: Strategy

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September 15, 2021, Aziz Alimov, IESEG School of Management

Title: Expected Stock Returns and Corporate Acquisitions

Area: Finance

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September 22, 2021, Udari Ekanayake, Monash Business School

Title: Are We All in This Together? CEO Narcissism and Voluntary Paycuts

Area: Strategic Leadership

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Special Time: 12:30 - 13:30

September 29, 2021,Onajomo Akemu, NUGSB

Title: What Do We Do When They Shed Tears?

Area: Organizational Theory

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October 6, 2021, Jerome Taillard, Babson College

Title: The Day that WTI Died: Asset Prices and Firm Production Decisions

Area: Finance

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Special Time: 7 pm - 8 pm

October 7, 2021, Onajomo Akemu, NUGSB

Title: What Do We Do When They Shed Tears?

Area: Organizational Theory

For Seminar Details Click Here

October 19, 2021, Bill Megginson, Oklahoma University

Title: Selling Indulgences: The Political Economy of Tariff Exemption Grants

Area: Finance

Special Time: 8am-9am local time (UTC+6)

For Seminar Details Click Here

October 20, 2021, Andrew N. K. Chen, Kansas U. School of Business

Title: Preventing Organizational Knowledge Leakage: The Influence of Knowledge Seekers’ Awareness, Motivation, and Capability.

Area: Operations Managament

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October 27, 2021, Nathan Betancourt, University of Amsterdam

Title: What causes a star to shine? Evidence from the Manhattan Project

Area: Organizational Theory

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November 3, 2021, Sudeep Ghosh, Hong Kong Polytechnic U.

Title: Does Regulation Hinder Reputation Building? An Investigation of the Impact of Governance on Signaling by Managers

Area: Economics / Finance

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November 10, 2021, Franco Fiordelisi, Essex Business School

Title: Pandemic Lending: The Unintended Effects of Model-based Regulation

Area: Finance

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November 17, 2021, Márta Bisztray, Hungarian Academy of Sciences

Title: Automated Information Sharing and Supplying Multinationals: Evidence from Firm‐To‐Firm Data

Area: Economics

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November 24, 2021, Aris Stouraitis, Hong Kong Baptist U. School of Business

Title: Anticipating Acquirers

Area: Finance

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February 3, 2021, Birzhan Batkeyev, ISE KBTU

Title: Student Debt and Stock Market Participation

Area: Economics / Finance

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February 10, 2021, Mustafa Karatas, NUGSB

Title: "Experiential (versus Material) Products Promote More Sustainable Consumer Behavior"

Area: Marketing

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February 17, 2021, Balázs Muraközy, U. of Liverpool Management School

Title: "The nature of buyer-supplier relationships: Lessons from the Central European Supplier Survey"

Area: Economics

February 24, 2021, Valentina Fani, Université de Lausanne

Title: "Do remedies hurt the performance of M&As? Evidence from M&As scrutinized by the EU competition authority."

Area: Strategy

March 3, 2021, Thierry Post, NUGSB

Title: "Risk Arbitrage Opportunities for Stock Index Options"

Area: Finance

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March 17, 2021, Jeroen Van den bosch, IMEC / University of Leuven

Title: "The Impact of Innovation on Productivity: Profitability and Technical Efficiency"

Area: Economics / Strategy

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March 31, 2021, Michal Czerwonko, NUGSB

Title: "Tail Risk, Almost Stochastic Dominance and Index Option Anomalies"

Area: Finance

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April 7, 2021, Samer Abdelnour, U. of Edinburgh Business School

Title: "Researching violent contexts: a call for political reflexivity"

Area: Organization Theory

Time: 5 pm

April 14, 2021, Mayowa Babalola, NUGSB

Area: Human Resources Management

April 21, 2021, Jose Faias, Católica Lisbon School of Business and Economics

Area: Finance

April 28, 2021, Thomas Conlon, University College Dublin

Area: Finance

May 5, 2021, Stylianos Perrakis, Concordia U., Molson School of Business

Title: Stochastic Dominance in the Frictionless World: A Research Agenda

Area: Finance

May 12, 2021, Valerio Poti, University College Dublin

Title: The Greenspan Put

Area: Finance

May 19, 2021, Aziz Alimov, IESEG School of Management

Area: Finance

May 26, 2021, Stelios Arvanitis, Athens University of Econ and Business

Title: Ordering Arbitrage Portfolios and Finding Arbitrage Opportunities

Area: Finance