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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 policymakers.
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.
2022/7 The habit that creates a culture of distrust at work by Mayowa T. Babalola
2022/8 Opportunities and pitfalls in digital platforms' geographic expansion: Strategic implications for Kazakhstani platforms by Jiyang Dong
2022/9 Kazakhstan's growing entrepreneurial ecosystem at a glance by Leila Farraj, Aminanur Chaia, Shumaila Yousafazi
2022/10 Women Entrepreneurship in Kazakhstan and beyond Nazarbayev University Research Center of Entrepreneurship (NURCE) by Leila Farraj, Aminanur Chaia, Shumaila Yousafazi
2022/11 Technology Entrepreneurship in Kazakhstan: The Challenges of Adaptation and Re-start by Onajomo Akemu, Atanu Rakshit
2022/12 How women social entrepreneurs are innovating global impact by Leila Farraj, Aminanur Chaia, Shumaila Yousafazi
2022/13 Tourism sector in Kazakhstan: an overview Nazarbayev University Research Center of Entrepreneurship (NURCE)
by Dana Sailaukhanova, Aigerim Yergabulova, Shumaila Yousafzai
2022/14 How community-based tourism can alleviate poverty? by Dana Sailaukhanova and Shumaila Yousafzai
2022/15 Incubation and Acceleration in Kazakhstan: Foreign Ideas, Local Practices in an Emerging Technology Landscape by Onajomo Akemu, Atanu Rakshit, Dauletzhan Baimukhanov.
2023/16 How and to what extent is current entrepreneurship policy?
by Nurlykhan Aljanova.
2023/17 The influence of entrepreneurship education (EE) Policy on women's entrepreneurial activity in Kazakhstan by Shumaila Yousafzai.
2023/18 Entrepreneurship policies of Central Asian countries: The case of Kazakhstan and Uzbekistan by Yelena Muzykina.
by Shumaila Yousafzai, Nurlykhan Aljanova, and Wojdan Omran
by Nurlyaiym Zhaksybayeva
by Alexander Parkyn-Smith
by Yelena Muzykina, Nurlykhan Aljanova, and Shumaila Yousafzai
2023/23 From Streets to Screens: Utilizing Social Media to Transform Sales and
Reach for Women Shuttle Traders in the “Informal Economy”
by Zhansaule Kimel
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
2022/03 Wage dispersion and firm performance: evidence from Kazakhstan by Dinara Alpysbayeva, Jozef Konings, Venkat Subramanian, Aigerim Yergabulova
2022/04 Mountains of Evidence: The Effects of Abnormal Air Pollution on Crime by Birzhan Batkeyev, David R. DeRemer
2022/05 How binding is supervisory guidance? Evidence from the European calendar provisioning by Franco Fiordelisi, Gabriele Lattanzio, Davide S. Mare
2022/06 The Impact of Firm-level Covid Rescue Policies on Productivity Growth and Reallocation by Jozef Konings, Glenn Magerman Dieter, Van Esbroeck
2022/07 Dual Process Intuitions: Consumers’ Belief about Persuasion Processing Drive Morality of Marketing Communications by Zarema Khon, Yi-Ju Chen, Yvetta Simonyan, Haiming Hang, Samuel G.B. Johnson
2023/08 Foreign-owned firms and occupational gender pay inequality by Dinara Alpysbayeva, Galiya Sagyndykova, Aigerim Yergabulova
2023/09 Firm Employment Dynamics in Kazakhstan after Sudden Russian Immigration
by David R. DeRemer, Yelzhas Kadyr, Aigerim Yergabulova
Research Areas
Emerging markets
Financial markets
Research Seminars


TIME: 5 pm - 6 pm

February 2, 2022, Karim Abadir, Imperial College London

Title: Vive la différence! Or how the diversity of firms predicts macroeconomic (and financial) trends and cycles

Area: Econometrics

For Seminar Details Click Here

February 16, 2022, Moses Acquaah, UNC Greensboro

Title: Family Business Research in Africa

Area: Entrepreneurship

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February 23, 2022, Diane Pierret, U. of Luxembourg

Title: The Visible Hand when Revenues Stop: Evidence from Loan and Stock Markets during COVID-19

Area: Finance

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March 16, 2022, Mueid Al Raee, UNU-MERIT, Maastricht

Title: Diversification and Innovation Policy on Natural Resource Rich Countries

Area: Accounting

The seminar was canceled

March 30, 2022, Elia Ferracuti, Duke Fuqua

Title: Investment, Inflation, and the Role of Internal Information Systems as a Transmission Channel

Area: Innovation Policy

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April 6, 2022, Marat Salikhov, New Economic School / Moscow SKOLKOVO

Title: Forecasting Demand Distributions for New Products: Combining Subjective Rankings with Sales Data

Area: Operations Management

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April 13, 2022, Leonid Pugachev, Rochester Institute of Technology

Title: Banking on Culture: How customer culture affects U.S. bank performance

Area: Finance

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April 20, 2022, Arevik Gnutzmann-Mkrtchyan, Leibniz U. Hannover

Title: Use and Abuse of Antidumping by Global Cartels

Area: Economics

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April 27, 2022, Jesus M. Salas, Lehigh U.

Title: Replacing Independent Directors

Area: Finance

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May 4, 2022, George Chondrakis, ESADE Business School
Title: Does more variable compensation prompt more business prospecting by general counsel?
Area: Strategy

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May 5, 2022, Mariya Teteryatnikova, Higher School of Economics
Title: On Perfect Pairwise Stable Networks
Area: Economics

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