Olga Kandinskaia is Associate Professor of Finance, MSc Business Management Director and Director of Blended Learning at the CIIM Business School. She has PhD in Economics (1995) from the MGIMO-University in Moscow, Russia.
Originally from Moscow, Russia, Dr Kandinskaia moved to Cyprus in 2001, and she joined CIIM first on a part-time basis in 2002, and then on a full-time basis in 2011. She has 25+ years of experience in teaching undergraduate, postgraduate and executive courses at different universities and colleges in Cyprus, UK and Russia. Olga’s PhD research was in the area of financial derivatives as risk management tools. At that time, she also had practical experience of working as a futures broker. Her current expertise is in the areas of Financial Management, Business Planning, Strategic Investment Decisions, Corporate Finance, and Business Valuation.
Olga is a passionate advocate of innovative teaching methods in business education, such as experiential learning, case method, and blended learning. Her teaching style is highly interactive, she emphasizes customized and practically relevant learning where theory is applied to real-life cases. Her finance classes include extensive Excel-based workshops designed to help students develop solid financial modeling skills. Olga’s teaching skills have earned high scores in student evaluations (recent evaluations are available on request).
Olga is a pioneer at her business school and overall in Cyprus for writing teaching cases about innovative business projects. Olga has received three prestigious international awards in case writing (all three are the first time wins for CIIM Business School and for Cyprus):
- ‘Outstanding New Case Writer’ (2017) for the case about Engino, innovative Cypriot SME – annual international competition by The Case Centre, the top global distributor of cases to universities and business schools;
- ‘Jonathan Welch Award for Best Case in Accounting, Finance and Economics’ (2018) for the case about the innovative project in New York by Zorbas Bakeries – annual international conference of NACRA (North American Case Research Association), the top global academic case research association; in mid-2019 this case was published in the top global case journal Case Research Journal and became the first case in Harvard Business Publishing about a Cypriot company;
- ‘Best Case Gold Award’ (2019) for the case on a crowdfunding campaign led by a female CEO in Belgium (written together with Belgian colleague Dr Huyghebaert) – annual international conference of NACRA (the top award for the best case out of 72 presented at the conference).
In total, Olga has published 8 cases in international peer-reviewed scientific journals. She has presented cases and papers at 17 international peer-reviewed conferences. She is a member of 4 international academic case research associations and is on the 8 editorial boards as reviewer for academic journals and conferences. From 2020, Olga acts as the Chair of the Accounting, Finance and Economics Track of the Annual Meeting of NACRA, the top global case research academic association.
As Director of the MSc in Business Management at CIIM, Olga has created a unique postgraduate programme in Cyprus which has fully embraced a wide variety of experiential learning activities. Olga’s “Learning by Doing” innovative teaching method in business management received honors by Cyprus Education Leaders Awards 2020.
Olga has substantial experience in distance learning education – having developed several online modules for UK-based programmes. At CIIM Olga has supervised the introduction of blended learning via Moodle.
List of Publications
PUBLICATIONS IN INTERNATIONAL PEER-REVIEWED ACADEMIC JOURNALS
- Huyghebaert, N. and Kandinskaia, O. (2019). WDP: Challenge of a Speedy Equity Offering to Finance Growth in the Highly Competitive European Market of Semi-Industrial Real Estate. Business Case Journal of the Society for Case Research, Volume 26 (2), Summer 2019, pp. 12-25. Available via https://www.ignited.global/search?keys=Kandinskaia
- Kandinskaia, O. (2019). Voting to save TRANSAERO, Russian N2 Airline. Journal of Case Studies of the Society for Case Research, Volume 37 (1), Winter 2019, pp. 47-63. Available via https://www.ignited.global/search?keys=Kandinskaia
- Kandinskaia, O. (2019). Zorbas Bakeries (Cyprus): An Option to Expand? Case Research Journal of the North American Case Research Association (NACRA), 39 (2), pp. 1-16. Available via Harvard Business Publishing https://hbsp.harvard.edu/product/NA0585-PDF-ENG?Ntt=&itemFindingMethod=Search (first case in HBP about a Cypriot company)
- Kandinskaia, O., Dementieva, A., Khotyasheva, O. (2019). Norilsk Nickel: the longest corporate war in a leading Russian company. (Corporate Governance) The CASE Journal by Emerald Publishing, Vol. 15, issue 3, pp. 199-226 https://doi.org/10.1108/TCJ-08-2018-0098
- Dementieva, A., Kandinskaia, O., Khotyasheva, O. (2018). Friendly Laser: Can we boost sales? (Strategy) Journal of Critical Incidents of the Society for Case Research, Fall 2018 Volume #11, pp. 97-100. Available via https://www.ignited.global/search?keys=Kandinskaia
- Kandinskaia, O. (2017). Wait or Act Fast? Best Strategy to Recover an Investment. (Personal Finance) Journal of Critical Incidents of the Society for Case Research, Fall 2017 Volume #10, pp. 83-87. Available via https://www.ignited.global/search?keys=Kandinskaia
- Kandinskaia, O. (2017). Financial Troubles at Cyprus Airways. (Accounting) Journal of Case Studies of the Society for Case Research, May 2017, Vol. 35, No. 1, p. 38-49. Available via https://www.ignited.global/search?keys=Kandinskaia
- Kandinskaia, O. (2015). ENGINO Toys: Staying in China or Moving to Europe? (Finance) Business Case Journal of the Society for Case Research, Summer 2015, Volume 23, Issue 2, pp. 6-16. Available via https://www.ignited.global/search?keys=Kandinskaia
- Silver Award by the Cyprus Education Leaders Awards 2020 in the category Β.4 Συνεργασία με Επιχειρηματικούς Φορείς και Οργανισμούς – ‘Learning by Doing’: Virtuous Cycle of Education-Industry Collaboration, 7 October 2020. https://www.ciim.ac.cy/cyprus-education-leaders-awards-2020/
- Bronze Award by the Cyprus Education Leaders Awards 2020 in the category Α.1 Καινοτομία στη Διδασκαλία – ‘Learning by Doing’ Innovative Teaching Method in Business Management at CIIM, 7 October 2020. https://www.ciim.ac.cy/cyprus-education-leaders-awards-2020/
- “Best Case Gold Award” for Sizable case written in joint authorship with Dr Nancy Huyghebaert, NACRA Annual Conference, Tempe, Arizona, USA, 10-12 October 2019 (the top award for the best case out of 72 presented at the conference). https://www.ciim.ac.cy/international-award-for-ciim-professor/
- Jonathan Welch Award for Zorbas Bakeries case, NACRA Annual Conference, Orlando, USA, 4-6 October 2018 – “Best Case in Accounting, Finance and Economics”. https://www.ciim.ac.cy/ciim-professor-wins-acclaimed-international-award/
- Recognition Award from the Multinational Finance Society “Long-Standing Contribution and Commitment to the Society”, 25th Annual Conference of the MFS, Budapest, Hungary, 24-27 June 2018.
- Top prize in the international case writing competition by The Case Centre for 2017 in the category ‘Outstanding New Case Writer’ for Engino Toys case, 27 February 2017 (best case selected from the 28 cases entered in the competition from 25 organisations and 16 countries) http://www.thecasecentre.org/educators/ordering/selecting/featuredcases/CompetitionWinners/ENGINO?ueid=awards17_deans-33
RESEARCH GRANTS AND PROPOSALS
March – June 2018 – Research team member in the Horizon 2020 Teaming Phase 1 project ‘The Establishment of a Transport Analytics Centre of Excellence in Cyprus – TrACE’, Grant agreement number 763568.
RECENT PEER REVIEWED CONFERENCE PAPERS
- Kandinskaia, O. (2020). Vassiliko Cement: Is There a Business Case for a Green Energy Project? Accepted for the NACRA Annual Conference, 8-9 October, 2020, online.
- Kandinskaia, O. and López Lubián, F. (2020). Writing Cases to Teach Finance: Overview of Benefits and Academic Publication Opportunities; Case Example ‘Uber’s IPO 2019: Assessing Value of a Disruptive Innovator’. Presented at the 27th Annual Conference of the Multinational Finance Society (MFS), 28 June – 1 July, 2020, online.
- Huyghebaert, N, and Kandinskaia, O. (2019). Sizable: Crowdfunding Campaign! … Again? Presented at the NACRA Annual Case Research Conference, 10-12 October, 2019, Tempe, Arizona, USA (received Best Case Gold Award).
- Kandinskaia, O. (2018). Zorbas Bakeries (Cyprus): Launching a New Concept Store in New York? Presented at the NACRA Annual Case Research Conference, 4-6 October, 2018, Orlando, USA (received Jonathan Welch Award “Best Case in Accounting, Finance and Economics”).
- Huyghebaert, N. and Kandinskaia, O. (2018). Warehouses De Pauw: Raising Equity for Growth in the Highly Competitive Market of Logistics and Semi-Industrial Real Estate. Presented at the 25th Annual Conference of the Multinational Finance Society (MFS), 24-27 June, 2018, Budapest, Hungary.
- Kandinskaia, O. (2018). Voting to save TRANSAERO, Russian N2 Airline. Presented at the 2018 Annual MBAA International Conference in Chicago, 18-22 April, 2018.
- Huyghebaert, N. and Kandinskaia, O. (2017). Recticel’s Capital Increase: Implementation, Timing, Valuation, and Dividends Dilemma. Presented at the Spring 2017 Conference of the Multinational Finance Society, 7-8 April, 2017, Limassol, Cyprus.
- Kandinskaia, O. (2017). Laiki Bank Capital Securities: Investor’s Risks and Returns on the (Not so) Perpetual Fixed Income Instruments. Presented at the 2017 Annual MBAA International Conference, March 22-24, 2017, Chicago, USA. A revised version was also presented at the 24th Annual Conference of the Multinational Finance Society, 26-29 June, 2017, Bucharest, Romania.
- Dementieva, A., Kandinskaia, O., Khotyasheva, O. (2016). NORILSK NICKEL Case: Corporate War in a Leading Russian Company. Presented at the Spring 2016 Conference of the Multinational Finance Society, 22-24 April, 2016, Limassol, Cyprus.
- Kandinskaia, O. (2016). Bankruptcy of TRANSAERO, Russia’s No.2 Airline: Was it Worth Saving? Presented at the Spring 2016 Conference of the Multinational Finance Society, 22-24 April, 2016, Limassol, Cyprus. A revised version was also presented at the 23rd Annual Conference of the Multinational Finance Society, 26-29 June, 2016, Stockholm, Sweden.
- Kandinskaia, O. (2016). CYPRUS AIRWAYS: Was Poor Management Visible Via Financial Statements? Presented at the 2016 Annual MBAA International Conference, April 13-15, 2016, Chicago, USA.
- Kandinskaia, O. (2015). Choosing Financial Performance Measures for SMEs: Review of Approaches in Empirical Studies. Presented at the Spring Conference of the Multinational Finance Society, Cyprus, Larnaca, 18-19 April, 2015. A revised version was also presented at the 22nd Annual Conference of the Multinational Finance Society, Halkidiki, 28 June – 1 July, 2015.
- Kandinskaia, O., and Sisamos, C. (2014). Does it Make Financial Sense to Bring Manufacturing Back to Europe? A Case Study Illustration of a Strategic Investment Decision at a European SME. Presented at the Symposium of the Multinational Finance Society, Cyprus, Larnaca, 4-5 April, 2014.
- Kandinskaia, O. (2013). Adopting Blended Learning – Practical Challenges and Possible Solutions for Small Private Institutions. Proceedings of the 12thEuropean Conference on E-Learning ECEL, France, Sophia Antipolis, 30-31 October 2013. Available via https://books.google.com.cy/books?id=VaATBAAAQBAJ&lpg=PA164&ots=T974XzYLNK&dq=kandinskaia%20adopting%20blended%20learning&pg=PA164#v=onepage&q=kandinskaia%20adopting%20blended%20learning&f=false
SPEAKER AT OTHER CONFERENCES
- International Faculty Development Programme on Case Study Writing and Teaching by the Institute of Management Studies Ghaziabad, India, online, 12-16 October 2020 http://www.nacra.net/wp-content/uploads/2021/01/NACRA-Newsletter-Jan-2021.pdf (keynote speaker)
- 4th Annual Cyprus Value Investor Conference, 23-24 September, 2019, Grecian Park Hotel, Ayia Napa, Cyprus https://cyprusvalueinvestor.com/ (presentation in English)
- 2019 Annual Conference of the Insurance Institute of Cyprus, 7 November, 2019, Filoxenia Conference Center, Nicosia, Cyprus (short speech in Greek)
- 2018 Annual Conference of the Insurance Institute of Cyprus, 8 November, 2018, Filoxenia Conference Center, Nicosia, Cyprus (short speech in Greek)
- 2017 Annual Conference of the Insurance Institute of Cyprus, 8 November, 2017, Filoxenia Conference Center, Nicosia, Cyprus (short speech in Greek)
- 3rd International Conference on Management, MGIMO-University, Moscow, Russia, February 2000 (“The Use of Futures and Options for Managing Financial Risks” in English)
Olga writes regularly for many local editions on the topics of economy, entrepreneurship and education www.sigmalive.com, www.goldnews.com.cy, www.inews.gr, www.cyprusnews.eu, www.cyprusnewsreport.com.
Olga has been contributor of short articles in English on many current issues in the Cyprus media (in such printed publications as Accountancy Cyprus, Financial Mirror, GOLD Magazine, Cyprus Mail, Cyprus Weekly, as well as online media e.g. http://www.goldnews.com.cy/, http://www.sigmalive.com, http://www.inews.gr, http://cyprusnews.eu, http://cyprusnewsreport.com, http://www.financialmirror.com ).
Here is a sample of Olga’s media articles:
- COVID19: CIIM students overcome challenges on Medochemie case study. Financial Mirror, 12 October 2020 https://www.financialmirror.com/2020/10/12/covid19-ciim-students-overcome-challenges-on-medochemie-case-study/
- Case-Study Award for CIIM Professor. Financial Mirror, 2 November 2019 https://www.pressreader.com/cyprus/financial-mirror-cyprus/20191102/281586652399676 ; CIIM blog https://www.ciim.ac.cy/international-award-for-ciim-professor/
- CIIM-Zorbas MBM Student Project: Learning by Doing
Applying the START WITH WHY theory to ‘real life’ business challenges. Financial Mirror, 14 June 2019 https://www.financialmirror.com/blog-details.php?nid=2258 ; CIIM blog https://www.ciim.ac.cy/zorbas-live-case-project-2019/
- CIIM MBM: A star of innovative experiential learning in business management. Premiere Business, December 2018 – January 2019, pp. 30-33 https://premiere-magazine.com.cy/dr-olga-kandinskaia-ciim-mbm-a-star-of-innovative-experiential-learning-in-business-management/
- Students take on Medochemie challenge for new painkiller strategy. CIIM MSc Business Management: Practical learning via live case projects. Financial Mirror, September 22 – 28, 2018, p. 10.
- How to use ‘nudge theory’ for business success. Financial Mirror, January 31 – February 6, 2018, p. 7.
- Why study business management and why choose MBM? Financial Mirror, 20.09.2017, p. 7.
- CIIM-Zorbas Student Project: Learning by Doing. Financial Mirror, 28.06.2017, p.5.
- Virtuous Cycle of Case Writing: Beneficial Connections between Companies and Business Schools. Financial Mirror, 10.05.2017, p.5.
- Learning about Innovation in an Innovative way. Financial Mirror, 15.03.2017, p.5.
- CIIM-Medochemie Student Project: Learning by Doing. Financial Mirror, 06.07.2016, p.6.
- Ways to Boost Competitiveness in Europe: ENGINO Case. Accountancy Cyprus, Vol 122, pp. 48.
- Choosing the Right Path. The Cyprus Weekly, 25 December 2015, p.85.
- Toy Story: ENGINO is a perfect example of how SMEs can boost competitiveness in Europe. GOLD Magazine, 20 December 2015, p. 77.
- Cyprus Airways through the Eyes of Potential Investors. Financial Mirror, 26.11.2014, p.6.
- A New Cold War: Is Cyprus Prepared? GOLD Magazine, 14 September 2014, p. 82.
- Banks will keep lucrative business, Accountancy Cyprus, Vol 100, pp. 106-108.
CV Dr Olga Kandinskaia (pdf)