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Finance and Credit
 

Digital maturity index for Russian public companies

Vol. 28, Iss. 12, DECEMBER 2022

Received: 5 September 2022

Received in revised form: 13 October 2022

Accepted: 27 October 2022

Available online: 28 December 2022

Subject Heading: Securities market

JEL Classification: G11, G12, G17, G19

Pages: 2873–2898

https://doi.org/10.24891/fc.28.12.2873

Eskander I. GIBADULLIN Financial University under Government of Russian Federation, Moscow, Russian federation
555eskander555@gmail.com

ORCID id: not available

Subject. The article addresses the digital maturity index, which is necessary for measuring the level of digitalization of Russian issuers to further explore the digital premium in current pricing models in the Russian stock market.
Objectives. The purpose is to develop an original model for assessing the level of digital maturity of Russian issuers to compare the efficiency of ongoing digital transformation in the domestic market.
Methods. The study draws on the comparative analysis of data from 51 domestic issuers operating in 11 sectors of the Russian economy.
Results. Based on my original model, I compiled a Digital Maturity Index to rank domestic issuers by the level of digital development. This index enables to analyze the efficiency of digital transformation in general, and to compare companies with their competitors.
Conclusions. The domestic economy has great development potential due to the ongoing digital transformation of Russian companies. The high level of training of domestic specialists in digitalization has contributed to domestic companies being among the pioneers of digital transformation. Companies in the financial and telecom sectors are among the leaders in the digitalization of business in the domestic market. Domestic steel companies also show significant rates of digitalization. The offered digital maturity index model sets the stage for the development of the topic of modern multifactor models that include a company's digital maturity factor.

Keywords: digitalization, digital maturity index, digital premium, factor investing

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