Economics, Finance and Business Environment (EFBE) conducts applied research in economics, entrepreneurship, family business, and corporate finance. In this field, private initiative projects topical for the economy of Latvia/EU are prioritised, such as economic and business development perspectives in the context of [de-]globalisation trends, Russia’s invasion of Ukraine, and the generative AI in business.
Direction includes business financing and financial market regulations, including international banking supervision standards (e.g., Basel Committee). Research contributes to developing Latvia/EU requirements for financial risk management, managing banking/finance sector risk, ensuring adequate levels of capital and liquidity.
Leading researchers: Professor, Dr Anatolijs Prohorovs, Associate Professor, Lead Researcher, Dr. Natālija Konovalova.
The aim of the field is to carry out applied research in micro and macroeconomics, entrepreneurship, including family business, and corporate finance. In this field, the most relevant research topics for the economy of Latvia and the EU are selected,
for example, economic and business development perspectives in the context of deglobalisation trends and Russia’s war in Ukraine; application of generative artificial intelligence in company operations.
Head of the field:
Professor, Dr Anatolijs Prohorovs
Participants, partners:
- Dr. Levs Fainglozs, Assistant Professor
- Dr. Andrejs Limanskis, Assistant Professor, Researcher
- Dr. Jurijs Spiridonovs, Associate professor, Researcher
- Valerija Kozlova, Doctoral Student at RISEBA
- Dr. Marina Solesvik, Assoc. Prof., Western Norway University of Applied Sciences, Norway
- Dr. Julija Bistrova, Professor of Innovation and Management, RTU
- Students on Bachelor’s and Master’s programmes
Local partners (EFBE direction):
Latvian Chamber of Commerce; Latvian Business Angels Network; Latvian Private Equity and Venture Capital Association; individuals – Dr.Julija Bistrova, Professor of Innovation and Management, RTU; Dr.Svetlana Saksonova, University of Latvia; Aina Čaplinska, Daugavpils University.
International partners (EFBE direction):
Anadolu University and Halic University, Turkey; Škoda University, Czechia; Copernicus University, Poland; Vaasa University and School of Accounting and Finance, Finland; individuals: Assoc.prof.,Dr.Marina Solesvik, Western Norway University of Applied Sciences; D.Aubakirova, PhD student, Almaty Management University, Kazakhstan.
The relevance of this research area is based on the continuous development of the financial and banking systems and their interaction with the external environment. Obviously, the series of shocks due to crises, including the COVID 19 pandemic, has called for new regulatory approaches, which are currently focused on achieving financial stability, overcoming pro-cyclicality, mainly in the banking sector. One of the most recent directions in the regulation of the banking sphere is the introduction of international standards for banking supervision recommended by the Basel Committee, which have transformed from Basel 1, Basel 2, Basel 2.5 and Basel 3 to Basel 4. The Basel 3 and Basel 4 Standards are dedicated to increasing requirements in the area of financial risk management, requirements for assessing and managing banking sector risk, ensuring adequate levels of capital and liquidity, including a specific management regime for the post-crisis period.
Head of the field:
Associate Professor, Lead Researcher, Dr. Natālija Konovalova
Participants:
- Assoc.prof., Dr. Aina Čaplinska, Daugavpils University
- Prof., Dr. Mustafa Akan, Haliç University (Turkey)
- Prof., Dr. Svetlana Saksonova, University of Latvia
- Damira Aubakirova, PhD Student, Almaty Management University (Kazakhstan)
- Prof., Dr. Nino Mikiashvili,Ivane Javakhishvili Tbilisi State University (Georgia)
- Students on Bachelor’s and Master’s programmes
Local partners (EFBE direction):
Latvian Chamber of Commerce; Latvian Business Angels Network; Latvian Private Equity and Venture Capital Association; individuals – Dr.Julija Bistrova, Professor of Innovation and Management, RTU; Dr.Svetlana Saksonova, University of Latvia; Aina Čaplinska, Daugavpils University.
International partners (EFBE direction):
Anadolu University and Halic University, Turkey; Škoda University, Czechia; Copernicus University, Poland; Vaasa University and School of Accounting and Finance, Finland; individuals: Assoc.prof.,Dr.Marina Solesvik, Western Norway University of Applied Sciences; D.Aubakirova, PhD student, Almaty Management University, Kazakhstan.
The aim of the field is to conduct applied research on the creation, growth, and sustainability of enterprises, with a focus on innovation, regional and international development, and the role of entrepreneurship in economic transformation. Research topics address challenges and opportunities relevant to Latvia and the EU, such as fostering entrepreneurial ecosystems, promoting social and green entrepreneurship, and supporting SME competitiveness in the context of digitalisation and global value chain shifts.
Participants:
- Dr. Inna Majoor-Kozlinska, Assoc.Prof., Lead Researcher
- Dr. Mārtiņš Veide, Assoc.Prof., Lead Researcher
- Students on Bachelor’s and Master’s programmes
Local partners (EFBE direction):
Latvian Chamber of Commerce; Latvian Business Angels Network; Latvian Private Equity and Venture Capital Association; individuals – Dr.Julija Bistrova, Professor of Innovation and Management, RTU; Dr.Svetlana Saksonova, University of Latvia; Aina Čaplinska, Daugavpils University.
International partners (EFBE direction):
Anadolu University and Halic University, Turkey; Škoda University, Czechia; Copernicus University, Poland; Vaasa University and School of Accounting and Finance, Finland; individuals: Assoc.prof.,Dr.Marina Solesvik, Western Norway University of Applied Sciences; D.Aubakirova, PhD student, Almaty Management University, Kazakhstan.