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Financial sector evolution and competencies development in the context of information and communication technologies
2020
Arefjevs, I., BA School of Business and Finance, Riga (Latvia) | Spilbergs, A., BA School of Business and Finance, Riga (Latvia | Natrins, A., BA School of Business and Finance, Riga (Latvia | Verdenhofs, A., Riga Technical Univ. (Latvia) | Mavlutova, I., BA School of Business and Finance, Riga (Latvia | Volkova, T., BA School of Business and Finance, Riga (Latvia
The development of information and communication technologies (ICT) has a significant impact on the business model of companies operating in the financial sector. Digital transformation leads to changing existing business model rapidly, as well as necessity of developing new processes specifically related to the use of ICT in business processes, development of new products and updating existing ones. At present, changes in the demand for ICT related processes in financial sector are observed both through the development of different technologies and their applications core or ancillary processes (e.g. innovations in payment systems including crypto currencies, blockchain-assisted smart contract, credit markets and insurance including peer-to-peer lending). Based on the opportunities offered by ICT, new business models need to be developed in the financial sector to transform these capabilities into new products and services that respond to changing customer demand. The aim of research to investigate the changes taking place in financial sector in the light of developments in ICT for acquisition of necessary competencies. Research methodology includes systematic review of scientific literature, analysis of selected financial sector statistics, semi-structured industry expert interviews and statistics analysis. The empirical study is limited to the financial sector of Latvia. Although due to the global nature of the financial sector the research findings could be applied internationally.
Показать больше [+] Меньше [-]Company capital structure’s theoretical framework: historical assessment and trends in the 21st century
2020
Pilvere-Javorska, A., Latvia Univ. of Life Sciences and Technologies, Jelgava (Latvia) | Pilvere, I., Latvia Univ. of Life Sciences and Technologies, Jelgava (Latvia) | Riva, B., Latvia Univ. of Life Sciences and Technologies, Jelgava (Latvia)
Company capital is essential in running business and creating value added for the stakeholders, including economy. How the view on company’s capital structure has evolved from theoretical perspective in the 20th century is needed to be assessed, in order to determine what concepts and theories, if any are relevant in the 21st century. Many theories have competed their way and transformed during the 20th century, while some, i.e. trade-off, signalling and stakeholder theories are still relevant in the 21st century. There are also new trends in the 21st century, new terms and quests shifting from determining and analysing optimal company’s capital structure to sustainable finance, taxonomy and also sustainability in capital structure. Therefore, the aim of this research: to establish existing main theories impacting and analysing company’s capital structure and to examine the theoretical shift of the theories based on the needs in the 21st century. Authors defined company’s capital structure and determined that during the years 1989–2020, number of research publications has grown significantly, thus validating the need to reassess theoretical background of capital structure theories in the 20th century, as well as to help to determine the trends still relative and emerging from the theoretical and practical aspects to company’s capital structure in the 21st century.
Показать больше [+] Меньше [-]Transition financing in agriculture: Baltic country case study
2024
Muižniece, Katrīna | Pilecka-Ulcugaceva, Jovita | Grinfelde, Inga
The sector of agriculture is one of the most crucial in the context of ensuring food security as well as in the care for sustainable development. The food security can be improved through several aspects, one of them being the agriculture system transition, implementing more and more regenerative measures. From the agriculture transition, due to the efforts needed to achieve the expected level of green transition, farmers themselves are expected to benefit less than the future society and nature in a whole. Yet both financial institutions and agriculture companies have not reached a common understanding, what requirements should be in place to establish mutually beneficial financial products to achieve the expected level of transition in a timely manner. The aim of this study is to evaluate funding options for agriculture transition in Baltic countries – Latvia, Lithuania, and Estonia. In total, for screening purposes, 29 different Banks operating in the Baltics were identified. The analysis of the financial product purposes provides a high-level perception, that loans, even if not indicating signs of support for green transition, may still support the improvements of overall country and society sustainability. The expert judgement was used to find potential links with the United Nations Sustainable Development Goals (UN SDGs) identifying the potential SDGs that could be tackled when providing the financing to the specific purpose. Only two banks are observed to provide financial products that can be assessed as focused on green transition, and this research shows that financial products for agriculture companies willing to transition to sustainability are not broadly available.
Показать больше [+] Меньше [-]Corporate social responsibility of agricultural companies of Ukraine under martial law
2024
Zamkova, Iryna | Dubinina, Maryna | Luhova, Olha | Syrtseva, Svitlana | Cheban, Yuliia | Kuchmiiova, Tetiana
One of the main factors thanks to which the Ukrainian economy withstood the powerful beginning of the full-scale military invasion of Russia and has been maintaining courage for more than two years, is the high level of social initiatives of business and self-awareness of Ukrainian society. Agricultural companies not only protect their business, but also continue to work to support the army, their workers, communities and vulnerable population. The article analyses the features of the implementation of corporate social responsibility as a modern business strategy. The specifics of corporate social responsibility practices of agricultural companies have been established, which is aimed at: socio-psychological and financial support for company employees; ensuring the defence capability of the Armed Forces of Ukraine and related structures; humanitarian assistance to internally displaced persons and vulnerable populations; support of territorial communities in the regions of presence. New directions of CSR, the emergence of which was a direct consequence of the war, have been identified and systematized. It has been established that these include: additional emergency leaves; military leaves with retention of compensation; regular emotional check-ins in teams; ‘Ukraine firstʼ case, ‘National Identityʼ case, ‘Ukraine Culture Codeʼ case. It was determined that the essence of these new cases is meaningful national education, support of national identity, raising the level of awareness of Ukrainian cultural heritage and debunking myths about ‘Sovietʼ Ukraine. Furthermore, it was established that the emergence of such practices is connected with a clear understanding of Ukrainian society about the need to rebuild the state after the victory.
Показать больше [+] Меньше [-]The nature of start-ups: Theoretical aspects and an analysis of a survey of population in Latvia
2023
Vonoga, Aija | Zvaigzne, Anda | Cerpinska, Aija
A review of the available literature revealed that there was no information about public opinions on start-ups; therefore, the authors set the main aim to theoretically examine the nature of start-ups and identify the opinions of residents on start-ups in Latvia. The specific research tasks were defined as follows: 1) to conduct a theoretical review of literature on start-ups and the ecosystem thereof in Latvia; 2) to identify the knowledge and opinions of residents aged 18 to 75 about start-ups in Latvia. As part of the present research, the authors conducted a survey in Latvia to identify the population’s knowledge of start-ups, differences between start-ups and other kinds of enterprises as well as the role of start-ups in entrepreneurship. The research employed the monographic and descriptive methods, the descriptive statistics method and a sociological method – an Internet survey using quota sampling. The survey was conducted in January 2023 and involved 1005 respondents throughout Latvia. The survey found that most of the respondents (73%) generally knew or had heard about start-ups and, according to the respondents, the main features that distinguished start-ups from other kinds of enterprises were innovation (54%), use of modern technologies (48%) and fast growth (41%). 63% of the respondents who had heard about start-ups noted that the start-ups, compared with other kinds of enterprises, were generally important for further development of the business environment in Latvia.
Показать больше [+] Меньше [-]Information sources on innovations and innovative activities for entrepreneurship development — views of entrepreneurs in Kurzeme region
2023
Štefenberga, Dace | Sloka, Biruta | Rivža, Baiba
Innovations are very important condition and tool for competitive entrepreneurship. To obtain more effective approaches, researchers are devoting deepened analysis for many factors influencing innovations and innovative activities indicating that there is an important influence on different sources of information on innovations — own company, co-operation with universities and business incubators, with research organisations. Empirical research results were based on survey results of entrepreneurs and on analysis of obtained survey results by use of descriptive statistics indicators confirmed that entrepreneurs in Kurzeme region biggest inspiration get in their own company as well as from suppliers of equipment, programs and materials but they have less influence on information about innovations from universities and other higher education institutions as well as private organisations, also research organisations.
Показать больше [+] Меньше [-]CCAFS approach for climate information services inspired a rural development program in Burkina Faso
2017
CGIAR Research Program on Climate Change, Agriculture and Food Security
The CCAFS Climate Information Services in West Africa project, in collaboration with meteorological services, radio stations, and mobile phone companies, was instrumental to the development of a component dedicated to the use and dissemination of climate information for VALPAPE program in Burkina Faso. A study tour to was organised to the Climate-Smart Villages of Tibtenga (Burkina) and Cinzana (Mali), made up of a group of 20 people from local communities, agricultural services, farmers' associations, national extension services and agricultural research.
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