International Conference New Challenges of Economic and Business Development – 2012
May 10 – 12, 2012, Riga, University of Latvia
Conference is organised by Faculty of Economics and Management, University of Latvia in cooperation with
Latvian European Community Studies Association
Institut CEDIMES – Lettonie
Econometrists Association of Latvia
Professional Association of Project Managers
Latvian Information and Communications Technology Association
Association of Statisticians of Latvia
The aim of the conference is to discuss results of scientific research in economic and management issues, to establish new contacts and develop research cooperation. The work of the conference is organised in opening plenary session, parallel sessions, poster sessions and concluding plenary session. Competition for the best doctoral student poster/presentation in each session is organised and winners will be congratulated at the concluding plenary session. Conference proceedings are organised and are available on CD, on conference webpage and printed version in library. All conference papers are double blind reviewed. Conference language is English.
The work of the conference will be organised in the parallel sessions:
1. Quantitative Analysis Methods and Modelling
Chairs: Natalia Kuznetsova, Ludmila Bandeviča, Irina Arhipova, Galina Chernova
2. Finance, Banking and Accounting
Chairs (sub-session 2.1.): Tomas Haldma, Inta Brūna, Dagnija Daņēviča
Chairs (sub-session 2.2.): Tiiu Paas, Elvīra Zelgalve, Ramona Rupeika-Apoga
3. Human Development and Management Education
Chairs: Arild Sæther, Inesa Vorončuka, Viesturs Pauls Karnups, Ismena Revina
4. International Economics and Globalization
Chairs: Dainora Grundey, Baiba Šavriņa, Ērika Šumilo
5. Marketing
Chairs: Ligita Šimanskiene, Biruta Sloka, Valērijs Praude, Daina Šķiltere
6. Public Administration, Taxation and Budget
Chairs: Rasa Daugeliene, Inga Vilka, Alari Purju, Lūcija Kavale
7. Sustainable Development and Tourism
Chairs: Peter Reusch, Elena Dubra, Juris Brencis
8. Management and Innovations
Chairs (sub-session 8.1.): Gundars Kaupins, Andris Deniņš, Edgars Brēķis
Chairs (sub-session 8.2.): Maaja Vadi, Jānis Priede, Kārlis Purmalis
9. Business Information and Social Media Management
Chairs: Erick Schoop, Uldis Rozevskis, Signe Bāliņa
Prof. Tiiu Paas (Tartu University, Estonia). Attitudes Toward Immigrants in Europe: how Tolerant are Societies to Diversities as Possible Determinant of Economic Growth
Prof. Dainora Grundey (Mykolas Romeris University, Lithuania). Small and Medium Business Development in Lithuania: Challenges for Coping with Economic Crisis
Asoc. prof. Signe Bāliņa (University of Latvia, President of The Latvian Information and Communications Technology Association). Inclusive Information Society in Latvia
Prof. Baiba Šavriņa (University of Latvia), Prof. Bernd Hofmann (Universitates Lyon 1, France). Comparison between Business Environment in Latvia and France. Presentation together with French and Latvian students
Conference Programme Committee
Māris Purgailis, University of Latvia
Jean D. Avenel, University Paris XII (France)
Howards R. Balanoff, Texas State University (USA)
Ludmila Bandeviča, University of Latvia
Inta Brūna, University of Latvia
Gaļina Černova, St Petersburg State University (Russia)
Rasa Daugėlienė, Kaunas University of Technology (Lithuania)
Džineta Dimante, University of Latvia
Elena Dubra, University of Latvia
Dainora Grundey, Mykolas Romeris University (Lithuania)
Tomas Haldma, Tartu University (Estonia)
Arto Haveri, Tampere University (Finland)
Žaneta Ilmete, University of Latvia
Gundars Kaupins, Boise University (USA)
Lūcija Kavale, University of Latvia
Vaclav Kulhavy, Masaryk University (Czech Republic)
Juris Krūmiņš, Vice Rector, University of Latvia
Natalija Kuzņecova, St Petersburg State University (Russia)
Tatjana Muravska, University of Latvia
Joseph Neuert, University of Applied Sciences Kufstein (Austria)
Tiiu Paas, Tartu University (Estonia)
Jānis Priede, University of Latvia
Alari Purju, Tallinn University of Technology (Estonia)
Jack Reardon, Hamline University, School of Business (USA)
Peter Reusch, Dortmund University (Germany)
Ismena Revina, Univesity of Latvia
Uldis Rozevskis, University of Latvia
Eric Schoop, Dresden Technical University (Germany)
Bruno Sergi, Messina University (Italy)
Rasa Snapstiene, Kaunas University of Technology (Lithuania)
Biruta Sloka, University of Latvia
Arild Sæther, Kristiansand University (Norway)
Baiba Šavriņa, University of Latvia
Ligita Šimanskienė, Klaipeda University (Lithuania)
Roberts Škapars, University of Latvia
Daina Šķiltere, University of Latvia
Ērika Šumilo, University of Latvia
Maaja Vadi, Tartu University (Estonia)
Inga Vilka, University of Latvia
Inesa Vorončuka, University of Latvia
Claudia B. Wöhle, University of Salzburg (Austria)
Elvīra Zelgalve, University of Latvia
Conference Organizing Committee
Džineta Dimante, University of Latvia
Anda Batraga, University of Latvia
Irina Bausova, University of Latvia
Kaspars Čikste, University of Latvia
Mārtiņš Danusēvičs, University of Latvia
Anita Jankovska, University of Latvia
Santa Jastrebova, University of Latvia
Ella Jēkabsone, University of Latvia
Ināra Kantāne, University of Latvia
Tatjana Muravska, University of Latvia
Māris Purgailis, University of Latvia
Jānis Priede, University of Latvia
Uldis Rozevskis, University of Latvia
Biruta Sloka, University of Latvia
Darja Tretinko, University of Latvia
Jūlija Vladimirova, University of Latvia
Rita Žuka, University of Latvia
International Scientific Conference Program 
Detailed Programme of the Conference
Thusday, 10 May, 2012
17:30 Registration for the Conference (Lobby, Raiņa bulv. 19)
18:00 Welcome Cocktail (hosted by dean Māris Purgailis) and Participants Networking
Friday, 11 May, 2012
08:30 – 10:00 Registration for the Conference (Lobby, Raiņa bulv. 19)
10:00 – 12:00 Plenary Session (Small Aula, Raiņa bulv. 19)
Chair: Māris Purgailis, Dean of Faculty of Economics and Manage¬ment, University of Latvia
Opening greeting by Mārcis Auziņš, Rector of University of Latvia
Prof. Tiiu Paas (Tartu University, Estonia). Attitudes Toward Immigrants in Europe: how Tolerant are Societies to Diversities as Possible Determinant of Economic Growth
Prof. Dainora Grundey (Mykolas Romeris University, Lithuania). Small and Medium Business Development in Lithuania: Challenges for Coping with Economic Crisis
Asoc. prof. Signe Bāliņa (University of Latvia, President of The Latvian Information and Communications Technology Association). Inclusive Information Society in Latvia
Prof. Baiba Šavriņa (University of Latvia), Prof. Bernd Hofmann (Universitates Lyon 1, France). Comparison between Business Environment in Latvia and France. Presentation together with French and Latvian students
12:00 – 14:00 Lunch (Cafe “Daily”, Raiņa bulv. 19)
14:00 – 15:45 Work in Parallel Sessions – Part I (Faculty of Economics and Management, Aspazijas bulv. 5)
15:45 – 16:15 Coffee Break
16:15 – 18:00 Work in Parallel Sessions – Part II (Faculty of Economics and Management, Aspazijas bulv. 5)
19:00 Reception for Conference Participants hosted by Mārcis Auziņš, Rector of University of Latvia
Saturday, 12 May, 2012
09:30 – 11:30 Concluding Plenary Session (Small Aula, Raiņa bulv. 19)
Chair: Inga Vilka
Chairs of the sessions present main findings from the presentations and gained knowledge about new challenges of economics and business development
Presentations of best papers in each section (determined by session chairs)
11:30 – 12:00 Coffee Break
13:00 – 20.00 Field trip, participants networking
Parallel sessions
1. Quantitative Analysis Methods and Modelling, room 322
Chairs: Natalia Kuznetsova, Ludmila Bandeviča, Irina Arhipova, Galina Chernova
Reports:
1) Mindaugas Dapkus, Jonė Kalendienė. Evaluation of Baltic Economies’ Overheating: Idea of Structural Deviation
2) Vladimer Glonti, Badri Gechbaia. Method of Estimation of Business Value (by Example of the Regional Insurance Companies)
3) Kirils Kondratovs. Asymmetric Shocks’ Impact on Latvian Banking System Financial Stability 
4) Nana Akhalaia, Nino Liparteliani. Methodological Issues of Regional Demographic Improvement
5) Ilja Teterko. Natural Gas Price Formation and It Prediction in Latvia Using Fundamental and Technical Analysis
2. Finance, Banking and Accounting
Chairs (sub-session 2.1.): Tomas Haldma, Inta Brūna, Dagnija Daņēviča, room 320
Reports:
1) Reimar Pfalz-Liebert. Risk-Ratios and Their Relevance for Financing Real Estates 
2) Ivita Faituša. Internal Auditing in Local Governments 
3) Irina Bērzkalne. Theories of Optimal Capital Structure: Assessment and Application 
4) Inna Romānova. Leverage Dynamics and the Macroeconomic Conditions 
5) Gabriele Hahne. The Effects of the External Quality Control on the Auditor Market in Germany, Latvia and Austria 
6) Jens Wingenfeld. The Role of New Passive Investment Tools within the Modern Portfolio Management Process
7) Maria Tissen, Ruta Šneidere. The Development and Formation of Financial Science in a World Context 
Chairs (sub-session 2.2.): Tiiu Paas, Elvīra Zelgalve, Ramona Rupeika-Apoga, room 308
Reports:
1) Natalia V. Gortseva, Irina I. Dobroserdova. The Financial Architecture and the Internal Capital Market in Russian Business Groups: Characteristics and Integration in the Budgeting Process 
2) Tatiana Maidan. Development Finance Institutions: Role in Russian Economics Modernization 
3) Marina Kudinska. Analysis of Financial Leverage in Commercial Banks of Baltic Countries
4) Lada A. Podolyanets. The Depositary Policy of the Russian Banks
5) Malcolm Gammisch. Certification of Compliance Management Systems and Compliance Personnel 
6) Ramona Rupeika-Apoga. Latvia’s Banking Sector in the Changing Environment 
3. Human Development and Management Education, room 305
Chairs: Arild Sæther, Inesa Vorončuka, Viesturs Pauls Karnups, Ismena Revina
Reports:
1) Valentina Simkhovich. Demands for Improving Management Education in Belarus 
2) Sandrina B. Moreira, Nádia Simões, Nuno Crespo. Composite Indicators of Development – The Importance of the Weights 
3) Katharina Priesner. Dual-Career Support
4) Irina Lando. Practical Use of Innovative Methods of Instruction for Personnel Training from the Point of View of Human Capital Development in Organisations 
5) Beāte Ramiņa, Biruta Sloka, Alina Gržibovska. Foreign Students at University of Latvia – Important Part of the University 
6) Sandrina B. Moreira, Nuno Crespo. Development Economics – From the Traditional Approaches to the New Concepts 
7) Andrea Mewaldt. Vocational Educational Training (VET) in Emerging Markets. The Market-Oriented and Innovative Approach to Interna-tionalization of Educational Services
4. International Economics and Globalization, room 121
Chairs: Dainora Grundey, Baiba Šavriņa, Ērika Šumilo
Reports:
1) Irina Solovjova, Ramona Rupeika-Apoga. The Crisis Impact on International Rating Agencies: New Tendencies and Problems 
2) Henrique Schneider. A Hayekian View on the Middle Income Trap
3) Mariya Lebedeva. Investment Decisions in Emerging Markets from Behavioural Theory’s Point of View
4) Inese Brante. Income Inequality Changes Between and Within Transition Countries
5) Alise Vītola, Maija Šenfelde. Social Dimension of Institutions
6) Larisa A. Ilyina. Deformation of a Salary and Compensation of Expenses of Labour in the Industry in Terms of Reforming
7) Alekss Tiltiņš. The Combination of Special Economic Zones and Defence Industrial Clusters within the Framework of Defence Economy
5. Marketing, room 519
Chairs: Ligita Šimanskiene, Biruta Sloka, Valērijs Praude, Daina Šķiltere
Reports:
1) Jochen Katz. Trust Marketing: A New Marketing Framework to Increase Sales Process Throughput for High-Risk Products 
2) Hasan Gilani. Impact of Organizational Learning on the Corporate Brand of the Organization
3) Renate Vidruska. Dynamic Pricing Online: Evidence from Latvia
4) Sandra Heiden. Hotel-Customers’ Decision-Making: Influence of Guest Segmentation and Targeted Communication
5) Knut Linke. A Structural Approach for Online Surveys – Validate, Motivate and Provide Trust 
6) Elena M. Armendia-Muneta. Understanding the effects of Word-Of-Mouth in E-Marketing
6. Public Administration, Taxation and Budget, room 423
Chairs: Rasa Daugeliene, Inga Vilka, Alari Purju, Lūcija Kavale
Reports:
1) Ilmārs Šņucins. Role and Efficiency of Personal Income Tax Reliefs in Promoting Social and Employment Goals in Latvia 
2) Eduards Gross. Revenue Component of the Municipal Finance Equalization Fund – Positive Factors and Risks of Real Estate Tax
3) Lūcija Kavale. Efficient Division of Tax Revenues among Budgets
4) Andris Ozols, Jānis Eglītis, Elena Ozola. Triple Helix Model of Innovative Development: Role of Local Governments in Latvian Regions 
5) Lilita Seimuškāne. Citizen Participation Self-Assessment Options in Local Governments 
6) Kirils Kondratovs. Asymmetric Shocks’ Impact on Latvian Banking System Financial Stability
7) Maris Pukis, Inara Dundure. Sustainability of Pension System 
7. Sustainable Development and Tourism, room 424
Chairs: Peter Reusch, Elena Dubra, Juris Brencis
Reports:
1) Tatjana Sudova. Human Capital and Sustainable Development 
2) Iveta Vanaga. Challenges and Problems of Tourism Statistics in Latvia
3) Günter Salchner. Governance and Innovative Tourism Development
4) Justs Dimants, Biruta Sloka, Jānis Kleperis, Ilze Dimanta, Jānis Kleperis Jr., Māra Gudakovska, Pēteris Tora. Opportunities of Hydrogen Marketing – Public Opinion Analysis 
5) Elina Lice. Consumption Behavior in Families with Young Children in Latvia
6) Alda Ozola. Factors Influencing Public Participation in Environmental Governance: Key Conclusions from Desk Research and Assessment of Situation in Latvia
7) Daira Barānova. Effects of Economic Crisis on Employment in EU and Latvia
8. Management and Innovations
Chairs (sub-session 8.1.): Gundars Kaupins, Andris Deniņš, Edgars Brēķis, room 518
Reports:
1) Andreas Michael Giesa, Inesa Voroncuka. Determinants of Team Performance in Business Organization Empirically Researched Under Influence of Behavior – Validated in an European Environment 
2) Carolin Kuhn. Innovation Power and Values-Based Management
3) Manuel Woschank. The Impact of Increased Efficiency in Logistics Planning Operations on Logistics Performance
4) Alexander Stelzer. Critical Factors of Supply Chain Management and Strategies in the Food Industries – Development of a Decision Support System for Strategic Management of Agricultural Raw Material Culture 
5) Christopher Hoeckel. The Impact of Personality Traits and Behavioral Patterns on the Efficiency Outcomes of Business Management Decision Making 
6) Hans-Jürgen Brenninger. Company Value and Employee Satisfaction: Exemplary Case Study Findings 
7) Barbara Wagner. Impacts of Leadership Behaviour on Subordinate Motivation
Chairs (sub-session 8.2.): Maaja Vadi, Jānis Priede, Kārlis Purmalis, room 225
Reports:
1) Arnis Lagzdiņš. Compliance Risk Oversight: Organizational Challenges for Banking Boards in Latvia 
2) Laura Kersule, Biruta Sloka, Iluta Skruzkalne. Role of Personnel Motivation Policy for Employees’ Productivity of Big Company 
3) Ludwig Gold. A Model to Link Organizational Culture Types with Strategy Implementation Factors
4) Anton Mandl. Side Effects of Corporate Culture in Technical Services Firms on the Employee Typology 
5) Hans-Peter Oehl. Systematization of Life Cycle Approaches 
6) Moritz Lang. Empirical Analysis of the Influence of Regulatory Circumstances on Product Lifecycle Management Options for the Pharmaceutical Industry in Germany
7) Irena Vaivode. Innovation and Productivity 
9. Business Information and Social Media Management, room 302
Chairs: Erick Schoop, Uldis Rozevskis, Signe Bāliņa
Reports:
1) Marion Tenge. Social Software Platforms as Motor of Operational Airport Efficiency? – A Conceptual Framework 
2) Claudia van der Vorst. Approach for Selecting ERP Software at Mid-Size Companies Reflecting Critical Success Factors 
3) Stefan Schwerd. The Impact of Electronic Communication within Organizations’ Media on Managerial Leadership Behaviour 
4) Christoph Staita. Coherent Team Structure in a Three-Dimensional CAD New Product Development (NewPD) Environment 
5) Karl-Ludwig Hahne. The Impact of Data Protection Measures on Small and Medium-Sized Enterprises
6) Signe Balina, Sarmite Mickevica. Competitiveness Analysis of Latvia ICT Industry
15:45 – 16:15 Coffee Break
16:15 – 18:00 Work in Parallel Sessions – Part II (Faculty of Economics and Management, Aspazijas bulv. 5)
1. Quantitative Analysis Methods and Modelling, room 322
Chairs: Natalia Kuznetsova, Ludmila Bandeviča, Irina Arhipova, Galina Chernova
Reports:
1) Maraver-Tarifa Guillermo, Angeles Muñoz-Fernandez, Rocio Llamas-Sanchez. An Integrative Model of the Innovation Process in Public Organizations 
2) Florian Speigel. Decisions under Uncertainty: The Influence of Fear on the Investment Decision
3) Juris Ulmanis. ICT Adoption Model – Applicability to Crisis Period 
4) Mārtiņš Danusēvičs. Use of Cluster Analysis in Designation of Trade Areas
2. Finance, Banking and Accounting, room 320
Chairs (sub-session 2.1.): Tomas Haldma, Inta Brūna, Dagnija Daņēviča
Reports:
1) Emīls Pūlmanis, Silvija Bruņa. Project Cost-Benefit Analysis: An Improve¬ment to Construction Project Management Process 
2) Inta Brūna. Role of Eco-Indicators in Environmental Management Accounting 
3) Lilija Ābika, Ilze Āboliņa. Documentation Requirements for Various Sectors of National Economy Including Artists’ Creative Activity
4) Ruta Šneidere. The Analysis of Theoretical Approaches for Calculating Various Financial Ratios 
5) Inga Būmane. Goodwill and Gain from Bargain Purchase – Theoretical Analysis of Accounting Policy 
6) James Samuel. The Application of IAS for Developing Businesses, Especially in the EU
Chairs (sub-session 2.2.): Tiiu Paas, Elvīra Zelgalve, Ramona Rupeika-Apoga, room 308
Reports:
1) Natalia P. Kuznetsova, Zhanna V. Pisarenko. Insurance Activities Governance: World Experience Implementation 
2) Ieva Aizsila. Expenses of an External Audit of Financial Statements – Administrative Costs of the Entity
3) Diana Fadejeva, Inna Romānova. Buy-And-Hold: The Paradox of Baltic Securities Market 
4) Zhanna V. Pisarenko. Microinsurance – Challenges for Russian Insurance Market
5) Liudmyla Lakhtionova. Analysis of Financial Stability of Companies in Conditions of Globalization of Economy
6) Tiiu Paas. Regional Development and Convergence: Are Innovations Supporting These Processes?
3. Human Development and Management Education, room 305
Chairs: Arild Sæther, Inesa Vorončuka, Viesturs Pauls Karnups, Ismena Revina
Reports:
1) Maris Purgailis, Kristīne Zaksa. The Student Loyalty as a Part of Higher Education Organization’s Intellectual Capital 
2) Elena Ozola, Andris Ozols. Knowledge Sharing and Organizational Learning as Factors of Organization Effectiveness: Social Psychological Approach
3) Madeleine Block, Tatiana Khvatova. Trust and Knowledge Sharing within Organisational Context 
4) Agnese Līgotne. Investigation of the Opportunities of Study Programme Quality Assessment 
5) Vladimir G. Khalin, Galina V. Chernova. Educational Crediting in Modern-Day Russia: Concept and Problems
6) Arturs Graudins, Biruta Sloka, Inesa Vorončuka, Ilze Brante. Professional Education Establishment Optimisation: Additional Challenges for Mecha¬nical Engineering and Metalworking Industries in Latvia
7) Arild Sæther. What Happened to the Entrepreneur in Economics?
4. International Economics and Globalization, room 121
Chairs: Dainora Grundey, Baiba Šavriņa, Ērika Šumilo
Reports:
1) Xavier Galiegue. Innovation and Technological Catch Up: What Should We Learn Emerging Economies from the European Experience? 
2) Isa H. Aliyev, Agha-Karim H. Haciyev, Rahim A. Haciyev. Peculiarities of the Stabilization Policy in Azerbaijan under the Financial Crisis 
3) Christiane Gaul. Psychological Aspects in International Franchising 
4) Aija Graudiņa. Global Change Impact on the Insurance Industry
5) Aldis Bulis, Aleksis Orlovs, Roberts Škapars. Impact of Transit Services Export on Latvian GDP 
6) Alen Sacek. The Aspects of Merger Syndrome in M&A Transactions 
7) Sergejs Stacenko. European Industrial Relations: Collective Bargaining in the EU and EU Member States 
5. Marketing, room 519
Chairs: Ligita Šimanskiene, Biruta Sloka, Valērijs Praude, Daina Šķiltere
Reports:
1) Christoph Kisker. Social Media Marketing for Startups
2) Katharina Buttenberg. Employer Branding: Objectives, Channels and Performance Indicators 
3) Anda Batraga, Didzis Rūtītis. Corporate Identity – Comparison of Product and Services Marketing Perspectives
4) Michael Toedt. A Marketing Optimization Model for CRM Activities 
5) Sergejs Volvenkins. Methodology for Print Advertisement Quality Assessment 
6) Karina Adonjeva. The Role of Brand Image in Cosmetics Industry in Baltic States 
6. Public Administration, Taxation and Budget, room 423
Chairs: Rasa Daugeliene, Inga Vilka, Alari Purju, Lūcija Kavale
Reports:
1) Stephen Rainey, Philippe Goujon. Ethical Challenges of Economic and Business Development
2) Ilze Vilka. Theoretical Aspects of Local Economic Development in Rural Areas: A Literature Review 
3) Katri Vintiša. Challenges of Pay System Development in Public Sector: Case of Latvia
4) Svetlana Saksonova. Active Employment Activity’s Influence on Latvian State and Local Government Budgets during Years 2009-2011 – Research Results 
5) Ilze Gude. Open Dialogue between Institutions and Citizens: Chances and Challenges
6) Ansis Grantins, Biruta Sloka, Inga Jekabsone. Municipality and Inhabitants Cooperation for Well-Being: Salaspils District Case 
7. Sustainable Development and Tourism, room 424
Chairs: Peter Reusch, Elena Dubra, Juris Brencis
Reports:
1) Marija Lindemane. Estimating Potential in Export of Financial Services 
2) Ludmila Bandeviča, Guna Salputra. Regional Integration in the EU Common Market from Agribusiness Perspective 
3) Kristīne Bērziņa. Local Inhabitant and Service Staff Readiness to Assistive Cooperation Towards Tourists 
4) Ilze Prūse. The Future of the EU ETS and It’s Participants Knowledge about it in Latvia
5) Ksenija Ijevļeva. Information Sources Influencing the Consumers’ Decision of Home Loan Obtaining
6) Juris Dzelme, Zane Krišjāne, Ivars Linde. Direct Use of Knowledge 
7) Peter J. A. Reusch. Project Management Supported by Object Role Modelling
8. Management and Innovations, room 518
Chairs (sub-session 8.1.): Gundars Kaupins, Andris Deniņš, Edgars Brēķis
Reports:
1) Tom Sander. Why Individuals Take Part in Social Media Activities? 
2) Helene Eller. The Impact of Stakeholders as Members of a Voluntary Board 
3) Klaus Venus. Supply Chain Management – Part of Strategic Management
4) Michael Trestl. The Impact of Growth on Distribution and Innovation in the Airline Industry 
5) Dmitry Podolyanets. Budgeting: Transition from Principles of the General Planning to Planning of Personal Responsibility for Results of Activity
6) Franz Haas. International Sales Processes for Industrial Goods
7) Juris Barzdins. Global Trends in Health Care and Emerging Challenges for Management
Chairs (sub-session 8.2.): Maaja Vadi, Jānis Priede, Kārlis Purmalis, room 225
Reports:
1) Oleksiy Druhov, Mukola Voznyuk. The Economy Intellectualization Management: Organizational Aspect
2) Norman Jablonski. Differences in the Buying Behaviour of Closed Funds between German and Austrian Investors and Implementation of Improvement Measures – Presentation of Country Differences
3) Maria Minichmayr. Decision Efficiency in Employee Selection Processes in Regard to Happiness 
4) Ināra Kantāne, Biruta Sloka, Ilona Ozoliņa. Assessing Motivation for Small Business Development 
5) Rita Ozolina. Material Stratification in Different Types of Households
6) Gundars Bērziņš. Analysis of Strategic Management Decision Process in Creative Industries
7) Ilze Buligina. Governance Aspects in the EU Research Policy to Support Innovation 
9. Business Information and Social Media Management, room 302
Chairs: Erick Schoop, Uldis Rozevskis, Signe Bāliņa
Reports:
1) Manuel Woschank. The Impact of Increased Efficiency in Logistics Planning Operations on Logistics Performance 
2) Meinhard Friedl. Impact of Electronically Substitution on Postal Operators − Austrian and EU Market
3) Michael Pütter. Social Commerce – Study in Social Media and E-Commerce for the Disposal of Strategic Approaches to Optimize Customer Loyalty
4) Madara Apsalone, Erika Šumilo. Socio-Cultural Factors and National Competitiveness
5) Boldizsár Tóth. Developing an Employee Satisfaction Survey for the Hungarian SME Sector: Implementation of the Existing Theories
6) Britta Bolzern-Konrad. Organizational Commitment as Determining Factor for Long-Term Retention in Order to Match Industry Require-ments and the Technical and Social Skill Set of Job Entrants
19:00 Reception for Conference Participants hosted by Mārcis Auziņš, Rector of University of Latvia
Saturday, 12 May, 2012
09:30 – 11:30 Concluding Plenary Session (Small Aula, Raiņa bulv. 19)
Chair: Inga Vilka, Edgars Brēķis
Chairs of the sessions present main findings from the presentations and gained knowledge about new challenges of economics and business development
Presentations of best papers in each section (determined by session chairs)
11:30 – 12:00 Coffee Break
13:00 – 20.00 Field trip, participants networking