Coordinating institution:

University of Latvia, Faculty of Business, Management and Economics

Partner institutions:

University of Tartu, Faculty of Economics and Business Administration (Tartu, Estonia)

Tallinn University of Technology (Tallinn, Estonia)

ISM University of  Management and Economics (Vilnius, Lithuania)

University of Agder (Kristiansand, Norway)

Western Norway University of Applied Sciences (Bergen, Norway)

University of Gothenburg (Gothenburg, Sweden)

Reykjavik University (Reykjavik,Iceland) 

Kaunas University of Technology, School of Economics and Business (Kaunas, Lithuania)

Associate partner institutions:

University of Siegen (Siegen, Germany)

Fachhochschule Dortmund (Dortmund, Germany)

University of Bergamo (Bergamo, Italy)

University of Lodz (Lodz, Poland)

University of Gdansk (Gdansk, Poland)

University of Piraeus (Piraeus, Greece)

Network goal and main objectives

The overall goal of the network is to establish, develop and strengthen educational co-operation in the corporate and international finance area in the Nordic-Baltic higher educational region, by giving students a strong background and provide them with a world-class head start.

Main objectives of the network are:

• to improve the quality of education by providing a unified and coordinated acquisition of study process and study courses curriculums in all network-affiliated universities;

• to exchange and disseminate experiences, best practices and innovative results;

• to promote sharing of knowledge as well as increasing students’ and teachers’ academic cooperation;

• to promote discussion of the most current topics in corporate and international finance, as well as importance of cooperation and unity between the Baltic and Nordic States in the global world.

The cooperation is in the Corporate and International Finance field between the Nordic-Baltic and associated universities. The network includes universities which have study programmes and research activities in this field.

Main expected benefits:

• Sharing experience and best practice;

• Promoting collegial interaction;

• Collaborating on student mobility projects;

• Academic co-operation between partner universities;

• Systematic exchange of experiences between partner universities and between industry and academic experts;

• Expansion of joint study possibilities.

The choice of partners has been justified by a good and innovative teaching environment with close proximity to students and a well-developed collaboration with regional enterprises.

Application information:

To apply for a teacher’s mobility please fill the application form.

Network Promoter and Contact Person:

Dr.,Prof. Ramona Rupeika-Apoga (University of Latvia)


Address: Aspazijas bulv.5, Riga, LV-1050, Latvia

Phone number: +371 67034778

Don't miss a chance: extended deadline for abstract submissions - 31st of March for IEE TEMS conference „Leading Digital Transformation in Business and Society“ to be held in Kaunas University of Technology (KTU), Lithuania, August 24 – 27, 2021.

It is not JUST a conference:

  • The keynote speech of the track by IMD professor, director of World Competitiveness Centre Arturo Bris on digital transformation in the financial sector;
  • ‘Meet the Editors’ session featuring well-established academic journals: IEEE Transactions in Engineering Management, R&D Management, Technovation, and Baltic Journal of Management;
  • "Business digital transformation living lab", inviting track participants joined by industry players to solve a challenge provided by Hitachi Capital for joint discussions and sharing insights in case solving session;
  • Your paper will be published in "IEEE Xplore" conference proceedings (cited by Scopus), you have a chance to publish selected papers in "R&D Management" Special issue (IF 2,9, ABC listed).

Track Digital Transformation in Financial Sector themes:

- Financial system impact of disruptive innovation;

- Greater financial inclusion; fintech regulatory issues;

- Fintech decisions for risk management, risk transfer, and risk diversification;

- Greening the financial system;

- Enhancing economic development;

- Ethical, cultural, and social implications of finance digitization;

- Covid-19: financial technologies supporting economic resilience.

Submit here 

In the academic year 2019/2020, at the Faculty of Business, Management and Economics of the University of Latvia for the fourth time, teaching mobility was organized for NBNCIF network members from partner institutions.

During the round table discussions in September (Riga), November (Tallinn) in 2019 and February (Riga) in 2020, network participants focused on the students’ digital competences and computational thinking in the financial area. Innovative applications of digital technology for financial services, or Fintech, are being used to alter the interface between financial consumers and service providers and are helping to improve communication with consumers and increase their engagement.

During the teaching mobility, NBNCIF members delivered lectures and seminars for undergraduate and graduate students in Riga (University of Latvia) and Tallinn (Tallinn University of Technology).

The following topics were discussed during this project:

  • Is more really better? Performance measures, performance and environmental uncertainty
  • A bank survey to examine the impact of different factors on credit defaults of real estate loans
  • Corporate    securities    and    derivatives    markets    in    emerging    economy:  opportunities for non-financial organizations in the Republic of Belarus
  • Comparative    analysis    of    business    valuation    methodology:    classical and advanced methods.
  • Simplified taxes to support small business
  • The performance of the Kosovo credit guarantee fund and effects on the financing of the real sector enterprises in Kosovo
  • Investment incentives and MNEs location choices
  • Foreign direct investments in the cis countries and their reliance on the world bank’s doing business indicators
  • Self-employment as alternative to labour relations
  • The theoretical basis of the methods of accounting analysis of the effectiveness of enterprise modernization within the concept of maintaining financial and physical capital
  • Modelling Flash Crash Behavior in a Stock Market Using Multivariate Hawkes Processes
  • Business models of FinTechs – Difference in similarity
  • Bank´s Stability: Evidence from Latvia, a Small Post-Transition Economy

In the academic year 2018/2019, at the Faculty of Business, Management and Economics of the University of Latvia for the third time, teaching mobility was organized for NBNCIF network members from partner institutions.

During the round table discussions in May (Riga), August (Reykjavik) and September (Vilnius) in 2019, network participants discussed with students the problems faced by Nordic and Baltic countries related to the integration of refugees, asylum seekers, and newly arrived migrants.

During the teaching mobility, NBNCIF members delivered lectures and seminars for undergraduate and graduate students in Riga (University of Latvia), Vilnius (ISM) and Reykjavik (University of Reykjavik). The following topics were discussed during this project:

  • Nordic Corporate Governance
  • Impact Investing - an Acceptable Niche Existence?
  • Firm- and Country-Level Determinants of Green Investments: an Empirical Analysis
  • Green and Infrastructure Investment - an Important Area of Pension Reforms for Transitional Economies
  • The Principal-Agent Problem within Sustainable Investing
  • Financial Incentives of Economic Growth in Emerging Markets: Evidence from Russia
  • Main Factors of Emotionally Attached Customer in Retail Banking of Latvia
  • Assessment of Bank Financial Health in Latvia
  • Novel Usage of Network Modelling. Systemic Risk in Banking
  • This Time will be Different? Build-Up of Cyclical Systemic Risks and Activation of the Countercyclical Capital Buffer in CESEE Banking Sectors
  • Vulture Investing in Italy
  • Developing Corporate Bond Market in Belarus
  • Latest Trends in Assessing Pension Reforms
  • Is it Possible to Assess the Corporate Market Value in the Emerging Market?

From 9 to 13 May 2018 University of Latvia, Faculty of Business, Management and Economics hosted NBNCIF network members from Partner Institutions: ISM University of Management and Economics (Vilnius, Lithuania), Reykjavik University (Reykjavik, Iceland) and University of Agder (Kristiansand, Norway) and Associate Partner Institutions: University of Lodz, University of Gdansk and University of Bergamo. During the study visit NBNCIF members delivered lectures and seminars to bachelor and master students.

Additionally, on 11 of May the workshop “Financial Services, Accounting and Finance” was organised for students. During the seminar, such topics were discussed:

  1. How firm performance affects supervisory board activity: evidence from the Polish two-tier board model;
  2. FDI inflow to the Lodz region. Where are we 5 years later?;
  3. Crisis stages and early warnings in the Italian bankruptcy code reform;
  4. Assessment of competition in the banking sector of the Baltic states;
  5. Cheap debt or delayed equity? The motives for the use of convertible bonds by companies in Poland;
  6. The impact of concentrated ownership on payout across Nordic firms;
  7. Financial reporting in the micro enterprises in selected European countries;
  8. The knowledge and competencies required for fintech sector;
  9. Personal determinants of the family business capital structure - central and eastern European perspective;
  10. An alternative for detecting systemic risk in banking sector. Principal components approach;
  11. The determinants of bank’s stability: evidence from Latvia’s banking industry;
  12. Capital sources of innovation financing in polish family businesses.

On 16 April, 2018 academic staff from Western Norway University of Applied Sciences (Norway), Business Administration department specializing in finance, accounting, business management and other fields visited the University of Latvia, Faculty of Business, Management and Economics (LU BVEF).  Representatives of University of Latvia delivered lectures about current economic situation in Latvia, Latvian public sector development and challenges of tourism industry.

It’s planned to develop cooperation between Latvia and Norway in studies, research and mobility; students and post-doctoral exchanges, as well as joint bachelor's, master's and doctoral studies; the improvement of professional and intercultural skills of lecturers as well.

From 14 to 15 September 2017 ISM University of Management and Economics organized the work placements and collaboration with the labour market workshop for NBNCIF network participants.

On 14 of September network members met with ISM University academics and students, discussing the new challenges of graduates and labour market.  Participants were looking for answers:

  • How the skills and qualifications gained in university help graduates to build their lives and secure our societies’ prosperity, competitiveness and progress?  
  • What are the main obstacles they are facing looking for work and the relevance of their skills for employers?

In rapidly changing job markets, higher education systems should provide graduates with relevant skills and competences.  This is not only about finding employment after graduation, but also about being able to adapt to future labour market needs and adjust to career changes.

On 15 of September network members participated in the Bank of Lithuania workshop devoted to the labour market requirements for graduates (students) as a new labour force, looking for recommendations what should be done to improve the contain of lectures at home universities to increase the competitiveness of young students.  

Call for submissions to Workshop in Finance on May 18, 2017

The Workshop in Finance, University of Latvia, Riga, Latvia