8 July, 2017 Abstract Book
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ISSN 2500-9745 International Scientific Symposium “Economics, Business & Finance” 4 – 8 July, 2017 _________________________________________________________________________________________________________________________________________________________________________________________________________________________ ___________________ International Scientific Symposium “Economics, Business & Finance” 4 – 8 July, 2017 Abstract Book JURMALA LATVIA ISSN 2500-9745 1 ISSN 2500-9745 International Scientific Symposium “Economics, Business & Finance” 4 – 8 July, 2017 ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Scientific Committee: Professor, Dr. Leonids Petersons, RISEBA University, Riga, Latvia Professor, Dr. Tatjana Volkova, BA School of Business and Finance, Riga, Latvia Professor, Dr. Sergejs Hiļkevičs, Ventspils University College, Riga, Latvia Professor, Dr. Alexander Fedotov, RISEBA University, Riga, Latvia Professor, Dr. Irina Kuzmina-Merlino, Transport and Telecommunication Institute, Riga, Latvia Professor, Dr. Günter Hofbauer, Technische Hochschule Inglostadt, Business School, Germany Professor, Dr. Svetlana Saksonova, University of Latvia, Riga, Latvia Professor, Dr. Leszek Dziawgo, Nicholas Copernicus University, Poland Professor, Dr. Danuta Dziawgo, Nicholas Copernicus University, Poland Professor, Dr. Neven Vrček, University of Zagreb, Croatia Professor, Dr. Milena Peršić, University of Rijeka, Croatia Professor, Dr. Alexandr Karminsky, Higher School of Economics, Moscow, Russia Professor, Dr. Dusan Soltes, Comenius University in Bratislava, Slovakia Professor, Dr. Takaya Sadayoshi, Kansai University, Osaka, Japan Professor, Dr. Teresa Orzeszko, Wrocław University of Economics, Poland Professor, Dr. Karling Lee, INTI International College, Penang, Malaysia Professor, Dr. Agnieszka Alińska, Warsaw School of Economics, Poland Professor, Dr. Krystyna Brzozowska, University of Szczecin, Poland Professor, Dr. Marina Tabatadze, Tbilisi State University, Tbilisi, Georgia Associate Professor, Dr. Natalia Konovalova, RISEBA University, Riga, Latvia Associate Professor, Dr. Andrejs Limanskis, RISEBA University, Riga, Latvia Associate Professor, Dr. Wlodzimierz Sroka, Academy of Business, Poland Associate Professor, Dr. Marina Kudinska, University of Latvia, Riga, Latvia Associate Professor, Dr. Nino Mikiashvili, Tbilisi State University, Tbilisi, Georgia Associate Professor, Dr. Mari Kooskora, Estonian Business School, Tallinn, Estonia Associate Professor, Dr. Peter Juhasz, CORVINUS University of Budapest, Hungary Dr. Ilze Sproģe, Transport and Telecommunication Institute, Riga, Latvia Dr. Joanna Sadkowska, University of Gdansk, Poland ISSN 2500-9745 International Scientific Symposium “Economics, Business & Finance” 4 – 8 July, 2017 ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Organizing Committee: Dr. Natalia Konovalova, RISEBA University, Riga, Latvia Dr. Ludmila Bahmane, RISEBA University, Riga, Latvia Dr. Erika Panchenko, RISEBA University, Riga, Latvia Dr. Tatjana Ivanova, RISEBA University, Riga, Latvia Dr. Ewa Dziawgo, Nicholas Copernicus University, Poland Dr. Luis Moreira Pinto, CITAD - Research Center, Lusiada University, Portugal, Lisbon Dr. Ludmila Rozgina, Baltic International Bank, Riga, Latvia Dr. Galina Korchinskaya, Finance University, Moscow, Russia Dr. Ausen Altun Ada, Dumlupinar University, Kutahya, Turkey Dr. Renata Benda-Prokeinova, Slovak University of Agriculture in Nitra, Slovakia Dr. Emmanuel Kofi Ankomah, Mendel University in Brno, Czech Republic Dr. Simona Grama, Group ESC Troyes, France Dr. Maria Pomffyova, Matel Bel University, Poprad, Slovakia Dr. Daniela Majerčakova, Comenius University, Bratislava, Slovakia Dr. Ziva Rozen-Bakher, Researcher, Israel PhD. Marina Markova, Lomonosov Moscow State University, Business School, Russia Mg. Artur Modliński, University of Lodz, Poland Mg. Leonids Kremers, RISEBA University, Riga, Latvia Mg. Julia Bulatova, RISEBA University, Riga, Latvia Mg. Liga Leitane, University of Latvia, Riga, Latvia Mg. Rimantas Zajarskas, Vilnius Cooperation College, Vilnius, Lithuania Mg. Anida Krajina, Masaryk University, Brno, Czech Republic Mg. Alexandra Mittelman, Comenius University, Bratislava, Slovakia 3 ISSN 2500-9745 International Scientific Symposium “Economics, Business & Finance” 4 – 8 July, 2017 ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ CONTENTS Session 1 Business & Finances ................................................................................... 8 Aleksejs Kabanovs, Oksana Skorobogatova ........................................................... 9 The development of a business model, as an element of the architectural approach for the analysis of the transport enterprise’s activities ........................ 9 Alla Sheptun ......................................................................................................... 10 Banking on social values: business or ethics? .................................................. 10 Erika Pancenko, Tatyana Ivanova........................................................................ 11 Potential export of Latvia to China .................................................................. 11 Olga Kamforina, Rostislav Kopitov, Natalia Kopitova ........................................ 12 Imposition of enterprise’s current state’s assessment on its activity’s recorvery program ............................................................................................ 12 Yulija Bojarenko ................................................................................................... 14 Variability of accounting policies – advantages and disadvantages ................. 14 Ewa Dziawgo ........................................................................................................ 16 Delta coefficient of pay-later options ............................................................... 16 Marcin Wajda ....................................................................................................... 17 Absorption of structural funds in the years 2007-2015 in Poland in the light of social and economic development of regions .............................................. 17 Ewa Dziawgo ........................................................................................................ 18 Properties of the gap option.............................................................................. 18 Ilze Sproge ............................................................................................................ 19 Energy tax development in European union..................................................... 19 Nino Zhorzhikashvili ............................................................................................ 20 National bank of Georgia supervisory policy peculiarities .............................. 20 Viktoriia Riashchenko, Маrga Zhivitere, Zaiga Oborenko .................................. 21 Innovation potential of Latvia .......................................................................... 21 Session 2 Challenges in Economics and Finance System ....................................... 22 Reiner Osbild ........................................................................................................ 23 Fundamental economic policies ....................................................................... 23 Ērika Žubule ......................................................................................................... 24 Theoretical and practical aspects of the methodology of state budget expenditure develpoment ................................................................................. 24 ISSN 2500-9745 International Scientific Symposium “Economics, Business & Finance” 4 – 8 July, 2017 ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Sholpan M. Maralbayeva ..................................................................................... 25 Organization and industrial life cycles: challenges of reindustrialization for the light industry of Kazakhstan ....................................................................... 25 Erika Pancenko, Angelina Kasperko .................................................................... 27 Expected profitability and risks in various sectors of Latvian economy ......... 27 Mahes Pranaav Subramaniam, Yulia Stukalina ................................................... 28 Developing the ways of improving competitiveness of a company ................ 28 Shotheesh Choorapra, Irina Kuzmina-Merlino .................................................... 29 Cost management improvement in manufacturing companies ......................... 29 Ilze Sproge, Sandra Jekabsone, Irina Skribane .................................................... 30 The renewable energy development potential