New Challenges of Economic and Business Development – 2017: Digital Economy International Scientic Conference New Challenges of Economic and Business Development – 2017 Digital Economy Abstracts of Reports Organised by Faculty of Business, Management and Economics, University of Latvia In cooperation with European Commission Representation in Latvia Latvian Information and Communications Technology Association May 18-20, 2017 Riga, University of Latvia 1 9th International Scientific Conference “New Challenges of Economic and Business Development – 2017: Digital Economy”: Riga, Latvia, May 18-20, 2017. Abstract of Reports. Riga: University of latvia, 2017, 162 p. Scientific Programme Committee Chairperson, Dr. Signe Balina, Professor, University of Latvia (Latvia) Dr. Vitali Alexeev, University of Guelph (Canada) Dr. Jean David Avenel, Professor, University Paris-Est Créteil (France) Dr. Anda Batraga, Associate Professor, University of Latvia (Latvia) Dr. Leszek Bohdanowicz, Professor, University of Lodz (Poland) Dr. Andrejs Cekuls, Associate Professor, University of Latvia (Latvia) Dr. Ilan Cooper, Professor, Norwegian Business School (Norway) Dr. Alessandro Danovi, Associate Professor, University of Bergamo (Italy) Dr. Rasa Daugeliene, Associate Professor, Kaunas University of Technology (Lithuania) Dr. Vida Davidaviciene, Professor, Vilnius Gediminas Technical University (Lithuania) Dr. Dzineta Dimante, Associate Professor, University of Latvia (Latvia) Dr. Nicolas Gavoille, Associate Professor, Stockholm School of Economics in Riga (Latvia) Dr. Simon Grima, University of Malta (Malta) Dr. Hansen Jens Ørding, Associate Professor, Niels Brock Copenhagen Business College, (Denmark) Dr. Arto Haveri, Professor, Tampere University (Finland) Dr. Mihails Hazans, Professor, University of Latvia (Latvia) Dr. Viesturs Pauls Karnups, Professor, University of Latvia (Latvia) Dr. Gundars Kaupins, Professor, Boise University (USA) Dr. habil. Natalija Kuznecova, Professor, Saint Petersburg State University (Russia) Dr. Tatjana Muravska, Professor, University of Latvia (Latvia) Dr. Shin’ya Nagasawa, Professor, Waseda University (Japan) Dr. Tiiu Paas, Professor, Tartu University (Estonia) Dr. Gunnar Prause, Professor, Tallinn University of Technology (Estonia) Dr. Alari Purju, Professor, Tallinn University of Technology (Estonia) Dr. Trond Randoy, Professor, University of Agder (Norway) Dr. Inna Romanova, Associate Professor, University of Latvia (Latvia) Dr. Uldis Rozevskis, Associate Professor, University of Latvia (Latvia) Dr. Ramona Rupeika-Apoga, Professor, University of Latvia (Latvia) Dr. Arild Sæther, Professor, Agder University (Norway) Dr. Priit Sander, Professor, Tartu University (Estonia) Dr. Bruno S. Sergi, Professor, University of Messina (Italy) Dr. Ligita Simanskiene, Professor, Klaipeda University (Lithuania) Dr. Biruta Sloka, Professor, University of Latvia (Latvia) Dr. Inna Steinbuka, Head, European Commission Representation in Latvia (Latvia) Dr. Erika Sumilo, Professor, University of Latvia (Latvia) Dr. Eleftherios Thalassinos, Professor, University of Piraeus (Greece) Dr. Inesa Voroncuka, Professor, University of Latvia (Latvia) 2 New Challenges of Economic and Business Development – 2017: Digital Economy Conference Organizing Committee Dr. Signe Balina, Vice Dean for Research, Professor, Faculty of Business, Management and Economics, University of Latvia Dr. Gundars Berzins, Dean, Associate Professor, Faculty of Business, Management and Economics, University of Latvia Dr. Erika Sumilo, Professor, Faculty of Business, Management and Economics, University of Latvia Dr. Biruta Sloka, Professor, Faculty of Business, Management and Economics, University of Latvia Dr. Andrejs Cekuls, Associate Professor, Faculty of Business, Management and Economics, University of Latvia Dr. Ramona Rupeika-Apoga, Professor, Faculty of Business, Management and Economics, University of Latvia Dr. Janis Priede, Associate Professor, Faculty of Business, Management and Economics, University of Latvia Sofija Kristele, Executive Director, Faculty of Business, Management and Economics, University of Latvia Evija Ansonska, Public Relations Manager, Faculty of Business, Management and Economics, University of Latvia University of Latvia, 2017 ISBN 978-9934-18-242-6 3 Contents Challenges of global economy in the digital era...................................11 Armenia Androniceanu, Irina Virginia Dragulanescu Loan Policies and Economic Development in a Globalized Environment .................................................................13 Daina Belicka, Lasma Lancmane, Lolita Meza, Signe Balina Erasmus+ Project Evaluation in Five Member States ....................................................................................................14 Evita Benke, Andris Denins The Evolution of Telecommunications and Information Technology Sectors in Latvia ...........................................15 Johannes Bramboeck The Influence of Quality Management Systems on Data Integrity in Pharmaceutical Industry .............................16 Larisa Bule, Liga Leitane Contribution of Private Fund Managers to the Accumulation of Pension Capital of the Second Tier of Latvian Pension System in 2012-2016 ............................................................................................................................................17 Andris Denins, Dace Amsone Information Technology Innovation Application in National Tourism Destination Management Systems ........18 Irina Virginia Dragulanescu, Armenia Androniceanu Considerations Relating the Italian E-Commerce Development in a Global Economy ..........................................19 Egils Fortins The International Trading System Development of the Digital Economy .................................................................20 Anita Gaile, Erika Sumilo The Contemporary Career Success Factors – Dynamics and Classification ..............................................................21 José Luis Gómez-Barroso, Sergio Ramos Personal Information-Driven Markets: Regulation or Policy? ....................................................................................22 Steffen Hossfeld The Advantage of Digital Decision Making for Strategic Decisions – Proofed by an Supply Chain Case ............23 Kaspars Kravinskis Developments of Financial Literacy Research in the Baltic States: A Systematic Review .........................................24 Silvija Kristapsone, Silvija Bruna Indicators of the Information and Communication Technology (ICT) Sector Activity in Latvia and the EU .....25 George Lăzăroiu Is Citizen-Centric Digital Governance the Most Adequate Approach to Implement Service Delivery ................26 Elvira Nica Does Reputation Really Regulate the Socio-Economic Interactions in Digital Labour Markets? ..........................27 Anna Pluta The Comparison of Exporting and Non-Exporting Enterprises in Latvia .................................................................28 Gheorghe H. Popescu Is the Digital Sharing Economy a Disruptive Innovation That May Revolutionize Market Economies and Advance Sustainable Consumption Routines? ..............................................................................................................................29 Janis Priede, Haidong Feng Evaluation of the Latvia – China Trade Potential .........................................................................................................30 Janis Priede, Meiping Sun Transatlantic Trade and Investment Partnership and Its Potential Economic Impact on Latvia ...........................31 4 New Challenges of Economic and Business Development – 2017: Digital Economy Tom Sander, Biruta Sloka, Phoey Lee Teh Uncovering the Support and Trust in Employment Seeking Process Using Social Network Sites ..........................32 Baiba Savrina, Janis Supe Changes of Economic Security Level in Latvia in Context of Globalization ..............................................................33 Stefan Schwerd Manager View on Information Risk Managements’ Damage Prevention and Control Factors - Mid-Level-Manag- ers Tendency to Overcompensations in Decision-Making-Situations ........................................................................34 Nicolai Sinik Assessing Organizational Efficiency in the Austrian Supermarket Sector, a Principal-Agent Setting ....................35 Roberts Skapars, Sandra Jekabsone, Janis Priede, Irina Skribane Productivity and Its Impact on the Competitiveness of Latvia ....................................................................................36 Vytautas Snieska, Daiva Burksaitiene Mergers & Acquisitions in the Growth of Digital Economy .........................................................................................37 Karlis Vilerts Public-Private Sector Wage Gap in Latvia with Double Sample Selection .................................................................38 Peteris Zvidrins, Atis Bērzins Dynamics of Ethnic Composition in the Baltics ............................................................................................................39 Contemporary management and business innovations........................41 Annija Apsite, Ilona Baumane Vitolina, Jelena Luca Organizational Innovations and Knowledge Management: in Search for a Theoretical Framework........................43 Leszek Bohdanowicz, Grzegorz Urbanek The Impact of Ownership Structure on Intellectual Capital Efficiency: Evidence from the Polish Emerging Market ...................................................................................................................................................................................44