At Baltic Market Awards ceremony, which took place on January 26, NASDAQ OMX Riga announced the winners of the 2011 competition of bachelor and master theses. The research papers on the topic of the Latvian and Baltic securities market and corporate governance presented by the winners gained the most of the points from behalf of Jury.

1st place and 1000 EUR were awarded to Daiga Grūbe, student of University of Latvia, Social Sciences Faculty. Her Master thesis in corporate governance in state-owned companies entitled „Clientelism and Nepotism in state owned companies (written in Latvian) gained the most of the points for the innovative topic in the contest, practical value and quality of analysis.

2nd pace was awarded to the students of Stockholm School of Economics in Riga, Karolis Čekauskas and Vytautas Liatukas for their Bachelor thesis “Behavioural Biases of the Disposition Effect and Overconfidence and their Impact on the Estonian Stock Market” (written in English).

3rd place was awarded to the student of Riga Business School Jānis Praņēvicš for his Master thesis “Business development strategy of the NASDAQ OMX Riga” (written in English).

The competition takes place already for the 6th time and aims at promoting better knowledge on how stock market functions as well as raising awareness of the students on the importance of the stock market in the economic development of the state and alternative financing opportunities for the companies. 

Competition is organized in close collaboration with Latvian universities, colleges, and market professionals. This year the research papers entered for the contest were evaluated by: Liene Dubava, Board Member of NASDAQ OMX Riga and Chairman of the Jury; Nataļja Lāce, Professor, Riga Technical University; Nataļja Točelovska, Head of Brokerage and Securities Issuance, SEB Bank; Raivis Lucijanovs, lecturer of the Riga Business School, and Jūlija Bistrova, Chairman of the management board at “CE Services” and also the holder of the main prise of the thesis contest back in 2008.

 “This year the competition was somehow different for many reasons. First of all, we received twice as much student works as in previous years. All together we registered 15 different works written in 7 different universities. It clearly indicates that the awareness and overall interest about the stock market has risen in last year. Secondly, all members of the jury admitted that the quality of the research projects this year were notably higher, which made the process of judging more challenging and interesting, and works – worth to be published. And finally, this year we have introduced additional category for the competition. As issues of corporate governance have hit the spot-light in many ways, from now on we will be accepting thesis addressing various questions of corporate governance for the competition. We truly hope that the work of Daiga Grūbe will inspire others to follow her example and engage in academic research and debate on corporate governance”, says Liene Dubava, Board Member of NASDAQ OMX Riga and Chairman of the competition jury.