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.

1^st 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.

2^nd 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).

3^rd 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 6^th 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.

Winner of the theses compatition Daiga Grūbe (University of Latvia, Faculty of Social Sciences) and Liene Dubava, NASDAQ OMX Riga member of the management  board and chairman of the jury for the Master and Bachelor theses competition

2nd place runner-ups Karolis Čekauskas and Vytautas Liatukas (Stockholm School of Economics in Riga) and Liene Dubava, NASDAQ OMX Riga member of the management board and chairman of the jury for the Master and Bachelor theses competition

NASDAQ OMX Riga invites students to enter a competition for the main prize EUR 1000 by submitting their bachelor's and master's theses about: 

• the Latvian and/or Baltic securities market or
  
• Latvian companies' corporate governance issues.

The annual contest is organized for the sixth year in a row and its objective is to incite students' interest on securities market and the opportunities it is offering to investors and companies.

The contestants are invited to submit their bachelor's or master's theses that have been defended in the last quarter of 2010 or in 2011 on the topics related to the Latvian and/or Baltic securities market or Latvian companies' corporate governance issues. The theses may be in the Latvian or English language, and should have a score from the competitor's higher educational establishment no lower than 7 points on a 10-point scale or equivalent; the papers may not have been submitted to any previous competitions organized by the Baltic stock exchanges. The winner of the competition will receive an acknowledgement certificate issued by NASDAQ OMX Riga and a money prize of EUR 1000 after taxes.

The bachelor's and master's theses shall be accepted till September 30, 2011. The Competition Commission will include representatives from NASDAQ OMX Riga, Latvia's leading higher educational establishments, as well as industry professionals.

To enter the competition, students have to deliver or send their bachelor's or master's theses to the Reception of NASDAQ OMX Riga at Vaļņu iela 1, Riga (a hard copy in decent computer printout plus a digital version on a CD or flash), and supply details:

o Author's name, surname
o E-mail address
o Telephone number
o Residential address
o Higher education establishment
o Tutor's name, surname and contact information (e-mail and phone number).

Please find Competition Regulation - here.

Contact:
Anda Zvigule
Corporate Communications Specialist, NASDAQ OMX Riga
anda.zvigule@nasdaqomx.com; +371 67 212 431

As part of the Baltic Market Awards ceremony NASDAQ OMX Riga announced the winners of the 2010 contest of bachelors and masters theses. The research papers on the topic of the Latvian and Baltic securities market presented by the winners were highly appreciated by the Jury.

Laurynas Barauskas and Justinas Noreika, students from Stockholm School of Economics in Riga, won the contest and were awarded NASDAQ OMX grant of 1000 EUR. Their bachelor’s thesis was entitled „Momentum in Mature and Emerging Markets under Different Market States: the Case of the Baltic Region”. The runners up were Pēteris Miķelsons and Miks Miķelsons from Stockholm School of Economics in Riga with their bachelor’s thesis „Audit Committees Effectiveness: A Qualitative Study of Latvian and Lithuanian Listed Companies”. Sabīne Mežkaze from Riga Stradin’s University with her paper “Analysis of Investment Funds and their Role in the Latvian Capital Market (in the Context of the EU Member States)” came up as the third.

Laurynas Barauskas from Stockholm School of Economics in Riga.

Pēteris Miķelsons and Miks Miķelsons from Stockholm School of Economics in Riga.

The annual contest has been organized since 2006 in collaboration with Latvian universities and colleges and market professionals. Its objective is to arouse students' interest on developments in the Latvian and Baltic stock markets as well as the opportunities they are offering to investors and businesses, and to increase students' awareness and understanding of the role of capital markets in the national economy and to support high-quality research projects devoted to the development of the industry in Latvia and the Baltic countries. 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; Tālis Putniņš, a lecturer from Stockholm School of Economics in Riga.

“The research quality of the papers presented for the contest is improving from year to year. Though it becomes more and more difficult for the jury to nominate the winners, the evaluation process is rewarding in itself thanks to the potential demonstrated by the would-be experts of our industry. We are also pleased with the increasing activity from the universities and colleges in Latvia”, says Liene Dubava, Board Member of NASDAQ OMX Riga and Chairman of the contest Jury. The research papers of the winning authors are available on the NASDAQ OMX Riga website.

Best thesis in 2010

1st place
Laurynas Barauskas un Justinas Noreika
Momentum in Mature and Emerging Markets under Different Market States: the Case of the Baltic Region
Stockholm School of Economics in Riga, Bachelors' thesis

2nd place
Pēteris Miķelsons un Miks Miķelsons
Audit Committees Effectiveness: A Qualitative Study of Latvian and Lithuanian Listed Companies
Stockholm School of Economics in Riga, Bachelors' thesis

3rd place
Sabīne Mežkaze
Investīciju (ieguldījumu) fondu analīze un nozīme kapitāla tirgus veidošanā Latvijā (salīdzinošais konteksts ar ES valstīm)
Riga Stradin’s University, Bacholors' thesis