The first prize was awarded to Evelīna Valtere, Diāna Zariņa (SSE Riga) for 'Greenwashing: when Climate Talk Does not Meet the Climate Walk', which finds that the portfolios of 'greenwashing' firms yield consistently lower abnormal returns than non-greenwashing companies. This suggests that investors have been able to distinguish between non- and greenwashers and reward the firms that honestly report their commitment to ecological thinking.
One second prize went to Ieva Vitaitytė (ISM University of Management and Economics) for 'Financial Literacy Impact on Investment Decisions in Lithuania' which investigates how households’ financial literacy drives decisions to invest their savings and how it affects the choice of an investment instrument.
Another second prize went to Artis Veldre, Elvis Ancāns (SSE Riga) for 'Family versus Non-Family Enterprises – Evidence from Latvia' which analyses family firms in Latvia and compares their performance to non-family firms.
Third prizes went to Ēriks Kristsons, Toms Osis (SSE Riga), Evita Prindule (Latvia University of Life Sciences and Technologies), and Darja Golosuja (University of Latvia) with an honorable mention prize going to Ilona Chaiko, Catalina Popescu (SSE Riga).
Mārtiņš Kazāks, Governor of Latvijas Banka, congratulated those winning awards, who received cash prizes.
15 papers submitted in total to the competition this year from 7 higher educational institutions of Latvia and foreign countries (the Stockholm School of Economics in Riga, Rīga Stradiņš University, the BA School of Business and Finance, the University of Latvia, Latvia University of Life Sciences and Technologies, the "RISEBA" University of Business, Arts and Technology, ISM University of Management and Economics (Vilnius)).