Irina Voronova

Irina Voronova
Riga Technical University | RTU · Faculty of Engineering Economics and Management (FEEM)

Dr.oec

About

56
Publications
32,007
Reads
How we measure 'reads'
A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text. Learn more
94
Citations
Additional affiliations
March 1975 - March 2027
Riga Technical University
Position
  • Professor

Publications

Publications (56)
Conference Paper
The most important thing to improve the customer service and customer satisfaction is to identify the de-mands to the customer. Automobile industries need to find the significant factors, which will meet the demands of the customer to a greater extent. The present research includes identification of important cyber physical system factors from the...
Conference Paper
The pandemic had caused a worldwide disruption introducing new and extraordinary challenges. Social dis-tancing and new protocols ensuring safety for people derived new models of work environments. Moreover, when we deal with our physical health, introducing new ways to interact and work in this new remote covid workflow it is also essential to tak...
Article
Full-text available
The present paper develops decision-making criteria through literature research to assess the social opinion on green life style and eco-friendly buildings. Validity of criteria was ensured among company executives and academic staff, based on elaborated criteria small pilot survey was performed and analysed. Current research focuses on the influen...
Article
Full-text available
The aim of the article is to study forensic accounting methods to detect fraud in financial statements. A taxonomy of forensic analytics methods is proposed and a generalization of seven mathematical models for detecting fraud recommended by forensic accounting experts and practitioners is provided, allowing for the detection of fraudulent financia...
Article
Full-text available
The problem of money laundering has received increased attention in recent years. Currently , other standards, which have been developed in accordance with the latest technologies, are applied in the investigation of money laundering cases. The leading countries studying money laundering are the United States, Switzerland, Australia, China, the Uni...
Conference Paper
Full-text available
Bankruptcy forecasting models are developed without considering the possibility of fraud with financial data. The trend of recent publications is to make a bankruptcy forecast combined with possible falsification in financial statements. The article provides a general description of bankruptcy forecasting models - the volume of sampleand methods us...
Conference Paper
Full-text available
The present study provides an analysis of sectoral risk in the forestry sector and presents an overview of multiple-criteria decision analysis (MCDA) for sector development assessment. The main aim of the paper is to determine the macroeconomic indicators and to assess sectorial risk, which is caused by unexpected macroeconomic and market changes....
Conference Paper
Full-text available
Putting aside adequate amount of capital and absorbing losses even during recession times are important for financial stability management and for shareholders. There are non-linear dependence and heavily skewed loss distributions in insurance. Copula as risk-aggregation measure is not yet widely used in the insurance sector. Therefore, we are goin...
Article
Full-text available
This research is aimed to identify the similarities and differences of financial ratios used in the international methods for detecting insolvency (bankruptcy) and bankruptcy fraud. This is the first step in the process of developing a Latvia model of bankruptcy fraud detection. The methods of research: literature review, analysis and synthesis, co...
Conference Paper
Full-text available
Purpose: The research is related to solvency forecasting models, application and determination of precision. The objective of the study is to explore available models, examine whether those that include cash flow indicators are more precise in solvency prediction than those that miss them. The aim of the study is to identify the most relevant, robu...
Article
Full-text available
In their research, the authors consider the role of simple models such as Risk Index for assessing the insolvency of companies in the system of significant development of technologies for nonparametric models of assessing bankruptcy. The authors trace the historical development of this class of models from the first steps (Tamari, 1966) up to this...
Conference Paper
Full-text available
Purpose – solvency II framework regulates how much capital the European Union insurance companies must hold. The amount of necessary capital can be calculated using a standard formula or an internal model. On the basis of the review of other authors’ empirical research, the present paper aim at identifying factors that influence necessary capital a...
Conference Paper
Full-text available
To protect investment and ensure repayment of payables, recent studies have focused on identifying the relationships between company bankruptcy and internal fraud. The P-score model that is based on the most popular Altman Z-score model has been developed to indicate the manipulation of financial statements. Purpose of the study is to determinate t...
Conference Paper
Full-text available
Purpose of the article The aim is to investigate the impact of digital transformation on the insurance sector for claim management and claim reserves using the data from non-life insurance companies located in Baltic countries. The object is digitalisation measurement in claim management. The subject is non-life insurance companies in Baltic countr...
Article
Full-text available
In applications tail dependence is an important property of a copula. Bivariate tail dependence is investigated in many papers, but multivariate tail dependence has not been studied widely. We define multivariate upper and lower tail dependence coefficients as limits of the probability that values of one marginal will be large if at least one of ot...
Conference Paper
Full-text available
In their research, the authors consider the role of simple models such as Risk Index for assessing the insolvency of companies in the system of significant development of technologies for non-parametric models of assessing bankruptcy. The authors trace the historical development of this class of models from the first steps (Tamari, 1966) up to this...
Article
Full-text available
The article represents the bibliometric analysis of risk assessment in Baltic countries relying on scientific database. The purpose of this analysis is to study trends and development of scientific research when evaluating financial risks as well as reveal resources with high impact to apply content analysis that could be used for future research o...
Conference Paper
Full-text available
The present study provides a comparative analysis of development strategy selection and presents an overview of multiple-criteria decision analysis (MCDA) in strategic management. The main aim of the paper is to use the analytic network process (ANP) as one of MCDA methods for determining the best strategy. Based on expert opinions and analytic hie...
Article
Full-text available
Purpose: The research is related to solvency forecasting methods and their models, their possible application and determination of precision. The objectives of the study are to examine the ten most commonly used models of insolvency, their application in Latvian companies, and to enable manufacturing companies to continue their business activities...
Article
Full-text available
Authors study the nature of insolvency both from the legal point of view and scientist position as well as updating tendencies of an insolvency of enterprises in recent years. The subject of the study has been selected company’s survival potential that is analyzed with financial ratio analysis using bankruptcy prediction models. Considering researc...
Article
Full-text available
The study gives an overview of the Baltic non-life insurance market. The purpose of the research is to summarise stability statistics on solvency ratios, risk profiles and capital surplus, which was contained in Solvency and Financial Condition reports (SFCR) in 2016 published first time by non-life insurance companies in European Union and Baltic...
Conference Paper
There is a perceptible increase in business subsidies experienced in Latvia since 2004, when Latvia became a full member of the European Union. Since this time, Latvia has significantly segmented the forms of subsidies for support to the business development projects, with a special contribution provided to the development of infrastructure necessa...
Article
Full-text available
The research aims at clarifying the opinion of experts to identify factors indicating possible intentional nature of bankruptcy and its assessment. In the article, the authors analysed such concepts as fraudulent bankruptcy, criminal bankruptcy, etc., distinguish division of bankruptcy and defined its distinctive characteristics. On the basis of li...
Article
Full-text available
Operational risk is one of the core risks of every insurance company in accordance to the solvency capital requirement under the Solvency II regime. The target of the research is to investigate the improvement possibilities of the operational risk measurement under Solvency II regime. The authors have prepared the algorithm of the operational risk...
Article
Full-text available
The concept of this paper is to perform the improvement of the risk function analysis, assessment and management with the aim to ensure a more sensitive and sophisticated risk coverage in accordance with the Solvency II regime requirements. The authors have offered an approach of risk function implementation and management corresponding with the So...
Article
Full-text available
The target of this work is to research risks impact on the commercial activity of the accommodation and food services sector’s enterprises. Classification of technological process risks of the accommodation (hotel) and food services are created in the article. The authors have carried out a survey of the most important risks’ factors in the stages...
Article
Risk management is one of the most important and critical insurance company's areas that should be improved under the Solvency II framework. The goal of the research is to investigate the improvement possibilities of risk management under the Solvency II regime. To conduct the research, the authors have used the following methods: theoretical analy...
Article
Full-text available
The research is based on the results of the study of the methodology of risk management and international audit standards to attract attention to the comprehension of differences and similarity in the risk-oriented approach by conducting an international control and audit. The topicality of the research is connected with uncertainty which exists in...
Conference Paper
The concept of this paper is to investigate main indicators of insurance market stability according to SolvencyII directive framework. The authors have investigated financial ratios, planning tools, risk management approaches to evaluate stability of an insurance company. Main aim of an insurance company stability analysis is to identify and assess...
Article
Full-text available
The goal of the research is to study types of risks, their identification and classification and assessment possibilities in activities of Latvian trade services enterprises. The authors have created classification of the trade services technological process risks and have carried out a survey of the most important risk factors in the stages of the...
Conference Paper
The goal of the research is to study the economic and financial risks impact on small and medium-sized enterprises’ development in Latvia. The enterprises need to assess the risk dynamic of financial instability and this risk impact on small and medium-sized enterprises’ development, because it is important for enterprises to extend commercial acti...
Article
Full-text available
This article presents a review of existing tests of the assessment of enterprises insolvency. As for the users of non-financial market models, the authors apply the KISS principle (keep it simple, stupid) to research the development of risk index model, focussing on Kralicek Quick Test involved in this group. The authors study the assessment of Lat...
Conference Paper
The purpose of this work is to study assessment of risks in accommodation and food services sector on a sample of Latvia. The authors have created the accommodation (hotel) and food services technological process flow map and have carried out a survey of the most important risk factors in the stages of the technological process. The authors have cr...
Conference Paper
The authors of the publication are studying the strategies of world's best and most influential stock market investors. The objective of the publication is to determine most important points of different investment strategies that would help the user of the strategy to make decision whether or not to include the particular stock in the investment p...
Conference Paper
The concept of this work is improvement of risk management function according to Solvency II directive framework. The authors have created an insurance company's risk catalogue for identification, classification and assessment of possible risks that is a reasonable solution for risk management function improvement. The authors also have offered the...
Article
Full-text available
The Internal Rating Based Approach (IRB) of the Basel Capital Accord allows banks to use their own rating models for the estimation of probabilities of default (PD). The objective of this research is to present mathematical-statistical methods of creditworthiness evaluation usage at banks, describe technical issues of scoring model development for...
Article
Full-text available
span style="color: black; line-height: 115%; font-family: "Calibri","sans-serif"; font-size: 9.5pt; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-bidi-font-family: "Times New Roman"; mso-fareast-theme-font: minor-latin; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-ascii-theme-font: mi...
Article
Financial crisis and its consequences are visible in the capital adequacy of many commercial banks, which indicates that the approach banks took to assess credit risk was not sufficiently sophisticated. This article discusses practical methods of insolvency risk modelling for enterprises. In this paper, the authors analysed the accuracy of ten mode...
Article
Full-text available
Due to the current economical situation on the Latvian market insurance companies are forced to consider other possibilities of income generation. One of such opportunities could be seen in cash flows from investment operations, while managing stocks' portfolios. The process of portfolio management is tightly connected with adequate risk management...
Article
Full-text available
The author considers the problems of analysis and assessment of risks at the enterprises of non‐financial sphere basing on tactical standards of risk management. The author studies the development and impact of the theory of economic cycles on the system of risks in entrepreneurship of Chizhevsky's and Kondratjev's temporary cycles that are at the...
Article
Full-text available
Due to the economic situation insurance companies are forced to consider other possibilities of income generation and coverage of losses. One of such opportunities could be seen in cash flows from investment operations. The process of financial portfolio management is tightly connected with adequate risk management. We strongly believe that multidi...
Article
Full-text available
The purpose of the article is to provide methodology for implementation of internal market risk determination and financial portfolio management model. Due to the fact that Value-at-Risk is being heavily criticized the authors propose an other alternative -downside risk measures (Lower Partial Moments) that can be used as appropriate risk measure t...
Article
Full-text available
Atslēgas vārdi : maksātspējas modeļi, Solvency II, maksātspējas kapitāls, apdrošināšanas riski, darbības risks Ievads 2006.g. apdrošinātāji aizņēma ap 2% no visa Latvijas finanšu tirgus apjoma pēc aktīvu apjoma. Tā kā lielāko daļu aizņem bankas, tad apdrošinātāju daļa nav būtiska, jo ir maza. Ja problēmas banku sektorā, piemēram, bankas maksātnespē...
Article
Full-text available
The authors applying taxonometric method investigate possibility of creating public rating of insurance companies based on public quantitative information. Feasibility of including indicators characterizing insurer's ability to take risks into assessment criteria is well founded. Establishing rating functional the authors assess solvency, ability t...
Article
Full-text available
The paper shows a methodical base of short-term investment in a stock market. The produced algo-rithm helps the potential investor to execute short-term purchase transactions in the stock market. For the selec-tion of the best company stocks authors offer to use a comparative fundamental analysis of the company valuing 17 parameters in 5 grade syst...
Article
Full-text available
Atslēgas vārdi: kredītrisks, maksātnespējas noteikšanas modeļi, regresijas analīze Latvijas uzņēmumu maksātnespējas problēmas aktualitāte 2005.-2007.gada straujā Latvijas ekonomikas attīstība un tai sekojošais kritums negatīvi ietekmēja komercbanku sistēmas stabilitāti. Kredītriska lielums ir atkarīgs no klienta maksātspējas. Latvijā pēc iestāšanos...
Article
Full-text available
Atslēgas vārdi: padziļinātā izpēte, due diligence, apdrošināšana, finanšu koeficienti IEVADS Latvijā pieprasījums pēc uzņēmuma padziļinātās izpētes iepriekšējos gados būtiski palielinājās. Tas bija tieši saistīts ar pārņemšanas un pārdošanas darījumu skaita palielināšanos gan Latvijā, gan Baltijas valstīs kopumā. To galvenokārt veicināja Latvijas i...

Network

Cited By

Projects

Projects (3)
Archived project
Project
Explore solvency forecasting methods, their accuracy and suitability for use. Explore the possibilities of improving existing models and creating new models.