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Lina Pilelienė and Viktorija Grigaliūnaitė

References [1] Al-Majali, M. M. (2012). International Tourists Satisfaction: Case of Jordan. International Business Research, 5(9), 210-216. [2] European Commission (2014). Tourism industry sub-sectors. Country report: Lithuania. Internet access: [Accessed October 8, 2014]. [3] Grigaliūnaitė, V., & Pilelienė, L. (2014). Rural Tourist Satisfaction Index: A Case of Lithuania

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Rita Remeikiene, Ligita Gaspareniene and Gintare Grigaliune

finansiniams rodikliams analizė. Jaunųjų mokslininkų darbai, 1(17), 138-149. Lamminmaki, D., & Leitch, P. (2011). Refining Measures to Improve Performance Measurement of the Accounts Receivable Collection Function. JAMAR, 9(2), 1-20. Lithuanian Department of Statistics (2016). Statistinių rodiklių analizė. Accessed [15.01.2016]. Available from Internet: Liu, Y., & Rosenberg, C. B. (2013). Legal and European Department; Dealing with private debt distress in the wake of the European financial crisis. IMF

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Valery Komisarov, Linda Kauškale and Natalija Lepkova

from CBRE website: Colliers International. (2015). Real Estate Market Overview. Annual Report. Latvia. Lithuania. Estonia. Retrieved from Colliers International. (2016). Real Estate Market Overview. Annual Review. Latvia. Lithuania. Estonia. Retrieved from Brett, L. D., & Schmitz, A. (2005). Real estate

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Ligita Gaspareniene

). Country comparison. CIA Factbook. Retrieved Sept. 14, 2014, from Invest Lithuania. (2014). Foreign direct investment in Lithuania: tendencies and prospectss. ISSUU. Retrieved Sept. 09, 2014, from Ivestors’ Forum Tax Group. (2011). Favourable and clear Lithuanian tax system for everybody. Investors’ Forum. Retrieved Sept. 12, 2014, from http

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Birutė Galinienė and Justina Stravinskytė

Not To Hedge?, p. 1-6 MSCI Index Research (2011), Global Investing: The Importance of Currency Returns and Currency Hedging, p. 1-6 Mina, J., Xiao, J. Y. (2001), Return to RiskMetrics: The Evolution of Standard, RiskMetrics Group, Inc., 119 p Vaičiulis M., the director of the Bank of Lithuania’s Banking Service’s interview to “Verslo žinios” newspaper (2013) Official statistics portal of Lithuania. The list of statistical indicators

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Jaroslav Dvorak

priimamoms reguliavimo priemonėms vertinti. Verslas: Teorija ir Praktika, 9(3). Government of Lithuania „The Law of the Legislation Basics of Lithuania” No. XI-2220 // Valstybės žinios, 2012.11.06 No. 110-5564. Government of Lithuania resolution „Approval of the Prospective Regulatory Impact Assessment Methodology” No. 276 // Valstybės žinios, 2003.02.26 No. 23-975. Government of Lithuania resolution „On the Legislation Rules of the Government of the Republic of Lithuania and Approval of Sample Form of Regulatory Monitoring

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Gitana Dudzevičiūtė and Agnė Šimelytė

Energy Consumption and Economic Growth in Lithuania. The Engineering Economist, 22 (5), 510-518. doi: Campo, J., and Sarmiento, V., 2013. The Relationship between Energy Consumption and GDP: Evidence from a Panel of 10 Latin American Countries. Latin American Journal of Economics, 50 (2), 233-255. doi: Chen, P. Y., Chen, S. T., and Chen, C. C., 2012. Energy Consumption and Economic Growth - New Evidence from Meta Analysis. Energy Policy, 44 , 245-255. doi: http

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Ilona Bučiūnienė and Vida Škudienė

Impact of Leadership Styles on Employees' Organizational Commitment in Lithuanian Manufacturing Companies

This article investigates the relationship between employees' organizational commitment dimensions and leadership styles in Lithuanian manufacturing companies. The findings of the study reveal positive correlations between a transformational leadership style and affective and normative employee commitments. A laissez-faire leadership style was found to be negatively associated with employees' affective commitment.

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Alvija Sumskaite and Inga Juknyte-Petreikiene

Practice of Internationalisation of Higher Education and Its Counterparts in Lithuania . Kaunas: ISM. Beerkens, H. J. J. G. (2004). Global and institutional embeddedness: Higher education consortia in Europe and Southeast Asia. CHEPS [online]. Retrieved from . Brodin, J. (2010). Education for Global Competencies. An EU-Canada Exchange Programme in Higher Education and Training. Journal of Studies in International Education, 14 (5), 569-584. Bucharest Communique. (2012). Retrieved from http

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Gediminas Šlefendorfas


The paper is mainly devoted to the bankruptcy prediction models and their ability to assess a bankruptcy probability for Lithuanian companies. The study showed that the most common type of companies in Lithuania is a private limited company, therefore, the main objective was to analyse such companies’ financial information and by using these results, create a new bankruptcy prediction model, which would allow to predict the bankruptcy probability as accurately as possible. 145 companies (73 already bankrupt and 72 still operating) were chosen as a primary sample and by using multivariate discriminant analysis stepwise method a linear function ZGS has been created. To achieve that, 156 different financial ratios were selected as a primary input data by using correlation calculation between bankruptcy and still operating companies and Mann - Whitney U test techniques. The results showed that 89% of companies were classified correctly, which states that the model is strong enough to predict bankruptcy probability for private limited companies operating in Lithuania in a sufficient accuracy.