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National Currency Changeover to Euro: Case of Micro Enterprises of Trading Sector

In: Business Challenges in the Changing Economic Landscape - Vol. 2

Author

Listed:
  • Madara Pavare

    (RISEBA University)

  • Ilmars Kreituss

    (RISEBA University)

Abstract

The research investigates the changeover process of national currency to Euro, the theoretical aspects of proper project planning and practical implications for micro enterprises of trading sector. Joining Euro zone is a major project for private business sector as it may imply both extra costs and benefits. The research analyses to what extent Euro changeover planning phase was in accordance with project’s actual implementation phase and how presence of project plan affected the realization of the project. The paper assesses National Euro Changeover project and Euro introduction in micro trading enterprises in Latvia. Primary data were collected before and after Euro implementation through quantitative surveys of micro entrepreneurs involved in trading. The research results are justified with experts’ opinions directly involved in changeover project. An average Euro changeover project costs in micro trading enterprises have obtained and found that project costs are independent of presence of project plan while project time is dependent on project plan. Recommendations and a model Euro changeover plan for micro trading businesses has developed which can be used for Euro changeover in other upcoming Euro zone countries.

Suggested Citation

  • Madara Pavare & Ilmars Kreituss, 2016. "National Currency Changeover to Euro: Case of Micro Enterprises of Trading Sector," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Business Challenges in the Changing Economic Landscape - Vol. 2, edition 1, pages 435-447, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-22593-7_32
    DOI: 10.1007/978-3-319-22593-7_32
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