Reliability and Reputation of the Board Member in Latvia

Abstract Research purpose. The purpose of this article is to investigate the most important risk factors in the assessment of the reliability and reputation of the Board Member for the implementation of responsible business activities in Latvia. Design/Methodology/Approach. The research methods used in the current article are a comparative analysis of the legal bases and other regulative documents and case studies. The case study is based on the economic and legal analysis of legal acts using descriptive, analytical, deductive and inductive methods, based on which the authors draw conclusions about the reliability and reputation of the Board Member in assessing the key risk factors of their responsibility. The following data collection methods were used to achieve the set goal: analysis of special literature and internet resources and document analysis. Findings. The risks of the responsibility of a Board Member are still not a completely researched topic in Latvia. There is no common understanding of the reliability and reputation of a Board Member. The legal framework is incomplete, which has a negative impact on the responsible business in Latvia. Originality/Value/Practical implications. The study contributes to the implementation of a responsible business environment by creating a common understanding of the risks of a Board Member’s responsibility.