Financial leverage and capital structure of enterprises in Poland Executive
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
Article contains empirical studies on the possibility of the use of financial lever-age in shaping the capital structure of enterprises in Poland. Studies on aggre-gate statistical data from the years 1995-2010 for industrial enterprises and con-struction. Studies have shown that in Poland the possibility of using leverage to improve ROE occurred. 2003-2005. However, despite this ability to use foreign capital companies as leverage, as evidenced by the decrease in the participation of foreign capital in this period in the capital of the total enterprises. In the earlier period. up to approx. 2003-2005, the conditions exist for the use of leverage because the ROIC ratios were lower than the cost of foreign capital.
Authors and Affiliations
Zbigniew Dresler
Keywords
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