Struktura zadłużenia firm polskich na tle wybranych krajów europejskich na tle kryzysu z 2008 roku
Comparison of the debt structure of Polish companies with selected EU member countries against the background of the financial crisis from 2008

Summary/Abstract: The paper presents results of panel analysis of debt structure of Polish companies during the period of 2004-2011. They are compared with German, French, British, Greek, Finnish and Italian firms. The results reveal that the levels of debt are very stable on the microeconomic level. The increasing level of leverage was specific for Polish economy. The effects of global financial crisis are more visible on the macro level, but they still do not change existing trends. Panel analysis also shows that all recognized in literature factors determining debt structure are not explaining differences in changes and levels of leverage between micro and macro levels.

• Details
• Contents