文章基本信息

标题：The Role of Bank Credits in Investment Financing of the Small and Medium-sized Enterprise Sector in Poland
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作者：Joanna Duda
期刊名称：Ekonomia Menedzerska (älter als 2 Jahre)
印刷版ISSN：1898-1143
出版年度：2013
卷号：13
页码：7-20
DOI：10.7494/manage.2013.13.7
出版社：Akademia Górniczo-Hutnicza
摘要：Small and medium-sized enterprises have considerable impact on economicdevelopment. They produce more than 55% of GNP and employ about 60% ofall human resources, including 39.5% employed by micro enterprises, 15.2%by small, and 24.4% by medium-sized enterprises [21]. However, these entitiesencounter a range of barriers to their development, in particular of a financialnature. Specialists believe growth of such enterprises is largely dependent onaccess to external sources of financing. Efficient obtaining and utilisation ofcapital may strengthen competitive standing of a company, help survive in themarket and undertake pro-development projects. Investment into innovation,which requires significant capital commitment, is a factor in building a lastingcompetitive advantage. Polish SMEs have long financed their investments fromthree sources: own capital (insufficient for such expenditure) bank credits andleasing. Problems are commonly mentioned that these enterprises have obtainingbank credits. Therefore, this paper analyses sources of financing for investmentactivities of the Polish sector, particularly focusing on the role of bank creditingin this process. This objective is realised through a review of relevant literatureand analysis of empirical results published by the Polish Confederation of PrivateEmployers ‘Lewiatan’, Polish Agency for Enterprise Development (PARP),the Economy Ministry, National Office for Statistics (GUS), and the author’s ownresearch.