Struktura finansowania firm rodzinnych na przykładzie przedsiębiorstw regionu łódzkiego
Family business financial structure analysis of the Łódź region companies

Summary/Abstract: Previous research on financial policy of family business enterprises indicates a significant level of equity financing and low level of debt. The goal of this paper is to specify the financial policy of chosen group of family business companies. On the basis of questionnaire research conducted on the sample of companies from the Łódź region we established that those units usually avoided debt and did not use external sources of equity. Analyzed family business companies usually maintained high level of financial liquidity that proved high risk aversion. Capital structure of family business company changes differently in comparison to non-family ones. This supports a thesis of unique family business financial structure.

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