Struktura kapitału w cyklu życia przedsiębiorstwa
The structure of capital in the company life cycle

Summary/Abstract: Development of business is cyclical. It seems that the capital structure changes with time. The paper describes some research on the evolution of capital structure in different phases of its life, which is associated primarily with the possibilities of capital, policy on retained earnings and dividends and the volatility of economic activity. Data were used to study for Polish listed companies in 2008 and 2009.

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