Struktura aktywów spółki a struktura kapitału w połączeniach polskich jednostek gospodarczych w latach 2002–2013
Assets Structure and Capital Structure in Mergers and Acquisitions of Polish Entities in the Years 2002–2013

Summary/Abstract: Purpose – This article aims to identify the relationship between the structure of assets and capital structure of the companies established as a result of the combination. The survey covers only Polish company, merged in the period 2002–2013. Design/methodology/approach – The relationship between variables (dependent and independent) are referred to the classical method of least squares. Findings – Among all surveyed companies (with the exception of extreme cases – 5% of the smallest and largest results) the relationship between the structure of assets and capital structure was statistically significant. Dependency ratio was positive and amounted to 0.066. The surveyed companies were divided into three groups, depending on the value of total assets (in the study adopted the natural logarithm of total assets). In the group of the largest companies in the relationship between variables was statistically significant, and the dependency ratio was highest and amounted to 0.153. In addition, the investigation found that the companies with the highest share of equity (25% of the companies with the largest share of equity ratio) is a statistically significant correlation between the structure of assets and capital structure. The coefficient is 0.55. Originality/value – An important contribution to science is to examine whether a group of Polish companies combined, there is a correlation between the structure of assets and capital.

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