In order for a company to develop, it needs to be innovative. However, the company must first reach the right level of employment and turnover. In turn, in order for a company to reach this appropriate level, sufficient capital resources are necessary. A private equity fund provides primarily this last element, thus becoming the company's largest shareholder. The object of this article is to show the influence that private equity investments have on companies' activities, and especially on the growth of competitiveness and innovation performance. The study conducted by authors shows that a private equity fund has significant influence on the strategic decisions made by the company management, the direction of its development and the future ownership structure. The study also made it possible to determine the role that a private equity fund, being a shareholder of a given company, plays in creating its market position. An important source of empirical data is the author's own surveys and interviews with representatives of shareholding companies, as well as with private equity fund managers. Years of research: 1998-2016.The study involved 59 companies, which account for 11% of the entire population were taken into consideration. Several research methods were used in the study: the descriptive method, the comparative analysis method, the critical analysis method and the synthesis of conclusions method. Moreover, analysis of the results obtained within the study and the statistical data analysis were conducted.
The objective of the article is private equity and venture capital investments and their influence for companies activity. The article presents author’s own studies of the private equity investment influence for the enterprise activity. Comparing venture-backed firms and others shows, that venture-backed companies patent more than others firms and their ideas are higher technological and economic values. The vast majority of polish managers believe their company would not have existed or would have grown less rapidly without venture capital. Respondents also believe that venture capital funding encouraged employment, investment, R&D spending and export. An important source of empirical data are performed author’s own surveys and interviews with representatives of shareholding companies, as well as with private equity fund managers. Years of research: 1998-2009. The study used several research methods: a descriptive method, the method of comparative analysis, using the method of critical analysis and synthesis applications.
The paper explores the viability of a theoretical construct of an optimal structure of financing for Polish receiving companies in preparation for their acquisitions. The study was based on a sample of Polish receiving companies operating in the production sector in the period of 2002 -2013 and applied to periods of 1 year prior to the planned merger or acquisition. The research employed instruments of statistical analysis, with focus on linear and multinomial regression. The findings seem to confirm the utility of a theoretical construct representing a structure of capital deemed optimal to ensure an increase in asset operating profitability.
The article's main objective is to identify the factors influencing the financing structure and capital changes in the pre-merger periods in the acquiring companies. The authors examined the relations between various industries and different size companies. Based on the analyses, it can be concluded that in small companies, the explanatory variables identified based on the literature review were statistically insignificant in many periods (in fact almost all). Completely different behaviour was observed in the group of large companies, where the same set of explanatory variables was statistically significant. The result of the research on the existence of non-linear relationships between company parameters is that in the case of some variables, there is no question of a linear nature of dependence. The study analysed the five years preceding the mergers of 307 business entities. The source of the survey data was the database prepared by the company InfoCredit SA for the Accountants Association in Poland. The authors used Statistica software and inductive reasoning for the study -supported by Spearman's rank correlation analysis, linear and polynomial regression analysis, and variable scatter analysis.
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