The Acquirement and Functioning of Mezzanine Capital on the Example of Enterprises Operating in the Republic of Poland

A survey of international literature provides an overview of mezzanine capital and its comparison with other sources of funding. It also explains the characteristics of the cost of financing, taking into account various forms of compensation for the investor. The aim of this study is to analyze the conduct of companies in the initial period after obtaining mezzanine capital, while functioning in general conditions of economic growth. Tools used for the analysis of hypotheses were statistical methods applied for the selected economical and financial figures. The performed analysis of mezzanine financing was also used for the evaluation of size of enterprises applying this method of financing. Studies have shown the correlation of net sales revenue and net profit. The analysis also proved that it is mostly medium and large enterprises from developing countries, who receive funds in form of mezzanine capital. While applying for this type of funding the companies have had stable cash flows, but their access to the required amount of capital was limited.