Financing of Innovation in Łódź Region Companies

Jerzy Różański

Abstract


The purpose of this article is to present the results of empirical studies on the financing of innovation in production and service companies in the region of Łódź. The results of empirical studies were confronted and compared with the results of earlier studies carried out by K. Janasz. It appears that that the main capital source for companies are still the equity, especially retained earnings and contributed capital. Only minority of companies uses alternative sources of capital (venture capital, business angels), funds from capital market (share and bond issue). The main source of debt funds are still bank loan and, to a lesser extent, leasing.


Keywords


financing of innovation; Łódź region; equity and debt; alternative sources of capital

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DOI: http://dx.doi.org/10.17951/h.2015.49.4.493
Date of publication: 2016-01-28 11:03:46
Date of submission: 2015-07-10 11:16:32


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