The Structure of Capital and Revenue in Social Enterprises
Struktura kapitału i przychodów w przedsiębiorstwach społecznych

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Szymańska Aleksandra, Jegers Marc
Wydział Ekonomii Stosowanej / Department of Applied Economics, Vrije Universiteit Brussel
Pleinlaan 2, B-1050, Brussels, Belgia
e-mail: Aleksandra.Szymanska(at)vub.ac.be; Marc.Jegers(at)vub.ac.be

SŁOWA KLUCZOWE

przedsiębiorstwo społeczne, organizacja pożytku publicznego, struktura przychodów, struktura, kapitał, kapitał własny i zobowiązania

KEYWORDS

social enterprises, public benefit organisations, revenue structure, capital structure, income, equity and debt

STRESZCZENIE

Obecnie przedsiębiorstwa społeczne decydują się na wybór strategii, które zapewniają im stabilizację w realizowaniu ich misji społecznej. W niniejszym artykule zbadano wpływ struktury finansowej, formy prawnej oraz obszaru działalności na kształtowanie się struktury kapitału oraz struktury przychodów. Analizie zostały poddane sprawozdania finansowe polskich przedsiębiorstw społecznych, z uwzględnieniem wspomnianych czynników. Otrzymane wyniki pozwalają wnioskować o istnieniu istotnych różnic w strukturze przychodów, strukturze pasywów oraz strukturze kapitału pomiędzy przedsiębiorstwami społecznymi w Polsce. Ponadto wskazują one na silny wpływ na strukturę kapitału zarówno środowiska, jak i czynników generowanych przez sektor, w którym prowadzona jest działalność.

ABSTRACT

Social enterprises follow financially sustainable strategies to achieve their social goals and to solve a wide range of social problems. Our main research questions aim at discovering differences in the structure of capital and revenue of social enterprises in different sectors and their having different legal forms. We analyse the financial statements of Polish social enterprises and capture relations between legal forms, domains of activities and their financial structure. We find that there are significant differences in revenue, equity and debt structures. Furthermore, we find that the capital structure of social enterprises is highly dependent on the environment and conditions under which they are active.

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SUGEROWANE CYTOWANIE / SUGGESTED CITATION

Szymańska A., Jegers M. [2014], The Structure of Capital and Revenue in Social Enterprises, "Ekonomia Społeczna", nr 1, s. 51-68.