Saturday, 25 March 2017: 09:40
The key element of every company’s strategy is growth, which requires financing sources that allow the fulfillment of operating and investment objectives. This may include external sources like loans or leases. Searching the financing sources that are adequate to the company’s capability means risk assessment for external capital acquisitions, which are also connected with a willingness to take risk. The willingness to take risk for economic entities utilizing real estate leasing was analyzed in the study, with a particular reference to the Polish market. Leasing development in Poland was connected with the political changes of the beginning of the 1990s, thus it required legal regulation of leasing contracts. As a result, entrepreneurs have relatively recently expressed their interest in analyzed forms of fixed assets financing. In most cases, this method of financing is related to machinery and equipment, means of transport, and (less often) real estate acquisition. The low share of real estate in leasing is a premise of the undertaken research, and in this study, we look for reasons for entrepreneurs’ low willingness to finance real estate with leasing. With this end in view, the reports of the Polish Leasing Association (PLA), own survey among entrepreneurs, and the available data from the Polish system of official statistics were used. PLA analysis of data and official statistics are used to assess the condition of real estate leasing in Poland. For the qualitative dimension of the research, preferences of lessees will be used in a multidimensional correspondence analysis.
References:
Bryx M. (2006). Rynek nieruchomości system i funkcjonowanie [Real estate market system and functioning], Wydawnictwo Poltext 2006.
History of Leasing. CLEO Canadian Finance &Leasing Asssociaciation, September 2010, s. 1–12.
Foryś I. ed. (2015). Najem na rynku nieruchomości [Tenancy on real estate market], Wydawnictwo Difin, Warszawa.
PGW działalnośćprzedsiębiorstwleasingowych [business activity of the leasing companies](2009, 2010, 2011, 2012,2013, 2014). GUS, Warszawa.
The Use Economics of Leasing Amongst European SMEs(2015). Oxford Economics.
White E. (2016). Global Leasing Report, White Clarke Group.
Keywords: real estate, financing, entities
JEL codes: G10, R31