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Mezzanine as an alternative form of corporate financing

Author

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  • Agnieszka Czajkowska

    (University of Lodz)

Abstract

The main goal of the article is the assessment of mezzanine financing as an innovative form in Poland, which might play a significant role in the dynamically developing companies which can’t obtain sufficient capital from traditional sources in the form of bank credits. Mezzanine may be applied to: financing investment projects, increasing the value of the company, the expansion of businesses through mergers and acquisitions, redemption of shares or the financing of leveraged buyouts. The main methodology used in this article is explanatory research and comparative analysis. The hypothesis assumes that mezzanine financing may become an important alternative source of funding for medium and large sized enterprises in Poland. This article presents the idea of mezzanine financing, its mechanism, structures and comparison to alternative funding, examples of such transactions costs. An important part is indication of types of mezzanine capital and applications in the USA, the UE including Poland as well as comparative analysis of advantages and disadvantages of mezzanine.

Suggested Citation

  • Agnieszka Czajkowska, 2014. "Mezzanine as an alternative form of corporate financing," Working Papers 37/2014, Institute of Economic Research, revised Dec 2014.
    • Handle: RePEc:pes:wpaper:2014:no37
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    More about this item

    Keywords

    Corporate Finance; Mezzanine Financing;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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