Michalski, Grzegorz

Can we determine debt to equity levels in non-profit organisations? Answer based on Polish case = Úroveň zadlženosti poľských neziskových organizácií / Grzegorz Michalski ... [et al.]. -- The goal of the article is to find the answer whether it is possible to propose a model for fixing the best debt levels in the capital structure of non-profit organisations. Capital structure is an indicator that corroborates the level of financial risk. Non-profit organisations are an essential part of the general social policy. When considering the efficiency of non-profit entities from a donor perspective, it is important to take into account the way management uses the resources of a non-profit organisation as well as efficiency of that management activity. Non-profit organisation efficiency should be considered in the context of risk. One of the most important ways to increase probability to face financial distress is too high debt to equity relation. The paper illustrates the relationship between debt and equity in 1,560 Polish non-profit entities. The model which can fix optimal capital structure for a non-profit organisation in its current environment was delivered. The proposa

In Inžinerinė ekonomika. -- Kaunas : Kauno technologijos universitetas, 2018. -- ISSN 1392-2785. -- ISSN 2029-5839. -- Vol. 29, no. 5 (2018), pp. 526-535