This article investigates the phenomenon of financial constraints in investment activities. Using a data set covering 2001-2011, we established that, despite the institutional changes and the financial system development, Polish firms remain financially constrained by the internally available...

This study analyses the impact of political connections on the operational performance of non-financial firms in a context of a post-transition European economy. Using a new and detailed data set covering the 2001-2011 period, we found that politically connected firms are much more numerous in...

This study analyses the impact of political connections on the operational performance of non-financial firms in Poland. Using a data set covering the 2001–2011 period, we find that political connections lower firm profitability, as measured on the level of income from sales. The negative...