Analysis of the capital structure of the Zywiec Group in the context of financial risk management

Abstract

Capital is certainly the most important determinant of business activities regardless of the size and the type of enterprise. The
issue of funding source arises at the stage of business planning and organising. Business practice confirms that enterprises
with an inappropriately designed capital structure are exposed to higher financial risk. Enterprises have limited impact on risks
connected with the macro-environment. Businesses cannot directly affect the interest rate level on the market or exchangerate fluctuations. However, enterprises can manage the financial risk, minimising its negative effects by appropriately adjusting
the sources of finance and development. This article provides a capital structure analysis of the Zywiec Group. Capital structure
analysis is part of business financial analysis and supports the process of financial risk management in an enterprise.