Depreciation of fixed assets in companies constitutes a kind of separate finance category. By making a capital investment, a company receives two kinds of depreciation assets: assets resulting from unlocking value due to the depreciation allowance and assets resulting from the reduction of the tax base - a tax depreciation shield. Therefore, it should be assumed that as a result of unlocking value effect and tax effect from depreciation, depreciation assets (which are the major source of financing capital investments in companies) constitute a company's capital whose value and nature are of particular importance to Polish companies.

The survey results presented in this paper show the relations between the value of the depreciation assets and the volume of capital investment in Polish companies. It was found that the depreciation allowance used to establish depreciation capital is of vital importance, as it constitutes a source of investments made by the Polish companies. The companies included in the survey recognize the importance of depreciation assets for capital investment financing, but only to a very limited degree. They do not make use of the accelerated depreciation in order to advance the return of the capital invested in tangible assets, to increase the value of depreciation assets, or to reduce the extent of depreciation assets erosion resulting from inflation and income tax.