Estructura de capital de las PYMES ecuatorianas: Variación de la rentabilidad en función de las fuentes de financiamiento, caso de las Medianas Empresas Societarias de Ecuador (MESE), periodo 2000 a 2012. Clasificación CIIU - F 4220 “Construcción de proyectos de servicios públicos

Abstract

In the present work an analysis of the factors affecting the definition of the optimal composition of capital and its involvement in income from Corporate Medium Enterprises of Ecuador (MESE) is developed, in addition to a study of how the perform of these factors account for decisions on funding sources, access features and benefits of the internal or external market. It is considered that financial management is a tool to increase profitability, operational and structural soundness. By means of the findings matching the state of the art, found in most small and medium enterprises (SMEs) in the Ecuadorian economy, it attempts to confirm that these companies do not have access to financial assets and sophisticated passive, so the development is motivated of this research to determine how to improve performance of MESE based on the use of financial indicators, risk perspective in decisions of corporate finance, investment decisions and a sound dividend policy, as the core of the financial direction on MESE.