Estructura de capital de las PYMES ecuatorianas: Variación de la rentabilidad en función de las fuentes de financiamiento, caso de las medianas empresas societarias del Ecuador (MESE), sector de CIUU G4730.0 “Venta al por menor de combustibles para vehículos motorizados y motocicletas en comercios especializados”, período 2000 a 2012.

Abstract

This paper aims through an inductive process to identify the factors of internal and external sources of funding that affect the capital structure and profitability of midsize Ecuadorian companies (MESE), to meet this great objective are, first a short term approach on environment midsize businesses performed, then the analysis of the evolution of the indicators of solvency and profitability Ecuadorian MESE in the period 2000-2012, thereby allowing for generalities concerning its structure capital. Then we proceeded to the analysis of the evolution of financial indicators of CIUU G4730.0 medium enterprises engaged in the retail of fuels for motor vehicles and motorcycles in specialized stores sector, comparing these results with those obtained in the surveys executives of a representative sample of companies in this specific sector; with this it was determined important aspects in relation to the financial management of MESE like profitability ratio structure and how the executives decide about it.