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

Abstract

Small and medium enterprises have grown significantly in recent decades in the country and is required to determine the factors of internal and external sources of funding that affect the capital structure of the MESE and profitability. For the analysis of this research a sample survey, which allowed to investigate the capital structure of Ecuadorian SMEs and the variation in profitability according to the sources of funding for medium-sized Enterprises Corporate Ecuador (MESE) period was used 2000- 2012, and then the results were examined, and the results of these. In this study, it was found that the composition of the capital structure is specific to each company, which have a shortage in the use of appropriate financial tools, they are indispensable for the proper financial management and a hierarchy of preferences in their funding decisions.