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

This end of degree work: capital structure of Ecuadorian MESE, variation of profitability based on the sources of funding, if the medium corporate companies of Ecuador, period 2000 to 2012, it has like a main objective to determine the factors of the sources of internal and external financing affecting MESE´s capital structure and profitability, with the purpose of analyzing the evolution of financial indicators and determine the impact of the capital structure in the profitability and solvency indicators. The questionnaire applied in this research was directed to managers in order to assess their financial management and identify the financial tools that entrepreneurs use to make decisions about capital structure. Response to the collected data and its analysis, intends to the recommendations addressed to financial managers, which strengthen the structure of capital, its financing, the proper use of financial tools and its impact on decision in order making to maximize the value of the company