La competitividad del financiamiento mediante deuda para Pymes, a través del mercado de valores

Abstract

The need to improve capital costs taking companies to obtain external monetary resources, motivated to venture into new financing mechanisms, through the stock market. This research analyzes the competitiveness of the market as a financing alternative for Ecuadorian SMEs, from the aspects of structuring public offering, rate, term, frequency of payment of principal and interest and feasibility of access to financing minimum of one year to be option investing public. The study covers 121 financial dynamics of SME debt stations that were active since June 2010 cut in August 2015, and used the stock option mechanism as liquidity, securities and commercial paper obligations.