Caracterización de la estructura de deuda para Pymes ecuatorianas en el mercado de valores

Abstract

The document presents an inquiry about SMEs that use the securities market as a source of financing through debt. Characterization of the public offer prospectus of 93 SMEs that issued bonds and commercial paper between 2011-2017 is carried out through a system of measurable categories in frequencies and averages, also basing with the application of a semi-structured interview to six stock experts who placed REVNI during its validity The objective is to analyze the quality of information required by the standard and the extent to which the structurers present it, naturally complemented by the perception of the interviewees in terms of reducing the problem of information asymmetry. The results show that indeed the extensive contents in the prospectus are condensed in an irreplaceable instrument, sufficient and necessary to cover the information needs of the investor.