La gestión financiera de corto plazo y el efecto en la rentabilidad de las empresas ecuatorianas del sector actividades profesionales, científicas y técnicas, en el periodo 2012-2016. (Trabajo de Titulación de Magíster en Gestión Financiera ). UTPL, Loja

Abstract

The study explores the impact of the administration of working capital on the profitability of Ecuadorian companies in the sector of scientific and technical professional activities. The efficiency of working capital management has been measured by the average inventory period, the average collection period and the average payment period. The effect of proxy variables such as general liquidity, acid test, financial leverage and the impact of the financial burden has been evaluated. Profitability was measured based on gross margin, operating margin and net return on sales. The sample was of 300 companies during the period 2012-2016 and the data panel method was applied. It was determined that the accounts receivable, the inventories, the impact of the financial burden and the volume of the assets influence the profitability of the companies, in addition, there are high levels of liquidity. It recommends optimal policies for the management of accounts receivable and inventory, as well as the investment of available cash.