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) clasificación CIIU C1811.0, período 2000 a 2012.

Abstract

In developing the present study we analyzed Medium Enterprises Corporate Ecuador (MESE) and types of financing on the market, concluding that funding plays a critical role in the performance of MESE. By analyzing financial indicators MESE, period 2000 to 2012, it was determined that the debt levels are high but despite this financial leverage in any year was under 1; if we add the curve of the net return on assets has a positive slope can say that the capital structure of the MESE increases both solvency indicators as profitability indicators. It showed that MESE are managed on the basis of theoretical training about found that managers have university education and also consider the use of financial tools such as cash flow, budgets and inventory control are fundamental for the development of their activities.