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), con clasificación CIIU: F4100, dedicadas a la construcción de edificios, periodo 2000 a 2012

Abstract

Effective management by financial managers, to medium size enterprises (MESE for its acronym in Spanish), is crucial to boost the economy in Ecuador. The knowledge about the profile of financial managers, their companies and the environment in which they operate, regarding the sources of funding available, and the successful creation of the capital structure in the companies they represent, is important when it comes to discover phenomena that either benefits or affects organizations. This work contributes using quantitative and qualitative methods to the specific study of medium size enterprises classified by ISIC (International Standard Industrial Classification of All Economic Activities), F4100, belonging to the productive sector, dedicated to building construction. The research finds answers to the difficulties of companies to obtain greater profits, based on the proper conformation of its capital structure. The study of companies and their main sources of funding, helps to understand deeply about the problems that ironically day by day these enterprises suffer, being one of the most important business segment in the country, those problems threaten and limit their economic development, affecting their perpetuity in the Ecuadorian market.