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), periodo 2000 a 2012. Clasificación CIIU A01 Agricultura, Ganadería, Caza y Actividades de servicios conexas.

Abstract

Midsize companies have a strong role in the economy because they generate 35% of non-oil GDP and employment for three million people, so it is a strategic hub for the socio economic development of Ecuador. The MESE require resources to operate and grow, they can come from internal and external sources (debt); this research seeks to create criteria that contribute to improving its financial management, based on evidence the relationship between the composition of the capital structure and the level of risk involved in each alternative financing; emphasizing the MESE ISIC A01: Agriculture, hunting and related service activities; sector in recent years has contributed approximately 8% of non-oil GDP, analyzing the profile and training of financial managers, sources and uses of financing and financial tools that the industry uses. The information from this research will help make financial decisions, build competitive advantage and continuity of MESE in the long run.