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 2013, caso de las Empresas clasificación CIUU - H 5320 Servicios de recolección, clasificación, transporte y entrega (nacional o internacional) de correspondencia ordinaria y paquetes.

Abstract

This investigation project is about the evaluation and setting of the most important facts of the internal and external funding that determinates the structure of the capital and the profitability of medium sized companies associated to Ecuador MESE. Starting from the premise of the analysis of the environment of MESE, identifying them and classifying them according their location and activities, who is the regulator that defines them and according to what they are defined. The current contribution of this investigation project is to determine what percentage of PYMES can access to credit from third parties and that percentage is financed with equity; therefore it’s discussed how and what many entrepreneurs rely on to determine the type of financing according to the capital structures of their businesses, given this approach to evaluate the financial management in MESE , determining the dispersion of performance for each productive branch, identifying financial tools used for decision making, and the effect and generated correlation with the capital structure and profitability ratios and solvency.