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.

Abstract

Given the importance of SMEs for economic growth and employment generation of Ecuador, the need to perform this research, whose theme is the capital structure of Ecuadorian SMEs and the variation in profitability according to their sources financing, in the case of the Corporate Medium Enterprises Ecuador in the period 2000 to 2013. Its main objective is to determine the factors of internal and external sources of funding that affect the capital structure and profitability of the same. The behavior and evolution of its financial indicators for the period 2000-2012 is analyzed. Leverage, financial leverage, debt and equity asset borrowing establishing its correlation with financial performance is discussed. The methodology is the statistical analysis of data obtained through the technique of survey of managers of selected MESE. Concluding that the capital structure held by the company will depend its production capacity and strengthening the business.