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), en empresas de actividades de buques dedicados tanto a la pesca marina como a la preparación y conservación de pescado, CIUU A0311.05, período 2000 - 2012.

Abstract

In the implementation of this work the analysis of the macro environment MESE performed, CIUU A0311.05 covering the structure of the composition of the company, funding sources, overview of the capital structure, evolution of the indicators of solvency and profitability and the correlation between the indicators, revealing the parallel evolution of the same. A survey was applied to the financial managers of the companies in order to meet their profiles, level of education, professional experience, judgment on the sources of funding available and use financial tools. Financial management MESE focusing on financial managers, financing and financial tools described. In conclusion, the financial managers of our target group MESE make use of both internal and external leverage, succeeding in its management according to the profitability of their businesses, relying mostly on empirical experience but also making use of the tools financial.