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), A0119.03 cultivo de flores, incluida la producción de flores cortadas y capullos, periodo 2000 a 2012

Abstract

This final project degree is part of a national research project, which tries to find the factors of internal and external funding sources that condition the capital structure and profitability of Corporate Medium Enterprises of Ecuador from 2000-2013. The development of this work focuses on Corporate Medium Enterprises of Ecuador that according to the National Classification of Economic Activities belong to the growing flowers, including the production of cut flowers and buds. With this work it has been confirmed that external funding sources affect the profitability of medium enterprises in general. From the perspective of medium enterprises, the external sources funding improve profitability, nevertheless it is clear that the financial system institutions are structured to provide credit with certain conditions and requirements that hinder access to them. The MESE (Corporate Medium Enterprises of Ecuador) consider the use of financial tools, mainly, proforma balance sheets and cash flow for the management and decision-making that generates competitiveness.