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 CIIU – F432 “Instalaciones eléctricas y de fontanería y otras instalaciones para obras de construcción

Abstract

The research work evaluates the main sources of financing that are part of the capital structure of the MESE; For companies classification ISIC - F432 "Electrical and plumbing installations and other construction site installations" At present the Medium-sized Enterprises of Ecuador present disadvantages in obtaining credits or financing to manage their operation; So starting from the premise of the analysis of the environment of the MESE, identifying and classifying them according to their location and activity; The objective of the titling work is to determine how the capital structure of a MESE is formed; Establishing in which percentage the small and medium-sized enterprises may or may not access third-party loans and / or are financed through own funds; Therefore, a financial analysis is performed so that microentrepreneurs determine what type of financing is the most appropriate to apply in their businesses, identifying the financial tools used for decision making, as well as the impact and correlation that is generated with the capital structure and Its indicators of profitability and solvency.