Determinantes de la quiebra empresarial en las empresas ecuatorianas en el año 2016

Abstract

Abstract: In this article there are identified the determinant factors of the managerial bankruptcy for the Ecuadoran companies. A database is constructed from the countable information of the Ecuadoran companies that they bring to the Superintendence of Companies, Values and Insurances. One proceeds to divide the companies in two groups: healthy and failed assigning the value of zero (0) for the healthy companies and one (1) for the failed companies, of such a form, that the dependent variable is determined by a dichotomous variable. Using a logistic model applies himself to 80 companies with and without financial difficulties during the period 2011-2015, using financial ratios. he variables considered that they affect the probability of managerial bankruptcy of the Ecuadoran signatures, are the liquidity, the economic profitability (ROA), the financial profitability (ROE), the leverage and the financial load. One determined that the financial indicators that influence significantly the probability of financial difficulties are: the current liquidity (LIQ), the return on assets (ROA) and the coefficient of solvency (financial leverage); financial load and ROE are not statistically significant in this study.