La Gestión Financiera en el corto plazo y el efecto en la rentabilidad de las empresas ecuatorianas del sector G47: Comercio al por menor excepto el de vehículos automotores y motocicletas, durante el período 2012-2016

Abstract

The present study seeks to demonstrate the impact of working capital management on the profitability of Ecuadorian companies registered with the superintendent of companies under category of G47 (Retail Trade). To this end, complete financial statements from 383 companies registered in said category have been analyzed. The management of working capital is important to the administration of any company, specifically as it relates to Performance on Assets (RNA) and gross margin. The results of this study show a statistically significant positive relationship between the gross margin, average collection, inventory and payment period. With respect to Net Return on Assets, there is a statistically significant negative relationship between the Average Inventory Period and Payment Period. Lastly, the data shows a positive correlation between the management of working capital and the size of the company.