Financiamiento y desempeño financiero en las empresas del sector de actividades de alojamiento y de servicios en Ecuador.

Abstract

The objective of this research is to provide information on the relationship between the capital structure and the profitability of the lodging and meals services sector in Ecuador (I 54-I 55). To this end, the 471 companies registered by the Superintendency of Companies, Securities and Insurance of Ecuador, corresponding to the 2016 period, were considered. At the methodological level, the use of panel data was opted for through correlation analysis and multiple regression analysis. The variables used for this work were economic profitability and financial profitability, as dependent variables, total debt, debt over assets, liquidity and size of the company, as independent variables. Finally, the results obtained show that financial profitability is positively related to total debt, while economic profitability is negatively related to total debt. In addition, financial profitability and economic profitability have negative relationships with debt over assets, and the size of the company.