La gestión financiera de corto plazo y el efecto en la rentabilidad de las empresas ecuatorianas del sector transporte y almacenamiento durante el período 2012-2016.

Abstract

The objective of this research is to analyze the impact of working capital on the profitability of Ecuadorian companies in the transport and storage sector during the 2012-2016 period. The study is of a quantitative type with a transversal and longitudinal focus, where the influence of the management of the working capital measured through the average collection period, the average period of payments and the average inventory period, on the gross and the net profitability of sales. Proxy variables such as financial leverage, liquidity and the impact of the financial burden were included. The sample was of 1,102 companies during the period 2012-2016 and the panel data method was applied. It was concluded that the rotation of accounts receivable and the rotation of inventory, influence the gross margin of the companies. However, only the average collection period has a high correlation with the gross margin; in this sense, the increase in accounts payable positively impacts the profitability of transport and storage companies