La gestión financiera de corto plazo y el efecto en la rentabilidad de las empresas ecuatorianas del sector K: actividades financieras y de seguros, en el periodo 2012-2016

Abstract

The purpose of this research work is to determine the influence of working capital on the margin and profitability of financial and insurance companies. To meet the objective, the financial information of 1097 companies in the K sector was used from 2012 to 2016. This information was obtained from the Superintendence of Companies and Insurance of Ecuador.. The methodology used is quantitative and the panel data technique was applied applying multiple regression with fixed and random effects. The dependent variables included in the model are: gross margin (MB) and net return on assets (ANN). The independent variables are: cash conversion cycle (CCE), average inventory period (PMI), average collection period (PMC), average payment period (PMP), current liquidity (LC), financial leverage (AF), the financial burden index (ICF) and total assets (LOGACT). The empirical evidence shows that the gross margin depends positively on the average collection period, current liquidity, financial leverage and the financial burden index, while the net return on assets depends positively on the average collection period, current liquidity and financial leverage.