La gestión financiera de corto plazo y el efecto en la rentabilidad de las empresas ecuatorianas del sector R: artes, entretenimiento y recreación, en el periodo 2012-2016

Abstract

Abstract:This research analyzes the short-term financial management and the effect on the profitability of 31 Ecuadorian companies in the R sector: arts, entertainment and recreation, in the period 2012-2016, applying the panel data methodology in STATA. We used as dependent variables the net margin, gross margin, net return of the asset and operating margin; and as independent variables the average period of collection, payment and inventories and cash conversion cycle; additionally, the independent control variables are current liquidity, financial leverage, impact of the financial burden and total assets. The results demonstrate the existence of a relationship between the management of working capital and profitability after the assumption of the existence of a relationship between the cash conversion cycle and the net return of the asset was accepted. The results are consistent with those obtained in research by several authors. The other variables proposed in hypotheses such as: average collection period, average payment period and average inventory period are not significant for the gross margin, net margin, operating margin or net return of the asset.