Estructura de capital de pymes ecuatorianas: Variación de la rentabilidad en función de fuentes de financiamiento, caso de las medianas empresas societarias de Ecuador (MESE), periodo 2000 a 2017. Clasificación CIIUC293 Fabricación de partes, piezas y accesorios para vehículos automotores

Abstract

Abstract:The national research project called Variation of profitability based on sources of financing, in the case of medium-sized companies in Ecuador (MESE), period 2000 to 2017. ISIC Classification C293 manufacture of parts, parts and accessories for motor vehicles , allowed demonstrate the situation that the MESE is going through in relation to internal and external financing sources that condition the capital structure and how they affect the profitability of the MESE. For the MESE with ISIC C293 classification, the sources of financing used are: the own financing obtained from the reinvestment of profits, capital increase of the shareholders; and external financing from bank loans. In addition, MESE with ISIC C293 classification prefer social capital as a type of financing, to maintain financial independence; as a second alternative they go to suppliers and in a smaller proportion to credits in financial institutions.