Determinantes de la rentabilidad de las Pymes ecuatorianas: sector G476, periodo 2023

Abstract

Abstract: This study aims to examine the factors that influence the profitability of small and medium-sized enterprises (SMEs) operating in the G476 sector in Ecuador. The primary focus is on analyzing how internal factors such as debt levels, liquidity, corporate size, and company age affect their financial performance, as measured by the ROA (Return on Assets) ratio. Using a linear regression model based on the financial data of 65 SMEs, it was shown that debt has a statistically significant negative relationship with profitability. This explains why greater financial leverage tends to reduce the benefits acquired individually in each designated asset. This finding reinforces the need to maintain equity in an orderly manner to support the financial strength of SMEs in the future. Regarding liquidity, although no direct or significant impact on ROA was evident, it stands out due to the degree of influence it exerts on the safe and effective management of resources in order to secure short-term financial stability and meet its financial obligations in a timely manner. The size and age of the companies analyzed did not have a major statistical impact on the profitability analysis. In addition to the aforementioned, in the group analyzed, factors such as productivity, management quality, and commercial adaptability are indicated to have a more direct impact compared to the level of assets or lifespan.