Determinantes de la rentabilidad de las Pymes ecuatorianas: provincia Guayas, sector M691, periodo 2023

Abstract

Abstract: This research aimed to identify the determinants of profitability in Ecuadorian small and medium-sized enterprises (SMEs), specifically in the Guayas province, sector M691, during the year 2023. To achieve this, a multiple linear regression model was used, considering ROA and ROE as indicators of profitability, and liquidity, leverage, firm size, and company age as explanatory variables. The results showed that profitability, as measured by ROA, is significantly influenced by liquidity (1% significance level), leverage (5%), and company age (1%). Specifically, it was found that greater firm age and higher levels of debt tend to reduce profitability, while liquidity, although with a weak effect, contributes positively. On the other hand, firm size and the constant term did not show a statistically significant relationship with ROA. In the case of ROE, none of the independent variables showed statistical significance, suggesting that this indicator may be driven by other factors not included in the model. This study provides empirical evidence on the factors affecting the profitability of Ecuadorian SMEs, offering valuable insights for business owners, financial managers, and policymakers when making strategic decisions aimed at improving the sector s financial performanc.