Determinantes de la rentabilidad de las PYMES ecuatorianas: provincia Guayas, sector G465, periodo 2023

Abstract

Abstract:This research analyzes the factors that influence the accounting profitability of small and medium-sized enterprises (SMEs) in the wholesale machinery, equipment, and materials sector in the province of Guayas during 2023. A multiple regression model was applied to evaluate the relationship between return on assets (ROA) and variables such as liquidity, debt, size, and company age. Additionally, return on equity (ROE) was included as an additional indicator to assess financial profitability. The results show that the variables together explain a small proportion of ROA behavior, with debt and company age being the only factors that exhibited a negative and statistically significant relationship with profitability, suggesting possible deficiencies in the use of external financing and structural limitations in companies with a longer track record. Furthermore, the ROE reflected a greater sensitivity to leverage, highlighting risks to equity. The study provides an updated view of the sector's financial performance and suggests methodological and strategic recommendations for future research.