Dinámicas de la madurez de la deuda y desempeño financiero en las pymes ecuatorianas del subsector CIIU G47 comercio al por menor, excepto el de vehículos automotores y motocicletas durante el período, 2018 a 2022

Abstract

Abstract: This study analyzes the relationship between debt maturity and financial performance in Ecuadorian small and medium-sized enterprises (SMEs) in the CIIU G47 subsector (retail trade, except motor vehicles and motorcycles) during the period 2018-2022. Through a mixed methods approach, quantitative analysis of financial indicators (ROA, ROE, debt) was combined with a qualittive perspective to understand financing decisions. The results show a tendency for PYMES o reduce their long-term debt as a precautionary measure in the face of unstable economic contexts, which impacts both their profitability and operational efficiency. A partial recovery in ROE was detected after the 2019 decline, while ROA showed little improvement, reflecting problems in the efficiency of asset use. This research contributes to the understanding of the financial dynamics of Ecuadorian PYMES and offers input for strategic decision-making regarding financing.