Incidencia del cash-flow en la probabilidad de quiebra en las empresas del sector C, de la provincia Azuay de Ecuador, períodos 2019 - 2023

Abstract

Abstract: The research focused on analyzing the influence of cash flow on the probability of bankruptcy of manufacturing companies in sector C in the province of Azuay from 2019 to 2023. A quantitative, non-experimental, and correlational methodology was applied through document review. Information was gathered from the official websites of the Superintendency of Companies, Securities, and Insurance. The results show variations in liquidity throughout the period, indicating that some companies have the capacity to cover immediate debts; however, there are entities with low levels of liquidity, which affects business continuity. Regarding solvency, several entities showed high levels of indebtedness, increasing financial vulnerability during periods of higher investment. The behavior of operating cash flow revealed periods of both strength and economic strain for certain companies. The correlational analysis shows a positive relationship between cash flow and Altman's Z-score model, indicating that good liquidity reduces the probability of bankruptcy.