Endeudamiento y capital de trabajo en las empresas del sector de transporte del Ecuador en los años 2015-2023

Abstract

Abstract: The research examines the relationship between the level of indebtedness and working capital management in Ecuador's transportation sector during the period 2015 2023. A quantitative approach with a correlational and explanatory scope was applied, using sectoral financial information from official records. To analyze the interaction between the variables, an econometric model with panel data and robust fixed-effects regressions was used. The study considers the average collection period and the average payment period as dependent variables, while short- and long-term indebtedness were established as independent variables. Control variables included return on assets (ROA) and return on equity (ROE). The results show that indebtedness has a statistically significant relationship with working capital management, demonstrating that both collection and payment times have an influence. In addition, it was observed that greater operational efficiency, measured by ROA, reduces collection and payment times. In contrast, ROE did not have a significant effect. Overall, the findings indicate that the financing structure is related to the organization of working capital in the transportation sector during the period analyzed.