Incorporación de la perspectiva de género en las políticas de dividendos: implicaciones sobre la solvencia financiera y el rendimiento accionario de las empresas ecuatorianas del sector CIIU M70, durante el periodo 2018-2024

Abstract

Abstract: This study analyzes the representation of the gender perspective in the governance and leadership structure of dividend policies, and its relationship with the solvency and stock returns of companies in Ecuador s M70 subsector during the 2018 2024 period. The methodology employs a quantitative approach with a descriptive-correlational scope and a non-experimental longitudinal design, based on a sample of 140 observations. The findings indicate that women hold 14% of legal representative positions, 17% of general management positions, and 32% of board chair positions. The t-test confirmed that the gender of executive leadership determines the dividend payout ratio (p = 0.02); that is, companies with female leadership retain profits rather than distributing them. Finally, the correlation between female leadership positions and ROE was significant (r = 0.20; p = 0.02), while leverage emerged as the main determinant of return on equity (r = 0.42; p = 0.00). The findings reinforce the strategic value of gender diversity on boards of directors as a factor associated with higher return on equity.