Incidencia del capital de trabajo en la rentabilidad de las pequeñas empresas ecuatorianas del sector comercio al por mayor y al por menor reparación de vehículos automotores y motocicletas CIIU G463, en el periodo 2020 - 2024

Abstract

Abstract: The research evaluated the impact of working capital on financial performance in 129 Ecuadorian small commercial enterprises (ISIC G463) during the 2020-2024 period. For the analysis, a quantitative, correlational, and longitudinal approach supported by regression models was employed. Based on the results obtained through the financial tools used, it was determined that working capital did not significantly affect the profitability of small businesses. This lack of impact is justified because the operational variables explained barely 19.6% of the variability of the return on assets, due to a marked volatility in the cash conversion cycle and a stagnation in sector sales. Under this scenario, the data demonstrated that profit was conditioned by external factors and by debt, which showed an extraordinarily strong negative effect. Consequently, inventory and portfolio management functioned only as a tool to maintain daily liquidity, losing the capacity to generate real profits in the studied businesses.