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 G4690, en el periodo 2020 - 2024

Abstract

Abstract: This study analyzed the incidence of working capital on the profitability of small Ecuadorian companies in the wholesale and retail trade sector, including the repair of motor vehicles and motorcycles, classified under CIIU G4690 in Ecuador, during the period 2020-2024. Methodologically, the research followed a quantitative approach, with a non-experimental longitudinal design and a descriptive-correlational scope. This methodology made it possible to analyze the financial information of 37 companies registered with the Superintendence of Companies, Securities and Insurance. Multiple regression models were also applied to evaluate the effect of days accounts receivable, days accounts payable, inventory days, and the cash conversion cycle on profitability, measured through ROA. The results indicate that the components of working capital do not show an incidence on profitability. However, sales growth shows a positive relationship, while leverage presents a negative relationship with ROA. It is concluded that, during the period analyzed, profitability was more closely related to commercial growth and the level of indebtedness than to working capital management.