Incorporación de la perspectiva de género en las políticas de dividendos: implicaciones sobre la solvencia financiera y el rendimiento accionario de las empresas ecuatorianas

Abstract

Abstract: The presence of a gender perspective in corporate governance has become a highly important topic in financial analysis, as it may influence financial performance in various ways, including decision-making processes, profit distribution, and the development of strong corporate policies. Therefore, the present study aimed to investigate the association between gender representation in management bodies and financial characteristics such as profitability, solvency, and dividend policy among companies in the canton of Cuenca. The methodology employed a mixed-methods approach, which included a quantitative component based on the documentary analysis of financial statements, as well as a qualitative component supported by semi-structured interviews with key informants. The sample consisted of companies that met several inclusion criteria, including company size, corporate domicile, economic activity, and access to financial information. The findings revealed mixed results regarding trends in Return on Equity (ROE), solvency, and dividend distribution among the companies, while most firms opted for profit retention. The interviews also indicated that female participation was associated with prudence in savings, risk control, and a long-term sustainability-oriented approach. Furthermore, the gender perspective has been recognized as an important dimension of corporate governance; however, it does not necessarily show a positive relationship with profitability, but rather an association with financial discipline and operational continuity.