Determinantes de la rentabilidad financiera en el sector de consumo del Ecuador y su estructura de capital

Piero Nivela Rodríguez and Juan Carlos Campuzano

X-pedientes_Económicos, 2018, vol. 2, issue 4, 6-23

Abstract: The commerce sector is one of the main markets in the Ecuadorian economy given that it maintains an important representation at the level of GDP (Gross Domestic Product), however, despite this there are no studies on the different variables that influence the generation of profitability for this sector, as well as in its capital structure. The present study allows to determine which are the main variables and the different profiles that a company in this sector should have to register high levels of financial profitability, through the CHAID methodology, as well as determine the capital structure and its Weighted average cost for companies that are considered profitable in this analysis. The results show that the ROA, the leverage and the indebtedness of thepatrimony are the main variables that allow the generation of high rents in this sector, while it is also foundthat the capital structure is concentrated mainly by means of the debt and the influence that exists in the high cost of the issuance of credits for the participants of this niche, which means a complexity for the stability of the business, being linked in an important way the profitability with the leverage. According to what has been indicated, this study corresponds to a tool for the analysis of public policies regarding the setting of interest rates according to the market

Date: 2018
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