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Influencia del mercado de valores en las empresas emisoras: Caso Ecuador

Israel Fernández,

X-pedientes_Economicos, 2019, vol. 3, issue 5, 37-54

Abstract: The stock market is an alternative financing (non-traditional) in emerging or developing countries for companies and investors in their environment. However, in Ecuador this financing mechanism is not developed formany reasons, including the low insertion of companies as issuers of securities. The objective of this research is to analyze the economic and financial performance of the companies issuing securities from 2013 to 2017 and determine what has been the level of influence of entering the stock market. This paper is totally new for the Ecuadorian economy since there is no previous research that determines the effect of having made a securities issue, additionally econometric techniques are used to demonstrate the robustness of the results and determine the influence of the stock market in companies. The results show that companies that are in the stock market have better levels of total assets, stock of capital and gross profit than when they were not in the stock market, however the results do not find evidence in favor of obtaining better levels of sales, rates of profitability and profit.

Date: 2019
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Handle: RePEc:xpe:journl:v:3:y:2019:i:5:p:37-54