Factores determinantes de la estructura de capital en las empresas agrícolas de la zona 3 del Ecuador.
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2020-11
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Abstract
Este presente trabajo investigativo está enfocado en conocer cuál es su capital propio,
capital de deuda y su rentabilidad en las empresas agrícolas de la zona 3. En el
desarrollo del estudio, se determinaron los factores determinantes que influyen en la
Estructura de Capital como son: rentabilidad negativa o positiva, endeudamiento a
largo y corto plazo, activo, liquidez, costos, ventas, capital propio, interés.
Mediante la información recopilada de las empresas se hace referente su nivel macro,
meso y micro, tomando en cuenta un análisis crítico mediante del árbol de problemas
para identificar causas y efectos, dado así el cumplimiento de los objetivos. En sus
delimitaciones están designadas específicamente su campo y espacial de acorde a la
investigación. Su fundamentación legal está basada al reglamento actualizado de las
empresas agrícolas y su investigación fueron obtenidas de fuentes secundarias que
reposa en las páginas web de las instituciones de control: Superintendencia de
Compañías, Instituto Nacional de Estadísticas y Censos; su procedimiento y análisis
esta detallado en los estados financieros de las diecisiete empresas agrícolas más
grandes y activas durante los tres años, 2016-2018.
Al establecer la estructura de capital genera una mezcla específica de deuda a largo
plazo y de capital que la empresa utiliza para financiar sus operaciones, es decir es una de las áreas más complejas de la toma de decisiones financieras debido a su
interrelación con otras variables de decisión financiera. También las malas decisiones
sobre la estructura de capital generan un costo de capital alto ocasionando riesgos en
las mismas. La elaboración de la investigación es a través de la metodología cualitativo
y su modalidad es bibliográfica, con un nivel descriptivo por la utilización de
indicadores esenciales que son útiles para el manejo de un modelo de regresión, así
también las conclusiones y recomendaciones.
Description
This research work is focused on knowing what is your own capital, debt capital and
its profitability in agricultural companies in zone 3. In the development of the study,
the determining factors that influence the Capital Structure were determined such as:
negative or positive profitability, long and short-term debt, assets, liquidity, costs,
sales, own capital, interest.
By means of the information gathered from the companies, their macro level is
referenced, meso y micro, taking into account a critical analysis through the problem
tree to identify causes and effects, thus giving the fulfillment of the objectives. In its
delimitations, its field and space are specifically designated according to the research.
Its legal foundation is based on the updated regulations of agricultural companies and
its research was obtained from secondary sources that rests on the web pages of the
control institutions: Superintendency of Companies, National Institute of Statistics and
Censuses; Its procedure and analysis is detailed in the financial statements of the
seventeen largest and most active agricultural companies during the three years, 2016-
2018.
When establishing the capital structure, it generates a specific mix of long-term debt
and capital that the company uses to finance its operations, that is, it is one of the most This research work is focused on knowing what is your own capital, debt capital and
its profitability in agricultural companies in zone 3. In the development of the study,
the determining factors that influence the Capital Structure were determined such as:
negative or positive profitability, long and short-term debt, assets, liquidity, costs,
sales, own capital, interest.
By means of the information gathered from the companies, their macro level is
referenced, meso y micro, taking into account a critical analysis through the problem
tree to identify causes and effects, thus giving the fulfillment of the objectives. In its
delimitations, its field and space are specifically designated according to the research.
Its legal foundation is based on the updated regulations of agricultural companies and
its research was obtained from secondary sources that rests on the web pages of the
control institutions: Superintendency of Companies, National Institute of Statistics and
Censuses; Its procedure and analysis is detailed in the financial statements of the
seventeen largest and most active agricultural companies during the three years, 2016-
2018.
When establishing the capital structure, it generates a specific mix of long-term debt
and capital that the company uses to finance its operations, that is, it is one of the most This research work is focused on knowing what is your own capital, debt capital and
its profitability in agricultural companies in zone 3. In the development of the study,
the determining factors that influence the Capital Structure were determined such as:
negative or positive profitability, long and short-term debt, assets, liquidity, costs,
sales, own capital, interest.
By means of the information gathered from the companies, their macro level is
referenced, meso y micro, taking into account a critical analysis through the problem
tree to identify causes and effects, thus giving the fulfillment of the objectives. In its
delimitations, its field and space are specifically designated according to the research.
Its legal foundation is based on the updated regulations of agricultural companies and
its research was obtained from secondary sources that rests on the web pages of the
control institutions: Superintendency of Companies, National Institute of Statistics and
Censuses; Its procedure and analysis is detailed in the financial statements of the
seventeen largest and most active agricultural companies during the three years, 2016-
2018.
When establishing the capital structure, it generates a specific mix of long-term debt
and capital that the company uses to finance its operations, that is, it is one of the most complex areas of financial decision-making due to its interrelation with other variables
of financial decision. Also, bad decisions about the capital structure generate a high
cost of capital causing risks in them. The development of the research is through the
qualitative methodology and its modality is bibliographic, with a descriptive level for
the use of essential indicators that are useful for the management of a regression model,
as well as the conclusions and recommendations.
Keywords
TASA DE INTERÉS, ESTRUCTURA DE CAPITAL, RENTABILIDAD, LIQUIDEZ