Capital de trabajo y restricciones financieras en las empresas manufactureras ecuatorianas, periodo 2014-2021

• Angel Alexander Higuerey Gómez ^[1] ; Reinaldo Armas Herrera ^[1] ; Ángel Ramón Sabando García ^[2] ; Mikel Ugando Peñate ^[2]
  1. [1] Universidad Técnica Particular de Loja

     Universidad Técnica Particular de Loja

     Loja, Ecuador

     
  2. [2] Pontificia Universidad Católica del Ecuador

     Pontificia Universidad Católica del Ecuador

     Quito, Ecuador

     
• Localización: RISTI: Revista Ibérica de Sistemas e Tecnologias de Informação, ISSN-e 1646-9895, Nº. Extra 60, 2023, págs. 384-396
• Idioma: español
• Enlaces
  • Texto completo (pdf)
• Dialnet Métricas: 1 Cita
• Resumen
  • español

    La administración del capital de trabajo en las organizaciones es un elemento esencial, cuando se busca una buena salud financiera. No obstante, esta se ve influenciada por las restricciones financieras a las que están sometidas. Este trabajo busca determinar si existe una relación entre la administración del capital de trabajo y las restricciones financieras. Para ello, se ha escogido como población las empresas manufactureras de Ecuador, con datos obtenidos de la SUPERCIAS para los años 2014-2021. Se utiliza para comprobar las hipótesis establecidas datos de panel aplicando regresión econométrica. Los resultados obtenidos muestran que no se puede rechazar la hipótesis la relación entre la administración de efectivo y cuentas por cobrar con las restricciones financieras en estas empresas.

  • English

    The administration of working capital in organizations is an essential element when looking for good financial health. However, this is influenced by the financial restrictions to which they are subject. This work seeks to determine if there is a relationship between the management of working capital and financial restrictions. For this, the manufacturing companies of Ecuador have been chosen as the population, with data obtained from SUPERCIAS for the years 2014-2021. Panel data is used to verify the established hypotheses by applying econometric regression. The results obtained show that the hypothesis of the relationship between the management of cash and accounts receivable with the financial restrictions in these companies cannot be rejected.

• Referencias bibliográficas
  • Ahmed, N., & Afza, T. (2019). Capital structure, competitive intensity and firm performance: evidence from Pakistan. Journal of Advances...
  • Altaf, N., & Ahmad, F. (2019). Working capital financing, firm performance and financial constraints: Empirical evidence from India. International...
  • Armas, R., & Higuerey, A. (2022). Impact of working capital on the profitability of companies in the tourism sector in Ecuador. In Advances...
  • Banerjee, P., Dutta, S., & Zhu, P. (2021). Multidimensionality of text-based financial constraints and working capital management. International...
  • Baños-Caballero, S., García-Teruel, P. J., & Martínez-Solano, P. (2014). Working capital management, corporate performance, and financial...
  • Chen, C., & Kieschnick, R. (2018). Bank credit and corporate working capital management. Journal of Corporate Finance, 48, 579-596.
  • De Veirman, E., & Levin, A. (2018). Cyclical changes in firm volatility. Journal of Money, Credit and Banking, 50(2-3), 317-349.
  • Dhole, S., Mishra, S., & Pal, A. M. (2019). Efficient working capital management, financial constraints and firm value: A text-based analysis....
  • Ding, S., Guariglia, A., & Knight, J. (2013). Investment and financing constraints in China: does working capital management make a difference?....
  • Fazzari, S. M., & Petersen, B. (1990). Investment smoothing with working capital: New evidence on the impact of financial constraints...
  • Fazzari, S. M., & Petersen, B. C. (1993). Working capital and fixed investment: new evidence on financing constraints. The RAND Journal...
  • Hadlock, C. J., & Pierce, J. R. (2010). New evidence on measuring financial constraints: Moving beyond the KZ index. The Review of Financial...
  • Higuerey Gómez, Á., Armas Herrera, R., & Chávez Alvear, N. (2019). El manejo del capital de trabajo y el financiamiento en el sector extractivo...
  • Laghari, F., & Chengang, Y. (2019). Investment in working capital and financial constraints: Empirical evidence on corporate performance....
  • Molina, C. A., & Preve, L. A. (2009). Trade receivables policy of distressed firms and its effect on the costs of financial distress....
  • Nicolas, T. (2022). Short-term financial constraints and SMEs’ investment decision: evidence from the working capital channel. Small Business...
  • Whited, T.M., & Wu, G. (2006). Financial constraints risk. Review of Financial Studies, 19(2), 531-559.