Administración de Empresas-Pregrado

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    Comparación de la estructura de capital de las empresas pertenecientes al sector terciario que brindan mayor y menor aporte al PIB del Ecuador. Período 2017-2020
    (Universidad de Cuenca, 2022-12-12) Contreras Calderón, Jessica Estefanía; Zamora Zhagüi, Diana Cecilia; Naula Sigua, Freddy Benjamín
    The present work tries to determine the behavior of the capital structure of the tertiary sector, according to those that contribute more or less to the GDP. For them it uses a proven, a purge of companies. To determine the capital structure, there are basically two indicators, the indebtedness of assets and the indebtedness of equity. Through parametric and non-parametric tests, it was possible to determine that there is no difference in the behavior of companies at a general level of companies in the tertiary sector, considering year by year. However, if it is broken down into companies that contribute more and less, the evidence shows that the capital structure is not the same. Therefore, it can be mentioned that the capital structure of companies in the tertiary sector are constant in the short term but vary in the long term. In addition, a data panel was also produced, to determine what factors influence the capital structure of the companies in question. When the asset debt ratio is used as a dependent variable, the size of the company does matter, however, when the equity debt ratio is used, it ceases to have an influence. This paper mainly provides empirical evidence, which to a certain extent supports the foundations of existing capital structure theories.
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    Factibilidad financiera para la fusión por creación de las Cooperativas y Caja de Ahorro y Crédito filiales de la red de estructuras financieras locales alternativas (REFLA), año 2015
    (2015) Paucar Paucar, Angel Guillermo; Vidal Vidal, Paúl Marcelo; Rivera Ochoa, Blanca Catalina
    This research has as main objective to determine the financial feasibility of the merger by creation of credit unions Familia Austral Ltda., Huinara Ltda., Guachapala Ltda., Integral Ltda., Mushuk Yuyay Ltda., La Florida Ltda., Solidaria Ltda., Gϋel Ltda., Sol de los Andes Ltda. and the credit box Zhondeleg Ltda., which belong to the Network of Local Financial Structures Alternatives (REFLA). The merger idea was born from a proposal made by some entities which saw the need to form a new credit union stronger, more solvent and coverage that gives them the opportunity of augmenting its growth and consolidation at the market. For the development of this academic work a descriptive research and economic and financial information for the year 2014 was conducted. First, the sector of the economy in which these entities operate was studied and each entity individually analyzed. REFLA provided the access to primary information presented in this document. Once the information was collected, the tools of financial analysis that would be used for evaluation of feasibility were defined. Thus the vertical and horizontal analysis and financial indicators applicable to the analyzed case was used, although for some of these were not found reference values by limitations of official statistics. These tools allowed determining the financial position presented by entities expressed through strengths and weaknesses, identifying the strong and weak links in the merger process. Later the balances were consolidated and the financial position of the merged entity was analyzed, which shows an improvement in areas such as profitability and financial efficiency. In addition, other aspects have improved like solvency, liquidity and portfolio quality, although it’s still remain below the average of reference, therefore this constitute the priority areas of management of the merged entity. Finally, it was concluded that the merger for the creation of the credit unions and credit box is feasible.The main financial indicators show a improvement over individual performance, being as follows: Solvency: 8.88% Liquidity: 15.48%, Portfolio Delinquency: 21.75 % ROA: 0,19%, ROE: 2,1%, Productive Assets vs Liabilities with Cost Ratio: 0.85 times, Degree of Absorption: 1.06 times.