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La Gestión del Capital de Trabajo y su efecto en la Rentabilidad de las Empresas Constructoras del Ecuador

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  • María del Cisne Cuenca
  • Dolores Rojas
  • Diego Fernando Cueva
  • Reinaldo Armas Herrera

Abstract

This research focuses to determine the effect of the working capital management on the construction companies of Ecuador profitability (ROA), specifically CIIU-F41 construction of buildingssector during 2012-2016period. The sample is constituted with financial information this is organized as panel data of 312 Ecuadorian construction companies; a descriptive, data correlation analysis and fixed effects econometric model was applied.The results determined that the period of inventory rotation (PRI), average collection period (PMC), averagepayment period (PMP), acid test (PA) and asset indebtedness (LEV) has a significant negative relationship with the ROA.It’s indisputable that working capital management is an integral part of the financial management of the construction companies studied, therefore, the continuity of the daily operations of this type of companies depends on how efficiently and effectively their short term assets and liabilities are managed and for this it’s recommended that companies wishing to improve their profitabilityshould pay special attention to working capital.

Suggested Citation

  • María del Cisne Cuenca & Dolores Rojas & Diego Fernando Cueva & Reinaldo Armas Herrera, 2018. "La Gestión del Capital de Trabajo y su efecto en la Rentabilidad de las Empresas Constructoras del Ecuador," X-pedientes_Economicos, X-pedientes Económicos, vol. 2(3), pages 28-45.
    • Handle: RePEc:xpe:journl:v:2:y:2018:i:3:p:28-45
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