LA GENERACIÓN DE VALOR PARA LOS ACCIONISTAS DE LAS MIPYMES DE LA PROVINCIA DE EL ORO

Abstract

The generation of value on an investment made is the main expectation of every shareholder, which implies that the income generated in the business activities are able to cover the costs and satisfy the performance expected by the investor or owner of the capital. At present, it is common for entrepreneurs to associate value generation with accounting profit alone, ignoring management indicators that allow the full evaluation of projects, considering future transactions. Motivated by this, the present investigation was directed to the Micro, Small and Medium Enterprises (MIPYMES) of the province of El Oro. Through the methodology of the EVA and financial indicators the analysis of 272 companies was carried out, With the application of a survey to the financiers and / or accountants of the sector. The results have allowed us to determine that, despite the fact that most of the companies reflect positive economic results based on the earnings of the study period, no generation of value is established for the shareholders of the MIPYMES of the Province of El Oro, for lack of knowledge about the methodology applied for its measurement.