ANÁLISIS DE LAS ESTRUCTURAS DE CAPITAL EN EL ECUADORPÈSQUERO DE LA PROVINCIA DE SANTA ELENA

Abstract

The increase in productive capacity demands different sources of financing either in the short or long term, the financing with the bank has advantages and disadvantages, including the payment of interest that reduces the accounting utility and thus helps to pay less income tax. This research sought to analyse the different capital structures maintained by the companies of the province of Santa Elena, particularly those whose main activity is linked to the fishing sector, through the establishment of a population subject to study of 42 organizations dedicated to this activity, where the historical and analytical method was used in order to appreciate the financial statements of mentioned companies, more than having as the main source the database of the Superintendency of companies and the Internal Revenue Service, knowing that the work is of bibliographic order. Under the above, it was determined that the vast majority of fishing companies in Santa Elena have the traditional financing of commercial banking, this arises from the need to achieve the maximization of benefits in different kinds, however within the framework of study and once analyzed the different theories in the search for an optimal capital structure, there is still no evidence and it is difficult to understand how companies choose their financial structure, that is, there is no way to calculate the precise and particularly defined optimal capital structure, so companies try to operate in ranges close to what they estimate in the best. Finally, it is necessary to emphasize that companies that want to expand their productive capacity tend to borrow, but, the best option will always be the least cost to represent, a mission that is in charge of the members of the directives aimed at a business profitability, however, these decisions do not guarantee the success within the different organizations.