Abstract
In an economic environment where taxes are an essential source of government financing, the question arises as to how tax burdens reduce the ability of companies to generate sustainable economic value. Therefore, the objective of the investigation was to analyze the determinants of the capital structure through the ordinary least square model to determine the value creation of the manufacturing companies of Cotopaxi. For this, a methodological design with a quantitative approach was used, since financial statements were analyzed. As a study sample, 15 companies from the province that met the requirements to proceed with the prior analysis were chosen. When performing a correlational analysis, it was evidenced that they were contrasted against the EVA. The results showed that the size factor of the firm of the companies has a high level of significance. On the other hand, the profitability factor was the opposite, this corroborates that according to the EVA while one factor rises, the other must fall. Finally, it was concluded that it is important to consider that for future research the composition of the financial statements should be analyzed to establish what its structure is and how it is modified in times of economic crisis.
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