Resumo
Num ambiente económico em que os impostos são uma fonte essencial de financiamento do governo, coloca-se a questão de saber como os encargos fiscais reduzem a capacidade das empresas de gerar valor económico sustentável. Por conseguinte, o objetivo da investigação foi analisar os determinantes da estrutura de capital através do modelo dos mínimos quadrados ordinários para determinar a criação de valor das empresas transformadoras de Cotopaxi. Para o efeito, utilizou-se um desenho metodológico com uma abordagem quantitativa, uma vez que foram analisadas demonstrações financeiras. Como amostra de estudo, foram seleccionadas 15 empresas da província que cumpriam os requisitos para proceder à análise anterior. Quando se efectuou uma análise correlacional, tornou-se evidente o seu contraste com o EVA. Os resultados mostraram um elevado nível de significância do fator dimensão das empresas. Por outro lado, o fator rendibilidade foi o oposto, o que corrobora que à medida que um indicador aumenta, o outro diminui. Concluiu-se que é importante considerar que pesquisas futuras devem analisar a composição das demonstrações financeiras para estabelecer a sua estrutura e como ela se altera em tempos de crise económica.
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