Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation

Fabio Andrés Puerta-Guardo; Ana Susana Cantillo-Orozco; Alfredo Enrique Sanabria-Ospino; William Stive Fajardo-Moreno

doi:10.15446/dyna.v90n228.108626

Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation

Título traducido de la contribución: Efecto de la estructura financiera en el riesgo de liquidez de las PYMES de Cartagena como base de formulación de proyectos

Fabio Andrés Puerta-Guardo, Ana Susana Cantillo-Orozco, Alfredo Enrique Sanabria-Ospino, William Stive Fajardo-Moreno

Producción: Contribución a una revista › Artículo › revisión exhaustiva

2 Citas (Scopus)

Resumen

Se analiza el Riesgo de Liquidez en las Pequeñas y Medianas Empresas - PYMES de la Ciudad de Cartagena-Colombia, a partir de la determinación de su Estructura de Capital. Se analizaron las variables, riesgo de liquidez (dependiente) y estructura de capital (independiente), a partir de una investigación cuantitativa con enfoque correlacional. La hipótesis fue, H1: Existe una relación positiva entre la estructura de capital y el riesgo de liquidez. La población provino de la base de datos contable a 31 de diciembre de 2016 de la Superintendencia de Sociedades, con una muestra 260 empresas. Se concluye que cuanto mayor es el nivel de endeudamiento, mayor tiende a aumentar el riesgo de liquidez de la empresa, aceptándose así la hipótesis establecida en la investigación. Derivado del análisis presentado se ofrecen recomendaciones sobre la formulación de proyectos que pueden aportar al mejoramiento de las condiciones de liquidez de las empresas analizadas.

Título traducido de la contribución	Efecto de la estructura financiera en el riesgo de liquidez de las PYMES de Cartagena como base de formulación de proyectos
Idioma original	Inglés
Páginas (desde-hasta)	28-38
Número de páginas	11
Publicación	DYNA (Colombia)
Volumen	90
N.º	228
DOI	https://doi.org/10.15446/dyna.v90n228.108626
Estado	Publicada - sep. 2023
Publicado de forma externa	Sí

Palabras clave

riesgo de liquidez
estructura de capital
Pymes
indicadores de rotación
liquidez y apalancamiento
gestión de proyectos

ODS de las Naciones Unidas

Este resultado contribuye a los siguientes Objetivos de Desarrollo Sostenible

Acceder al documento

10.15446/dyna.v90n228.108626

Otros archivos y enlaces

Enlace a la publicación en Scopus

Citar esto

@article{d350aee4c50746529c0d4f73a5752674,

title = "Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation",

abstract = "The Liquidity Risk in Small and Medium Enterprises-SMEs in the City of Cartagena-Colombia is analyzed, based on the determination of their Capital Structure. The variables, liquidity risk (dependent) and capital structure (independent), were analyzed, based on a quantitative investigation with a correlational approach. The hypothesis was, H1: There is a positive relationship between the capital structure and liquidity risk. The population came from the accounting database as of December 31, 2016 of the Superintendencia de Sociedades, with a sample of 260 companies. It is concluded that the higher the level of indebtedness, the greater the liquidity risk of the company tends to increase, thus accepting the hypothesis established in the investigation. Derived from the analysis presented, recommendations are offered on the formulation of projects that can contribute to the improvement of the liquidity conditions of the companies analyzed.",

keywords = "capital structure, liquidity and leverage, liquidity risk, project management, SMEs, turnover indicators, riesgo de liquidez, estructura de capital, Pymes, indicadores de rotaci{\'o}n, liquidez y apalancamiento, gesti{\'o}n de proyectos",

author = "Puerta-Guardo, {Fabio Andr{\'e}s} and Cantillo-Orozco, {Ana Susana} and Sanabria-Ospino, {Alfredo Enrique} and Fajardo-Moreno, {William Stive}",

year = "2023",

month = sep,

doi = "10.15446/dyna.v90n228.108626",

language = "English",

volume = "90",

pages = "28--38",

journal = "DYNA (Colombia)",

issn = "0012-7353",

publisher = "Universidad Nacional de Colombia",

number = "228",

}

TY - JOUR

T1 - Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation

AU - Puerta-Guardo, Fabio Andrés

AU - Cantillo-Orozco, Ana Susana

AU - Sanabria-Ospino, Alfredo Enrique

AU - Fajardo-Moreno, William Stive

PY - 2023/9

Y1 - 2023/9

N2 - The Liquidity Risk in Small and Medium Enterprises-SMEs in the City of Cartagena-Colombia is analyzed, based on the determination of their Capital Structure. The variables, liquidity risk (dependent) and capital structure (independent), were analyzed, based on a quantitative investigation with a correlational approach. The hypothesis was, H1: There is a positive relationship between the capital structure and liquidity risk. The population came from the accounting database as of December 31, 2016 of the Superintendencia de Sociedades, with a sample of 260 companies. It is concluded that the higher the level of indebtedness, the greater the liquidity risk of the company tends to increase, thus accepting the hypothesis established in the investigation. Derived from the analysis presented, recommendations are offered on the formulation of projects that can contribute to the improvement of the liquidity conditions of the companies analyzed.

AB - The Liquidity Risk in Small and Medium Enterprises-SMEs in the City of Cartagena-Colombia is analyzed, based on the determination of their Capital Structure. The variables, liquidity risk (dependent) and capital structure (independent), were analyzed, based on a quantitative investigation with a correlational approach. The hypothesis was, H1: There is a positive relationship between the capital structure and liquidity risk. The population came from the accounting database as of December 31, 2016 of the Superintendencia de Sociedades, with a sample of 260 companies. It is concluded that the higher the level of indebtedness, the greater the liquidity risk of the company tends to increase, thus accepting the hypothesis established in the investigation. Derived from the analysis presented, recommendations are offered on the formulation of projects that can contribute to the improvement of the liquidity conditions of the companies analyzed.

KW - capital structure

KW - liquidity and leverage

KW - liquidity risk

KW - project management

KW - SMEs

KW - turnover indicators

KW - riesgo de liquidez

KW - estructura de capital

KW - Pymes

KW - indicadores de rotación

KW - liquidez y apalancamiento

KW - gestión de proyectos

UR - http://www.scopus.com/inward/record.url?scp=85171327674&partnerID=8YFLogxK

U2 - 10.15446/dyna.v90n228.108626

DO - 10.15446/dyna.v90n228.108626

M3 - Article

AN - SCOPUS:85171327674

SN - 0012-7353

VL - 90

SP - 28

EP - 38

JO - DYNA (Colombia)

JF - DYNA (Colombia)

IS - 228

ER -

Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation

Resumen

Palabras clave

ODS de las Naciones Unidas

Acceder al documento

Otros archivos y enlaces

Huella

Citar esto