Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation
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 c...
- Autores:
-
Puerta-Guardo, Fabio Andrés
Cantillo-Orozco, Ana Susana
Sanabria-Ospino, Alfredo Enrique
Fajardo-Moreno, William Stive
- Tipo de recurso:
- Fecha de publicación:
- 2023
- Institución:
- Universidad Tecnológica de Bolívar
- Repositorio:
- Repositorio Institucional UTB
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.utb.edu.co:20.500.12585/12556
- Acceso en línea:
- https://hdl.handle.net/20.500.12585/12556
https://doi.org/10.15446/dyna.v90n228.108626
- Palabra clave:
- Liquidity risk
Capital structure
SMEs
Turnover indicators
Liquidity and leverage
Project management
Riesgo de liquidez
Estructura de capital
Pymes
Indicadores de rotación
Liquidez y apalancamiento
Gestión de proyectos
LEMB
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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| dc.title.spa.fl_str_mv |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| dc.title.alternative.spa.fl_str_mv |
Efecto de la estructura financiera en el riesgo de liquidez de las PYMES de Cartagena como base de formulación de proyectos |
| title |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| spellingShingle |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation Liquidity risk Capital structure SMEs Turnover indicators Liquidity and leverage Project management Riesgo de liquidez Estructura de capital Pymes Indicadores de rotación Liquidez y apalancamiento Gestión de proyectos LEMB |
| title_short |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| title_full |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| title_fullStr |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| title_full_unstemmed |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| title_sort |
Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation |
| dc.creator.fl_str_mv |
Puerta-Guardo, Fabio Andrés Cantillo-Orozco, Ana Susana Sanabria-Ospino, Alfredo Enrique Fajardo-Moreno, William Stive |
| dc.contributor.author.none.fl_str_mv |
Puerta-Guardo, Fabio Andrés Cantillo-Orozco, Ana Susana Sanabria-Ospino, Alfredo Enrique Fajardo-Moreno, William Stive |
| dc.subject.keywords.spa.fl_str_mv |
Liquidity risk Capital structure SMEs Turnover indicators Liquidity and leverage Project management Riesgo de liquidez Estructura de capital Pymes Indicadores de rotación Liquidez y apalancamiento Gestión de proyectos |
| topic |
Liquidity risk Capital structure SMEs Turnover indicators Liquidity and leverage Project management Riesgo de liquidez Estructura de capital Pymes Indicadores de rotación Liquidez y apalancamiento Gestión de proyectos LEMB |
| dc.subject.armarc.none.fl_str_mv |
LEMB |
| description |
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. |
| publishDate |
2023 |
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2023-10-10T12:56:25Z |
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2023-10-10T12:56:25Z |
| dc.date.issued.none.fl_str_mv |
2023-06-09 |
| dc.date.submitted.none.fl_str_mv |
2023-10-10 |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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info:eu-repo/semantics/article |
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info:eu-repo/semantics/publishedVersion |
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http://purl.org/coar/resource_type/c_2df8fbb1 |
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publishedVersion |
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Puerta-Guardo,F.A., Cantillo-Orozco, A.S., Sanabria-Ospino, A.E. and Fajardo-Moreno, W.S., Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation. DYNA, 90(228), pp. 28-38, Special Project Management, September, 2023. |
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https://hdl.handle.net/20.500.12585/12556 |
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https://doi.org/10.15446/dyna.v90n228.108626 |
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Universidad Tecnológica de Bolívar |
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Repositorio Universidad Tecnológica de Bolívar |
| identifier_str_mv |
Puerta-Guardo,F.A., Cantillo-Orozco, A.S., Sanabria-Ospino, A.E. and Fajardo-Moreno, W.S., Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation. DYNA, 90(228), pp. 28-38, Special Project Management, September, 2023. Universidad Tecnológica de Bolívar Repositorio Universidad Tecnológica de Bolívar |
| url |
https://hdl.handle.net/20.500.12585/12556 https://doi.org/10.15446/dyna.v90n228.108626 |
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eng |
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eng |
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Attribution-NonCommercial-NoDerivatives 4.0 Internacional |
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11 páginas |
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application/pdf |
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Cartagena de Indias |
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Contaduría Pública |
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Revista DYNA |
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Universidad Tecnológica de Bolívar |
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Puerta-Guardo, Fabio Andrés04c60bec-89d0-4854-b340-cf1bb2fdbe71Cantillo-Orozco, Ana Susana48c37088-1215-42ee-bc92-17a268c8b97aSanabria-Ospino, Alfredo Enrique6347dbd7-cba1-40e2-b470-aa938b70cb64Fajardo-Moreno, William Stive1d499768-9d21-457e-9f94-c51c1aaf4cf22023-10-10T12:56:25Z2023-10-10T12:56:25Z2023-06-092023-10-10Puerta-Guardo,F.A., Cantillo-Orozco, A.S., Sanabria-Ospino, A.E. and Fajardo-Moreno, W.S., Effect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulation. DYNA, 90(228), pp. 28-38, Special Project Management, September, 2023.https://hdl.handle.net/20.500.12585/12556https://doi.org/10.15446/dyna.v90n228.108626Universidad Tecnológica de BolívarRepositorio Universidad Tecnológica de BolívarThe 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.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 analizadas11 páginasapplication/pdfenghttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessAttribution-NonCommercial-NoDerivatives 4.0 Internacionalhttp://purl.org/coar/access_right/c_abf2Revista DYNAEffect of the financial structure on the liquidity risk of SMEs in Cartagena as a base of project formulationEfecto de la estructura financiera en el riesgo de liquidez de las PYMES de Cartagena como base de formulación de proyectosinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/version/c_970fb48d4fbd8a85Liquidity riskCapital structureSMEsTurnover indicatorsLiquidity and leverageProject managementRiesgo de liquidezEstructura de capitalPymesIndicadores de rotaciónLiquidez y apalancamientoGestión de proyectosLEMBCartagena de IndiasContaduría PúblicaPúblico general[1] Confecámaras Red de Cámaras de Comercio, Nacimiento y supervivencia de las empresas en colombia, Cuaderno de Análisis Económico No. 11, 2016.[2] Manuelito, S. and Jiménez, L.F., América Latina: sistemas financieros y financiamiento de la inversión. Diagnósticos y propuestas, Revista de la CEPAL, 103, pp. 47-75, 2011.[3] Asociación Colombiana de las Micro, Pequeñas y Medianas Empresas - ACOPI, Encuesta de desempeño empresarial. 1er trimestre de 2018, 2018.[4] Asociación Nacional de Instituciones Financieras – ANIF, La gran encuesta Pyme. Lectura Nacional. Informe de resultados 2do semestre 2017, ISSN 1909-4175, 2017.[5] Cotei, C. and Farhat, J., Worldwide patterns in capital structure, in capital structure and corporate financing decisions: theory, evidence, and practice. John Wiley & Sons, Inc, New Jersey, USA, 2011, pp. 111-126. DOI: https://doi.org/10.1002/9781118266250.ch7[6] Toro-Díaz, J. and Palomo-Zurdo, R., Análisis del riesgo financiero en las PYMES – estudio de caso aplicado a la ciudad de Manizales, Revista Lasallista de Investigación, 11(2), pp. 78-88, 2014. DOI: https://doi.org/10.22507/rli.v11n2a9[7] Myers, S., and Rajan, R., The paradox of liquidity, The Quarterly Journal of Economics, 113(3), p. 733–771, 1998. 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