Análisis del riesgo financiero en las Pymes – estudio de caso aplicado a la ciudad de Manizales
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Date
2014
Journal Title
Journal ISSN
Volume Title
Publisher
Corporación Universitaria Lasallista
Abstract
Introduction. The study and the measuring of financial risks is very important, especially for SMB´s,
which are more sensible to the market´s uncertainties. This is especially true if we keep in mind that the
models currently being used are, mainly, applicable
in companies that participate in the stock market. Objective. Make an integral analysis of financial risks,
based on liquidity, debts and accounts payable management risks for SMB´s. Materials and methods.
A study case was developed in a notrandom sample
selected from the Colombian Superintendencia de
Sociedades´ database. The indicators were calculated and the liquidity, debts and accounts payable
risks were determined in order to know the situation
for every company and sector. Then, based on the
results of those ratios, the risks were established under a probabilistic model and expressed in terms of
a “dummy” or a dichotomous variable, to validate,
by means of a logit regression, the consistency of
the model and the rejection or the acceptance of the
null hypothesis. Results. From the 100 companies
approached, 84 had financial risks. The subsector
with the highest affectation (89 %) was that of construction projects´ adequacy and the most frequent
risk was individual indebtedness. Conclusion. The
results of the logit model´s omnibus test allowed the
rejection of the null hypothesis, where the SMB´S
from Manizales are less than 50%.
Description
Keywords
Corporación Universitaria Lasallista, Pymes, Empresas - Colombia, Riesgo - Economía, Empresas - Dirección y administración, Deuda privada