Relación del apalancamiento y rentabilidad: Caso empresas industriales

Abstract

The purpose of this study was to determine the degree of relationship between leverage and profitability, in companies in the industrial sector listed on the Lima Stock Exchange (BVL), from 2016-2018. The type of study was quantitative, correlational design, and not experimental. The data obtained were from the annual financial statements of 36 BVL companies, to determine the profitability indicators. No was found significant relationship between financial leverage and profitability indicators. On the other hand, a low and inverse relationship was found; but significant between operating leverage with financial profitability (r = -.366, p <.01) and economic profitability (r = -.358, p <0.01). Leverage combined with financial profitability and economic profitability obtained a moderate and inverse significant relationship, these being -.430 and -.411, respectively with a value of p <0.01. Financial leverage related to profitability was not significant and it was determinated that there consider influential reasons for their performance within the financial structure of these entities. On the other hand, operating and combined leverage obtained a significant indirect relationship so that the operations and processes of these companies did not provide the expected profit return or there was a low sales volume.