La creación de valor en las pequeñas y medianas empresas al modificar la estructura de capital e incorporar financiamiento de programas de apoyo gubernamental

Arianna Yanet Porcayo Albino; María Cristina Moreno Jacóme; Miguel Flores Ortega

doi:10.64040/q0hq0920

Vol. 2 No. 2 (2015), Artículos

Vol. 2 No. 2 (2015)

Value creation in small and medium enterprises to change the structure of capital incorporated and financing government support programs

Artículos

Published 2015-06-30

Arianna Yanet Porcayo Albino⁺⁻
María Cristina Moreno Jacóme⁺⁻
Miguel Flores Ortega⁺⁻

Arianna Yanet Porcayo Albino

Escuela Superior de Comercio y Administración

María Cristina Moreno Jacóme

Escuela Superior de Comercio y Administración

Miguel Flores Ortega

Escuela Superior de Economía

PDF (Spanish)

Keywords

Value creation
Modigliani and Miller theorems
Financial leverage
MIPyMES
Capital structure
Business Incubation Center Technology-based IPN

How to Cite

Porcayo Albino, A. Y., Moreno Jacóme, M. C., & Flores Ortega, M. (2015). Value creation in small and medium enterprises to change the structure of capital incorporated and financing government support programs. Pensamiento Crítico. Revista De Investigación Multidisciplinaria, 2(2), 42-67. https://doi.org/10.64040/q0hq0920

Abstract

This research analyzes the relationship between economic and financial concepts that explain the business development and value creation. It is assumed as an object of study for micro, small and medium enterprises (MSME) and the effect detonator having on economic growth and employment in this group of companies studied, studied value creation through financial leverage from the fundamentals of Modigliani and Miller. Empirical evidence was obtained from a sample of 32 companies that were selected for the program to support the economy secretariat support Business Incubation Center Technology Based IPN. The results show that with financial support an increase of approximately 30% to 60% of the value of companies is achieved, which is highly and it is confirmed that by leveraging the company increases its financial viability.

PDF (Spanish)

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