El mercado bursátil en Ecuador como fuente de financiamiento de las PYMES del sector comercial de Guayaquil

Abstract

The following research has as objective proving the benefits that the stock market offers to small and medium commercial enterprises of Guayaquil. A comparative analysis was made between the traditional method of financing which is the bank loan, and the issue offixed rent securities which is a non-traditional method of financing. For this research, as primary sources, interviews to experts were used to get specific information, and as secondary sources, historical data of stock market and bank loans were used to know statistical information. In addition, the stock market was described including its requirements, in which there is an alternative for common issues that is known as REB (Registro Especial Bursátil); besides, the requirements related to get a bank loan to SMEs were detailed. The conclusion of the research is that a long-term issue of securities has less financial costs in comparison with a bank loan.Additionally, in relation to comparative analysis, it was considered the payments periods of debt, interest payments and collaterals required.