Impacto del comportamiento del mercado de valores en las estrategias de financiamiento y decisiones estratégicas de empresas comerciales que negocian acciones liquidas en la Bolsa de Valores de Quito en el año 2023

Abstract

This academic article aims to establish the impact of stock market behavior on the financing strategies and strategic decisions of commercial companies that trade liquid shares on the Quito Stock Exchange during the year 2023. The study was conducted using a quantitative, documentary, and descriptive approach, based on data provided by the Superintendence of Companies, Securities, and Insurance (SCVS) and the Quito Stock Exchange (BVQ), including financial statements, financial indicators, and stock price quotations from the period under review. Corporación Favorita was selected as a representative case, given its status as the most stable and prominent company in this economic sector. The economic context of 2023, characterized by social, political, and financial instability, created a highly volatile environment that affected the Ecuadorian stock market. However, the analysis revealed that market behavior had a moderate but relevant impact on the financing strategies of financially sound companies such as Corporación Favorita, particularly in improving capital structure and maintaining stable share prices. Nonetheless, the correlation between liquidity indicators and profitability (ROE) was not statistically significant, suggesting that strategic decisions in these companies are more influenced by internal management factors than by market dynamics. In conclusion, while the stock market offers selective opportunities for financing and corporate positioning, its depth and alignment with strategic business decisions remain limited.