Rentabilidad de empresas constructoras en Chile ¿Cómo afecta el capital de trabajo y su apalancamiento financiero?
DOI:
https://doi.org/10.22320/hem.v23i1.6621Palabras clave:
Capital de Trabajo, Rentabilidad, Margen Bruto, Empresas ConstructorasResumen
El presente trabajo de investigación se centró en modelar el desempeño financiero de empresas constructoras chilenas mediante regresiones lineales de efectos fijos y mixtos, utilizando el margen bruto trimestral como indicador de rentabilidad. Entre los modelos evaluados, se determinó que el modelo de efectos mixtos con efectos aleatorios por empresa mostró el mejor ajuste al conjunto de datos, con un coeficiente de determinación estimado (R2) de 0,92, siendo significativos variables como el CT, el CT cuadrático y la tasa de endeudamiento a corto plazo. La combinación de efectos del CT cuadrático y no cuadrático indicó que el impacto positivo del CT en el margen se hace evidente a partir de una tasa del 42% sobre los activos totales.
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