Estrés financiero en el sector manufacturero de Ecuador

This article classifies Ecuadorian manufacturing companies into companies with and without financial distress. To the effect, the meaning of financial distress (FD) is clarified, as well as the criteria under which a company would be classified as a company with or without FD. Additionally, the study applies two models that are widely used in the middle: multiple discriminant analysis and logistic regression, based on the previous works of Altman and Ohlson, respectively. The research has focused on companies in the Ecuadorian manufacturing sector during the period 2014-2018. As one of the main results, the study found that the signs of the coefficients of the estimated models differ in some cases with respect to those of the original Altman and Ohlson models. Despite this, the precision rates of the present study are higher than those of the original models in both cases. Finally, it was found that microenterprises are the most distressed in a financial sense.