Análisis de los factores determinantes en el éxito de las emisiones fijas bursátiles de empresas en Guayaquil durante el periodo 2013-2023.

Abstract

The analysis of the determining factors in the success of fixed stock issues of companies in Guayaquil during the period 2013-2023 responds to the need to understand the variables that influence the viability and acceptance of these issues in the local securities market. The problem lies in the lack of clarity about the elements that guarantee the success of these issues, which can limit access to financing for companies and affect the financial stability of the market. To address this problem, a qualitative methodology was adopted that included in-depth interviews with financial experts, executives of issuing companies, and stock market analysts, complemented by the analysis of relevant documents and financial reports. The results revealed that the main success factors include the financial strength of the issuing company, investor confidence, transparency in the information provided, and favorable macroeconomic conditions. In addition, the reputation of the company and the adequate structuring of the issue, with clear and attractive terms for investors, were identified as crucial. Discussion of these findings suggests that, although external conditions such as economic stability play an important role, the ability of companies to build trust through transparency and efficient management is critical to emissions success. Thus, companies in Guayaquil that wish to issue bonds must focus on strengthening their credibility and ensuring that their issues are aligned with market expectations, to guarantee their acceptance and success in the stock market. This study provides a basis for future research and strategic decision-making in the field of fixed stock issues.