Evaluación financiera de los créditos externos de la Unión Cementera Nacional Sociedad Anónima, a través del valor económico agregado y su incidencia en la rentabilidad periodo 2018-2020.

Abstract

The objective of this research work was to carry out a financial evaluation of the external credits of the Unión Cementera Nacional Sociedad Anónima through the added economic value and its impact on the profitability 2018-2020 period. As an instrument commonly used by organizations to achieve their objectives, it was important to evaluate and compare the benefits of incurring in an external or local leverage, therefore, the methodology applied was through a qualitative and quantitative analysis to collect information on the types and amounts of external credits that the company maintains, the audited financial statements, as well as the application of a direct interview to the Financial Department. In addition, a horizontal and vertical analysis was carried out to observe in parallel the evolution in the groups of accounts of the main financial statements, the evaluation of indicators, financial indices, DuPont and the Economic Value Added method, and to establish whether the entity is effectively generating added value to the owners of capital. For the statistical analysis, the correlation matrix was used and it was determined that there is not sufficient statistical evidence to conclude that there is a direct or automatic impact due to the use of foreign credits on profitability. However, as there is a moderately negative degree of correlation of -0.4956 amongst the study variables, it can be concluded that external financing in the medium and long term could impact on the profitability. It is recommended that the financial administration seek for investment alternatives that allow taking advantage of the resulting sprint between the rate of external credits and the rates of the local financial system.