Evolución del valor económico agregado: Un análisis desde las industrias molineras del Ecuador

Mayra Bedoya-Jara; Darwin Aldás-Salazar; Ana Cordova-Pacheco; Kerly Ramos Rodríguez

doi:10.54753/rve.v13i1.2241

PDF (Español (España)) HTML (Español (España))

Published: Feb 7, 2025

DOI: https://doi.org/10.54753/rve.v13i1.2241

Keywords:

Capital, EVA, financial indicators, milling industry, value added

Mayra Bedoya-Jara

Universidad Técnica de Ambato, Ecuador

Darwin Aldás-Salazar

Universidad Técnica de Ambato, Ecuador

Ana Cordova-Pacheco

Universidad Técnica de Ambato, Ecuador

Kerly Ramos Rodríguez

Universidad Técnica de Ambato, Ecuador

Abstract

article analyzes the evolution of value creation in an industrial manufacturing sector, it is important to indicate that when a company creates value it has more opportunities to access funds for growth and investment. For such reason, the present research aims to analyze the factors incident in the evolution of the economic value added in the milling sector of Ecuador during the period 2016 - 2021. For this purpose, 11 companies dedicated to the production of wheat flour were investigated. The study used the financial statements of each of the companies in this sector available in the portal of the Superintendence of Companies, Securities and Insurance, a quantitative study of the elements involved in the calculation of EVA was carried out, where it is highlighted that the ANDEO is the one with the highest incidence on this indicator. Finally, it is evident that the milling companies are not generating added value in the period under study, which indicates that capital investments are not generating a return greater than their cost.

How to Cite

Bedoya-Jara, M., Aldás-Salazar, D., Cordova-Pacheco, A., & Ramos Rodríguez, K. (2025). Evolution of Economic Value Added: An Analysis from the Milling Industries of Ecuador. Revista Económica, 13(1), 66–74. https://doi.org/10.54753/rve.v13i1.2241

Issue

Vol. 13 No. 1 (2025): RVE vol 13 (January-June 2025)

Section

RESEARCH ARTICLES

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Esta obra está sujeta a la licencia Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional de Creative
Commons. Para ver una copia de esta licencia, visite http://creativecommons.org/licenses/by-nc-nd/4.0/.

References

Alvear, N. V. C., Herrera, R. A., & Higuerey, A. (2020). The determinants of EVA in ecuadorian media enterprises in the period 2015-2018. RISTI - Revista Iberica de Sistemas e Tecnologias de Informacao, 2020(E26).

Armendáriz, E. (2011). EVA: Administración y Gerencia.

Babatunde, A. A., & Evuebie, C. O. (2017). The Impact of Economic Value Added (EVA) on Stock Returns in Nigeria. Scholars Journal of Economics, Business and Management, 4(2)(2).

Backes, J. A. (2002). EVA® - Valor económico agregado. ConTexto - Contabilidade Em Texto, 2(3). https://seer.ufrgs.br/index.php/ConTexto/article/view/11599

Banco Central del Ecuador. (2020). Reporte de Coyuntura II. Reporte De Coyuntura Sector Agropecuario, 50.

Charisma, B., & Amir, E. (2020). Economic Value-Added Creation by Optimizing Capital Structure in Project Finance. International Journal of Applied Research in Management and Economics, 3(2). https://doi.org/10.33422/ijarme.v3i2.446

Choi, S. H., Cho, K.-M., & Yun, Y. K. (2018). An Evaluation of Economic Value Added(EVA) of Sporting Goods Industry : Focusing on Domestic Sports Apparel Manufacturing Industry. The Korean Journal of Physical Education, 57(1). https://doi.org/10.23949/kjpe.2018.01.57.1.16

Eni, Y. (2021). Systematic literature review for performance business evaluation and company finance with economic value added (Eva) Analysis. Journal of Management Information and Decision Sciences, 24(Special Issue 1), 01–08.

FAO. (2020). El estado mundial de la agricultura y la alimentación 2020. In El estado mundial de la agricultura y la alimentación 2020. https://doi.org/10.4060/cb1447es

García, O. (2003). Valoración de empresas, gerencia del valor y EVA. Oscar León Garc{’i}a Serna. https://books.google.com.ec/books?id=VfWrtgAACAAJ

Herrera, H. (2006). ¿Es el EVA, realmente, un indicador del valor económico agregado? AD-MINISTER Universidad EAFIT, No 9, 38–61.

Holguín, B., & Alvarado, A. (2017). Behavior of the production of wheat flour in Ecuador. Revista Observatorio de La Economía Latinoamericana, 1–16. http://www.eumed.net/cursecon/ecolat/ec/2017/produccion-harina-trigo.html

Juniarta, I. W., & Purbawangsa, I. B. A. (2020). The effect of financial performance on stock return at manufacturing company of Indonesia stock exchange. Russian Journal of Agricultural and Socio-Economic Sciences, 97(1). https://doi.org/10.18551/rjoas.2020-01.02

Kijewska, A. (2016). Causal Analysis of Determinants Influencing the Economic Value Added (EVA) - a Case of Polish Entity. Journal of Economics and Management, 26, 52–70. https://doi.org/10.22367/jem.2016.26.03

Muraleetharan, P. (2017). Impact of Economic Value Added (EVA) on financial performance. South Asian Journal of Marketing & Management Research, 7(9). https://doi.org/10.5958/2249-877x.2017.00070.4

Nagarajan, K. (2015). Economic value added (EVA): A perfomance measure of strategic finance. CLEAR International Journal of Research in Commerce & Management, 6(11).

Nugroho Mulyanto. (2018). The Effect of Economic Value Added (EVA), Market Value Added (MVA), Refined Economic Value Added (REVA) on Stock Prices and Returns Stock at Manufacturing Industries Who Listed on Indonesia Stock Exchange (BEI). Archives of Business Research, 6(12). https://doi.org/10.14738/abr.612.5843

Oliete, B. (2016). NOF: Definición, Significado y Cálculo. https://www.empresaactual.com/las-necesidades-operativas-de-fondos-2/

Rea Caldas, D. C., Paltín Chica, C. A., & Piedra Aguilera, M. A. (2020). Análisis financiero del sector automotriz, un estudio aplicado a las empresas pertenecientes a una ciudad intermedia de un país en vías de desarrollo. Escritos Contables y de Administración, 11(1), 48–66. https://doi.org/10.52292/j.eca.2020.1313

Safhira, S., & Darwis, D. (2022). Analisis Kinerja Laporan Keuangan Menggunakan Metode Economic Value Added Pada Perusahaan Go Public. Jurnal Ilmiah Sistem Informasi Akuntansi, 1(2). https://doi.org/10.33365/jimasia.v1i2.1441

Sánchez Juárez, I. L., & Moreno Brid, J. C. (2016). The challenge of economic growth in Mexico. Manufacturing industries and industrial policy. Revista Finanzas y Politica Economica, 8(2), 271–299. https://doi.org/10.14718/revfinanzpolitecon.2016.8.2.4

Shishany, A. Al, Al-Omush, A., & Guermat, C. (2020). The impact of economic value added (EVA) adoption on stock performance. Accounting, 6(5). https://doi.org/10.5267/j.ac.2020.6.015

Sura, J. S., Panchal, R., & Lather, A. (2023). Economic value-added (EVA) myths and realities: evidence from the Indian manufacturing sector. IIM Ranchi Journal of Management Studies, 2(1). https://doi.org/10.1108/irjms-03-2022-0037

Vergiú, Jorge; Bendezú, C. (2007). Los indicadores financieros y el Valor Económico Agregado (EVA) en la creación de valor. Industrial Data, 10(1), 42–47.

Article Sidebar

Main Article Content

Abstract

Article Details

References

Similar Articles