Financial Decision Engineering: Impact of Capital Structure on Business Performance in the Peruvian Manufacturing Industry, 2015-2024

Gonzales Sánchez C.A.; Valdera Vásquez J.A.; Salazar Jessica Karina F. · Proceedings of the LACCEI international Multi-conference for Engineering, Education and Technology (2026) · DOI: 10.18687/laccei2026.1.1.927

Resumen

Capital structure represents a critical strategic decision that significantly influences corporate financial performance. This research evaluates the impact of capital structure on profitability of 21 Peruvian industrial companies supervised by the Securities Market Superintendency during 2015-2024, employing panel data regression analysis with fixed effects. The findings reveal a statistically significant non-linear relationship between leverage and profitability metrics (ROE, ROA, operating margin, net margin), evidencing that moderate debt levels optimize returns through tax shields, while excessive leverage increases financial risk and reduces operational efficiency.

Instituciones: Universidad Tecnológica del Perú