Impact of liquidity and business efficiency on the profitability of industrial companies of the superintendency of the stock market

Altamirano Mocarro I.M.; Delgado Rubio K.N.; Obregón Vara F.E.; Pintado Castillo C.A. · Proceedings of the LACCEI international Multi-conference for Engineering, Education and Technology (2025) · DOI: 10.18687/leird2025.1.1.328

Resumen

The research analyzed the impact of liquidity and business efficiency on the profitability of Peruvian industrial companies registered with the Superintendency of Securities Market (SMV) during the period 2014-2024. Liquidity indicators such as the liquidity ratio, acid test, and cash availability were evaluated, as well as efficiency indicators, mainly return on investment (ROI) and asset turnover, in relation to ROA and ROE as measures of profitability. The study adopted a quantitative approach, with a non-experimental, cross-sectional, causal, and retrospective design, based on secondary data from financial reports and official reports. The population corresponded to industrial companies registered with the SMV, and the sample included four companies selected for convenience with continuous financial information for the period. For the analysis, fixed and random effects panel data models were applied, validated using the Hausman test (p = 0.84), in addition to statistical robustness tests such as Shapiro-Wilk, Spearman, and VIF. The main results showed that liquidity and efficiency have a positive impact, albeit with a moderate correlation (ρ = 0.332; p = 0.032), while ROI showed an extremely strong and significant relationship with profitability (ρ = 0.960; p = 0.000). The fixed effects model explained 43.69% of the variability in profitability, confirming that efficiency is the decisive factor for financial performance in the Peruvian industrial sector. © LEIRD 2025.All rights reserved.

Instituciones: Universidad Tecnológica del Perú