Evolution of the Ecuadorian Industrial Sector and its Reputation under the Merco Index

Irene Gisel Buele Nugra, Michelle Viviana Aucapiña Tigre, Alvaro Santiago Solano Gallegos

Research output: Contribution to journalArticle


Corporate reputation represents a company's performance, management, and behaviour to improve results and long-term soundness. This article analyzes the evolution of the financial performance of the Ecuadorian industrial sector through financial indicators and its corporate reputation and compares it with the ranking prepared by the Corporate Reputation Business Monitor (Merco). The methodology applied focuses on analysing Ecuadorian industrial companies rated as the most representative according to Merco, whose financial information is obtained from the financial statements provided by the Superintendence of Companies of Ecuador. The results show that the indicators with the highest correlation are those of liquidity, with the Acid Test ratio being the most directly related to Merco at 34%, followed by the Current Liquidity indicator at 24.82%. The indicators that show a less positive correlation with Merco are the Operating Return on Equity ratios of 3.56% and Financial Profitability of 2.26%. In conclusion, there is a direct positive relationship between the Merco index and the financial indicators of Ecuadorian industrial companies.
Translated title of the contributionEvolución del Sector Industrial Ecuatoriano y su Reputación bajo el Índice Merco
Original languageEnglish (US)
Pages (from-to)1-13
Number of pages13
JournalOpen Science Journal
Issue number9
StatePublished - 26 Mar 2024


  • Corporate reputation
  • Corporate reputation business monitor
  • Financial performance

CACES Knowledge Areas

  • 314A Administration


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