Variables financieras determinantes del fracaso empresarial para la pequeña y mediana empresa en Colombia: análisis bajo modelo Logit.

The principal objective of this article is to identify the financial variables that better explain the situation of business failure from the perspective of predictive Logit models in the small and medium enterprises in Colombia. Also, to verify the usefulness of the financial information provided by the type of companies that are analyzed. To achieve this end, accounting records were taken of all companies that are required to report to the Colombian Superintendent of Companies for the years 2005 to 2011. From these 40 financial ratios, five structural (independent variables) were calculated and categorical variables as its age, sector and size for different applied Logit models were added. [ABSTRACT FROM AUTHOR]