The problem has been identified in the poor development of industries. Which affects the economy, efficiency, effectiveness, continuous improvement and competitiveness of these industries.
In detail, high costs and minimum benefits have been determined; inadequate rationalization of resources and lack of favorable benefits; failure to meet goals and objectives; nor has it been determined that there are creativity and innovation programs that allow for qualitative and quantitative changes; Likewise, a deficient level of business industrial competitiveness has been determined. This problem also encompasses the lack of expansion of industries, that is, the generation of annexed establishments, and the diversification of products and services for its current and potential clients is deficient.
WHAT WAS THE MAIN PROBLEM QUESTION
How can financial tools facilitate the development of industries?
WHAT WAS THE PURPOSE OF YOUR INVESTIGATION
The purpose of this work is to contribute to the solution of the problem of the industries. This problem has been identified in the development of industries; through financial tools, expressed in financing, investment, profitability and risk decisions.
WHAT WAS THE GENERAL OBJECTIVE OF YOUR WORK
Determine how financial tools can facilitate the development of industries.
WHAT WAS THE SPACE LIMIT OF YOUR INVESTIGATION
This work was developed in industries. Specifically, the company SELVA, for the facilities in obtaining information.
WHAT WAS THE TEMPORARY LIMITATION OF WORK:
This research is current and future; even though information will be taken referentially from the years 2014 to 2015.
WHAT WAS THE SOCIAL DELIMITATION THAT YOU CONSIDERED AT WORK.
The investigation allowed establishing social relationships with partners, shareholders, managers, officers, collaborators, clients, suppliers and creditors of the industries.
WHAT WAS THE THEORETICAL LIMITATION OF WORK:
This research has dealt with the following theories:
- Financial toolsIndustrial development
WHAT WAS THE JUSTIFICATION OF THE STUDY
This work is justified because it will contribute to solving the problem of the development of industries; inasmuch as it will allow understanding all aspects of access to sources of financing; application in necessary investments, such as working capital and capital goods; also in reducing the risks and increasing the profitability of these companies.
WHAT WAS THE IMPORTANCE OF THE RELATED STUDY
The importance of research is given by allowing to translate the scientific research process, knowledge and professional experience in solving the problem of industries.
POINT OUT 5 THEORETICAL ASSUMPTIONS OF YOUR INVESTIGATION
In this work the following theoretical assumptions will be taken into account:
- Financial tools are known, understood and applied in the development of industries. Financing tools, if properly negotiated, facilitate the economy and efficiency of industries. Investment tools, as well as convenient, facilitate the effectiveness of industries. Profitability tools are known, understood and applied properly, they facilitate the continuous improvement of industries. Risk tools, as long as they are applied with an adequate weighting, facilitate the competitiveness of industries.
WHAT WAS THE GENERAL HYPOTHESIS THAT YOU CONSIDERED IN YOUR WORK
Financial tools facilitate the development of industries; through investment, financing, profitability and risk tools.
WHAT WAS THE POPULATION YOU HAVE CONSIDERED IN YOUR WORK
The research population consisted of 135 officials who use the financial tools of the industries.
WHAT WAS THE SAMPLE THAT HAS DEVELOPED.
The sample was made up of 100 executives from the Finance Area and those responsible for the risk management of the industries.
WHAT METHOD HAS BEEN APPLIED TO DEFINE THE SAMPLE
The probabilistic method was used to define the sample size.
WHICH FORMULA HAS BEEN APPLIED TO DETERMINE THE SAMPLE
The generally accepted formula has been applied for populations less than 100,000.
Where:
n It is the size of the sample to be taken into account for the field work. It is the variable that you want to determine.
P and q They represent the probability of the population to be included or not in the sample. According to the doctrine, when this probability is not known from statistical studies, it is assumed that p and q have a value of 0.5 each.
Z Represents the standard deviation units that in the normal curve define an error probability = 0.05, which is equivalent to a 95% confidence interval in the sample estimate, therefore the Z value = 1.96
N The total population. This case 135 people, considering only those who can provide valuable information for the investigation.
E E Represents the standard error of the estimate, according to the doctrine, it must be 9.99% or less. In this case, 5.00% has been taken.
Substituting:
n = (0.5 x 0.5 x (1.96) 2 x 135) / (((0.05) 2 x 134) + (0.5 x 0.5 x (1.96) 2))
n = 100
WHAT WAS THE DESIGN USED IN THE STUDIO
The design was the plan or strategy that was developed to obtain the information required in the investigation. The design to be applied will be non-experimental.
Non-experimental design is defined as research that was conducted without deliberately manipulating financial tools and the development of industries.
In this design the financial tools and the development of the industries were observed; as they occurred in their natural context, after which the conclusions of the case have been formulated.
WHAT ARE THE DATA COLLECTION TECHNIQUES
1) Surveys.- They were applied to the sample staff to obtain answers regarding financial tools and the development of industries.
2) Collection of information.- It was applied to collect information from books, texts, regulations and other sources of information related to financial tools and the development of industries.
3) A n to lysis documental.- was used to evaluate the relevance of the information to be considered for research related to financial tools and development of industries.
WHAT DATA COLLECTION INSTRUMENTS HAVE YOU CONSIDERED IN YOUR WORK
The data collection instruments used in the research were questionnaires, survey sheets and analysis guides.
1) Questionnaires. - These documents have contained closed questions about financial tools and the development of industries. The closed nature was due to the short time that respondents have to answer about the research. They have also contained a response box with the corresponding alternatives.
2) Bibliographic sheets.- They were used to take notes on books, texts, magazines, regulations and all the corresponding sources of information on financial tools and the development of industries.
3) Documentary analysis guides.- They were used as a roadmap to have the information that is really going to be considered in the research on financial tools and the development of industries.
WHAT DATA PROCESSING TECHNIQUES HAVE YOU CONSIDERED IN YOUR WORK
The following data processing techniques were applied:
1) Ordering and classification. - It was applied to treat the qualitative and quantitative information of the financial tools and the development of the industries; in an orderly way, in order to interpret it and make the most of it.
2) Manual registration.- It was applied to enter information from different sources on financial tools and the development of industries.
3) Computerized process with Excel.- It was applied to determine various useful mathematical and statistical calculations on financial tools and the development of industries.
4) Computerized process with SPSS.- It was applied to enter, process and analyze data and determine average, association and other indicators on financial tools and the development of industries.
The data processing was carried out to test the hypothesis and will consist of the following.
- Firstly, the number of people to be surveyed was defined: This data was 100. Secondly, the work margin of error parameter was established: 5%. Thirdly, the alternative hypothesis and the null hypothesis of the research were defined. Then the research instrument was applied, that is, the survey questionnaire, which has contained the questions about the variables and indicators of the research topic. After applying the instrument, the results of the survey were received. These results were entered into the SPSS software at the variable level. The system was designed to work with the information entered. In this regard, the system can provide information at the level of tables, graphs and other forms.In this way, the system has provided results at the level of statistical tables, correlation, regression, anova and coefficient.
WHICH DATA ANALYSIS TECHNIQUES HAVE YOU CONSIDERED IN YOUR INVESTIGATION.
The following analysis techniques were considered:
1) Documentary analysis. - This technique allowed to know, understand, analyze and interpret each one of the norms, magazines, texts, books, Internet articles and other documentary sources on financial tools and the development of industries.
2) Inquiry.- This technique facilitated the availability of qualitative and quantitative data of a certain level of reasonableness on financial tools and the development of industries.
3) Data reconciliation.- The data on financial tools and the development of the industries of some authors were reconciled with other sources, to be taken into account.
4) Tabulation of tables with amounts and percentages.- The quantitative information on financial tools and the development of industries has been presented in special tables with corresponding amounts and percentages.
5) Understanding graphics.- Graphics were used to present information on financial tools and the development of industries.
EXPLAIN THE FOLLOWING TABLE
T A B L A No. 1:
Financial tools are concretized through investment, financing, profitability and risk decisions in the industries.
| NR | A L TERNATIVES | C A N T | % |
| one | Strongly disagree | 10 | 10.00 |
| two | In disagreement | 00 | 0.00 |
| 3 | Neutral | 5 | 5.00 |
| 4 | Agree | 00 | 00.00 |
| 5 | Totally agree | 85 | 85.00 |
| TOTAL | 100 | 100 . 0 0 |
INTERPRETATION:
Source: Survey carried out
This result favors the developed research model; Because 85% of the respondents accept that financial tools are specified through investment, financing, profitability and risk decisions that are applicable to industries.
The financial tools generally known as financial decisions can be grouped into two broad categories: investment decisions and financing decisions. The first group deals with decisions about what financial resources will be necessary, while the second category relates to how to provide the required financial resources. More specifically, financial decisions in companies must be made on: investments in plant and equipment; investments in the money market or in the capital market; investment in working capital; search for financing by own capital or by foreign capital (debt); search for financing in the money market or in the capital market. Each of them involve even more specific aspects, such as:decisions on the level of cash on hand or on the level of inventories. It is necessary to study the different interrelations between these two great types of financial decisions. The way in which individuals make decisions in organizations and the quality of options they choose are mainly influenced by their perceptions, their beliefs and their values. Decision processes in organizations are very important because they generally affect all human processes within them. Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.It is necessary to study the different interrelations between these two great types of financial decisions. The way in which individuals make decisions in organizations and the quality of options they choose are mainly influenced by their perceptions, their beliefs and their values. Decision processes in organizations are very important because they generally affect all human processes within them. Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.It is necessary to study the different interrelations between these two great types of financial decisions. The way in which individuals make decisions in organizations and the quality of options they choose are mainly influenced by their perceptions, their beliefs and their values. Decision processes in organizations are very important because they generally affect all human processes within them. Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.The way in which individuals make decisions in organizations and the quality of options they choose are mainly influenced by their perceptions, their beliefs and their values. Decision processes in organizations are very important because they generally affect all human processes within them. Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.The way in which individuals make decisions in organizations and the quality of options they choose are mainly influenced by their perceptions, their beliefs and their values. Decision processes in organizations are very important because they generally affect all human processes within them. Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.Communication, motivation, leadership, conflict management, and more. Problems in individual decision making are mainly due to two causes: fear of decision making and thoughtless decision making.
WHAT DOES THE HYPOTHESIS CONTRACT OF YOUR WORK CONSIST OF?
The testing of the hypothesis is given taking into account two types of hypotheses, the alternative hypothesis and the null hypothesis.
Alternative Hypothesis:
H1: Financial tools facilitate the development of industries; using investment tools, financing tools, profitability tools and risk tools
Instead the null hypothesis is as follows:
H0: Financial tools do NOT facilitate the development of industries; using investment tools, financing tools, profitability tools and risk tools
WHAT ELEMENTS HAVE YOU CONSIDERED FOR THE CONTRACTING OF THE HYPOTHESIS OF YOUR WORK
The statistical hypothesis is an affirmation regarding the characteristics of the population. To test a hypothesis is to compare the researcher's predictions with the observed reality.
If within the margin of error that 5.00% has been accepted, there is a coincidence, the hypothesis is accepted and otherwise it is rejected. This is the fundamental criterion for testing.
This is a generally accepted criterion in all academic and scientific circles.
There are many methods to test hypotheses. Some with sophisticated formulas and others that use modern computer programs. All in one way or another explain how it is possible to confirm a hypothesis.
In this work, the SPSS software has been used for its versatility and understanding of the results obtained.
For the purposes of testing the hypothesis, it is necessary to have the data of the variables: Independent and dependent.
The independent variable is FINANCIAL TOOLS and the dependent variable is INDUSTRIAL DEVELOPMENT.
The results of the SPSS System are as follows:
EXPLAIN THE FOLLOWING STATISTICS TABLE.
| STATISTICS | FINANCIAL TOOLS | INDUSTRIAL DEVELOPMENT | |
| Shows | Valid | 100 | 100 |
| Lost | 000 | 000 | |
| Half | 85.16% | 85.92% | |
| Typical deviation. | 4.32% | 4.12% |
Source: Survey carried out
WHAT IS THE AVERAGE OR AVERAGE VALUE OF THE WORK VARIABLES
The mean or average value of the independent variable FINANCIAL TOOLS is 85.16%, while the mean or average of the dependent variable INDUSTRIAL DEVELOPMENT is 85.92%. This indicates a good average for both variables, being better for the dependent variable, which is the one that is sought to be solved, which supports the research model carried out.
WHAT IS THE TYPICAL DEVIATION OR STANDARD DEVIATION OF THE VARIABLES OF YOUR WORK.
The standard deviation measures the degree of deviation of the values in relation to the average value, in this case it is 4.32% for the independent variable FINANCIAL TOOLS and 4.12% for the dependent variable INDUSTRIAL DEVELOPMENT, which means that there is high concentration in the results obtained; being better said concentration in the dependent variable, which favors the proposed research model.
EXPLAIN THE CORRELATION TABLE BETWEEN THE VARIABLES:
| V A RIABLES OF THE
INVESTIGATION |
INDICATORS
STATISTICS |
FINANCIAL TOOLS | INDUSTRIAL DEVELOPMENT |
| FINANCIAL TOOLS | Correlation
from Spearman |
100% | 85 .40% |
| Sig. (Bilateral) | 4 .30% | ||
| Shows | 100 | 100 | |
| INDUSTRIAL DEVELOPMENT | Correlation
from Spearman |
85 .40% | 100% |
| Sig. (Bilateral) | 4 .30% | ||
| Shows | 100 | 100 |
Source: Survey carried out
In the present investigation, the correlation value is equal to 85.40%, which indicates a direct (positive) correlation, regular, therefore acceptable.
Based on the SPSS table, we have a value of significance (p), equal to 4.30%, which is less than the proposed margin of error of 5.00%, which, according to generally accepted statistical theory, allows us to reject the hypothesis. null and accept the alternative hypothesis, from the point of view of the correlation of the variables. Therefore, this means that the correlation obtained for the sample is significant and that said value is not due to chance, but to the logic and meaning of the research model formulated; all of which is consolidated with the regression table.
EXPLAIN THE REGRESSION MODEL OF THE INVESTIGATION:
| Model | R | R
square |
R squared corrected | Typ error of the estimate |
| one | 92.40% | 85.18% | 75.70% | 2.95% |
Source: Survey carried out.
A N Á L ISIS TABLE REGRESSION:
The Regression Model or Table also provides us with the Linear Determination Coefficient (R squared = 85.18%. According to the coefficient of determination obtained, the regression model explains that 85.18% of the total variation is due to the independent variable: FINANCIAL TOOLS and the rest is attributed to other factors, which is logical, since in addition to this instrument there are other elements that may affect the dependent variable INDUSTRIAL DEVELOPMENT.
EXPLAIN THE VARIANCE-ANOVA ANALYSIS TABLE:
| Model | Sum of
squares |
gl | Half
quadratic |
F | S.I.G. | |
| one | Regression | 74.431% | one | 74.431% | 8,542% | 4.22% |
| Residual | 43,569% | 5 | 8.714% | |||
| Total | 118,000% | 6 |
Source: Survey carried out
A N A L ISIS OF THE ANOVA TABLE:
Then we have the Value sig = 4.22%. Now comparing the margin of error of the
5.00% proposed and the significance value, p = 4.22%, we have that the latter is less. Therefore, according to the generally accepted statistical doctrine, it is specified in the rejection of the null hypothesis and in the acceptance of the researcher's hypothesis. What otherwise, also means that the model obtained from the considered sample is accepted.
|
EXPLAIN THE TABLE OF COEFFICIENTS:
| t íp. | ||||||
| one | INDUSTRIAL DEVELOPMENT | 43.80% | 17.55% | 2.50% | 4.18% | |
| FINANCIAL TOOLS | 55.10% | 18.90% | 79.40% | 2.92% | 4.25% |
Source: Survey carried out
The value of the Degree of significance obtained in the table, for the case of the dependent variable INDUSTRIAL DEVELOPMENT is 4.18%, then this value is less than the proposed margin of error of 5.00%, then it is concluded that at a significance level of 4.18 % rejects the null hypothesis and accepts the alternative hypothesis.
In the case of the Independent Variable FINANCIAL TOOLS, the value of p = 4.25%, as in the previous case, is also less than the margin of error of 5.00% proposed by the researcher; therefore it is concluded that at a proposed significance level of 4.25% the null hypothesis is rejected and the alternative hypothesis is accepted.
C OM IN T AND DISCUSSION OF RESULTS CONDUCTED
85% of the respondents accept that financial tools are specified through the investment, financing, profitability and risk decisions of the industries. This result is similar to the 87% presented, although in another spatial and temporal dimension, by Calderón Carpio, Raúl (2014) Thesis: Effective financial decisions for business efficiency ”. Presented to choose the Master's Degree in Finance at the Federico Villarreal National University. Both results are high and adequate and favor research, given that financial tools are the alternative solution to the problem of the development of industries.
The financial tools to consider are the investment, financing, profitability and risk tools.
Investment tools seek to achieve adequate working capital and capital goods so that industries can carry out their activities and processes.
Financing tools ensure that industries have internal and external sources of financing at reasonable costs and terms. Profitability tools seek industries to obtain the greatest benefits on sales, assets, net worth, liabilities; in such a way as to ensure the continuity of these entities.
The risk tools seek to reduce unsystematic and systematic risk in order to ensure the best levels of profitability. The greater the reduction in risks, the greater the profitability of the industries.
COMMENT ON EACH OF THE JOB CONCLUSIONS:
The conclusions are the following:
1) Financial tools may facilitate the development of industries; through the investment, financing, profitability and risk tools that facilitate the economy. efficiency, effectiveness, continuous improvement and competitiveness of these industries.
2) Investment tools may help in the development of industries; through the tools for the working capital and capital goods of the industries that these companies need to carry out their activities, as well as to obtain liquidity and profitability.
3) Financing tools may facilitate the development of industries; Through tools to obtain internal financial resources through the contribution of shareholders and obtain external financial resources from banks, finance companies, municipal savings banks and other entities at cost, terms and other favorable conditions.
4) Profitability tools may supply elements for the development of industries; through net profit on sales, on assets, on equity; also the net present value, internal rate of return and others.
5) Risk tools may facilitate the development of industries; through the weighting of market risk and tools against the company's own risk; in addition to specific tools against the administrative, financial, operational and accounting risk of these industries.
COMMENT EACH OF THE WORK RECOMMENDATIONS:
The recommendations are as follows:
1) It is recommended to bear in mind that financial tools facilitate the development of industries. Therefore, there must be ample information on investments, financing, profitability and risks of these industries, as well as the market.
2) It is recommended to keep in mind that investment tools help in the development of industries. Therefore, working capital, capital goods, the rate of return and others must be planned, organized, directed, coordinated and controlled adequately to have the best use of the tangible and intangible assets of the industries.
3) It is recommended to keep in mind that financing tools facilitate the development of industries. Therefore, you must have extensive information on the financial products that allow you to obtain the resources that industries need, such as rates, terms, insurance, commissions, administrative expenses and others.
4) It is recommended to take into account that profitability tools provide elements for the development of industries. Therefore, every effort should be made to make the most of the resources of the industries by working several shifts a day; streamlining the use of investments; generating efficiency in processes and procedures, etc.
5) It is recommended to keep in mind that risk tools facilitate the development of industries. Therefore, management must identify the risks of the industries to be able to face them promptly and reduce them as much as possible.
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