Estrategias financieras para el éxito competitivo en la pyme comercial canaria

Abstract

The most recent Literature on the explanatory factors of the competitiveness, emphasizes the importance of the internal factors of the companies, beyond the conditions of the surroundings in which the same ones develop, as foundation of its strategy and therefore bases of the competitive success (approach of the Theory of the Resources). However, the requirements demanded to these factors to acquire the character of strategists (heterogeneity, difficult identification, reproduction and substitution, etc.), have supposed an ample consensus on the difficulty to construct sustainable competitive advantages by means of the aid of resources and capacities of financial origin. Nevertheless the results obtained in this study, from a sample of 232 companies pertaining to the sector retail trade of the province of S/C of Tenerife during period 1994-96, suggest the existence of a financial management differentiated between the competitive companies and the noncompetitive ones, besides to identify the financial leverage, the volume of investment and the rotation of the circulating one like sustainable competitive advantages for this economic activity.