الريادة لاقتصاديات الأعمال
Volume 7, Numéro 1, Pages 185-198
2021-01-10
The Impact Of Capital Structure On The Performance Of Algerian Companies: Econometric Study On Industrial Companies During The Period (2013-2018)
Authors : Bousbaa Hana .
Abstract
This study aimed to investigate the relationship between capital structure and firm’s financial performance. For this purpose, a sample of (72) Algerian firms over the time span of 2013-2018 was chosen for this study. The study used multiple regression, panel data method as a technique to examine the relationship between financial performance; the dependent variable, measured as the return on asset (ROA), and the following independent variables; long-term debt ratio (LTDR), short-term debt ratio (STDR), financial leverage (FR), total debt ratio (TDR). The results showed significant relationship between return on asset (ROA) and capital structure measures as group. The results also showed that Algerian firms rely on short term debt to finance their activities.
Keywords
Capital Structure, Financial Performance, the Pecking Order theory, Panel Data.
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