تأثير استراتيجية اختيار الهيكل التمويلي الأمثل على القيمة البورصية للمؤسسات العمومية : دراسة حالة المجمع الصناعي للأدوية-صيدال-، الجزائر (2003-2012)‎

Other Title(s)

The impact of the optimal financing structure choice strategy on the market value of the puplic firms : a case study of the industrial complex of medicaments ; Saidl, Algeria (2003-2012)‎

Joint Authors

دلفوف، سفيان
بودرامة، مصطفى

Source

المؤتمر العلمي الدولي الثامن استراتيجيات بيئة الأعمال المعاصرة : رؤى و أفكار متجددة 29-30 نيسان (أبريل) 2014.

Publisher

Philadelphia University Faculty of Administrative and Financial Sciences

Publication Date

2014-04-30

Country of Publication

Jordan

No. of Pages

33

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences

Topics

• Financing
• Case studies
• Algeria
• Fair value

English Abstract

The purpose of this study is to investigate the extent of optimal financial structure’’s impact on the firm market value in the public sector through the financing choice strategy.

Since the primary objective of the financial management of the firms is to maximize its value in the financial market.

Thus, before making any financial decision, we should know its effect on the value of the public value.

Is there an impact of the financing mix structure on the firm’’s market value? And if so, how does the optimal financing structure choice strategy affect the market value of SAIDAL? To achieve the purpose mentioned above, the Algerian industrial complex –SAIDAL– which is listed in Algiers stock exchange was selected, over the period 2003-2013, by using Pearson correlation model, the latter tests the relationship between the independent variable (D/CP) and the dependent variable (financial firm value).

In order to answer the above problematic about the affect of capital structure on firm’’s value (Debt or Equity), we purpose the hypotheses, which are a springboard for our research, namely: H1: There is an influence of optimal financing decision on public firm’’s market value; H2: The agency, trade-off, signal and pecking order theories affect the firm’’s financing behavior of SAIDAL; H3:There is a significant relationship between firm’’s financial structure decision as an independent variable and the market value of SAIDAL as the dependent variable.

Data Type

Conference Papers

Record ID

BIM-765222

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