أثر هيكل الاستدانة في تكاليف الوكالة : حالة الشركات المساهمة المدرجة في بورصة الجزائر للفترة 2010-2017

Abstract EN

The aims of this study is to explore the effect of debt structure on the agency costs of company, based on financial statements of five Algerian listed companies for the period 2010-2017, using the pooled regression.

The debt structure has been measured by the medium and long-term debt ratio, and short-term debt ratio.

The agency costs have been measured by the assets turnover ratio.

We also used the company size that measured by the natural logarithm of the total assets as a controller variable.

The study indicated that the two debt structure measures affected the agency costs in the studied companies, which provides new evidence that leverage represents effective mechanisms in reducing agency costs for companies