تأثير عوامل المحيط المالي على تكلفة التمويل : دراسة حالة شركات المساهمة الجزائرية (2010-2017)‎

Abstract EN

The study aims to identify the determinants of the cost for financing Algerian joint stock companies from 2010 to 2017.

It seeks also to see how compliance are the companies' financing policies with the theoretical principales of prioritizing funding to reach the established targets, the study has examined a sample of 15 joint stock companies to explore their financial structure.

The research used self-regression techniques on panel static data to test the study model, where the cost of financing was considered as a dependent variable, profitability, growth rate, tax rate and interest rate as independent variables.

The study has revealed most important results: Algerian companies based mainly on debt to finance their needs, and there is a positive statistically significant relationship between profitability, interest, and the cost of finance, whereas it exists a negative statistically significant relationship between the growth rate and the cost of finance.

JEL classification codes: G32