مكانة الضرائب في أمثليه الهيكلة المالية حسب موديقلياني و ميلر : اختبار تجريبي على عينة من المؤسسات الجزائرية

Abstract EN

Modigliani and Miller's theory is a very important philosophical trend in contemporary financial theory, since we published their theory in 1958, which proved that in the ence of taxes, there is no impact of financial structuring on the market value of the institution.

In 1963, Modigliani and Miller demonstrated an optimal financial structuring under the introduction of both taxes, and they also demonstrated that borrowing has a positive effect on financial structuring in the presence of taxes, due to the tax economy.

An empirical test was conducted on a sample of Algerian institutions, using the discriminatory analysis model.

the results showed the confirmation of Modigliani and Miller's theory.

It showed that taxes have a positive role in the direction of Algerian institutions towards long-term borrowing.