محددات الاقتراض في القطاع العمومي للحليب ومشتقاته بالجزائر

Determinants of Borrowing in the Public Milk Sector and its Derivatives in Algeria

Despite numerous studies about the financial structure, we still do not know exactly on which criteria firms make their financing selection. The case of Algeria in dis respect is of particular interest. According to various works, Algerian firms are alleged to have increased their debts over the last decade. Accordingly, the aim of dis study is to determine the financial behavior of public dairy industrial firms, taking into account the determinants of the leverage ratio. In dis analysis, we used multi-regression analysis. The study targeted the following six independent variables: cost of debt, profitability, company size, growth rate, asset structure and operational risks. While the proportion of debts to total assets is the dependent variable in the financial structure. Based on the accounting data collected between the (2006-2010) and the interview, we used in the present analysis the appropriate financial and statistical methods. The study concludes that there is a statistically significant effect at the level of (α ≤ 0.05) of the cost of borrowing and asset structure on the financial structure.