أثر الرافعة المالية علىالكفاءة التقنية للشركاتدراسة تطبيقية على عينة من الشركات الصناعية العاملة بمنطقة غرداية
Résumé: In this research we aim to study the impact of financial leverage on the firmstechnicalefficiency, by applying this research to on a sample of Industrial Firms Operating in Ghardaia including16 Firms during the period from 2010 to 2015.Data Envelopment Analysis Method (DEA) was used to measure technical efficiency. The value added was taken as an output, Fixedassets and operational costs used as two inputs.In addition, the use least squares method according to Pannel Data Models to study the impact of financial leverage measured bydebt ratio as a primary variable, firm size and growth rateas secondary variables on firmstechnicalefficiency.the most important study findings were: there is a different levels of technical efficiency of the firms under study;and there is a inverse relation between financial leverage and technical efficiency of firms, hence the increase in external financing leads to technical inefficiency,Therefore, it is better for the sample firms to turn to internal finance instead of external financing to improve their technical efficiency.There is a positive effect of size on the technical efficiency of the firms under study. and a negative impact of the growth rate on the technical efficiency of the firms studied.
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