اثر حوكمة الشركات على الأداء المالي لشركات المساهمة (2015- العاملة في الجزائر خلال الفترة ( 2009

Résumé: The objective of this study is to examine the extent to which companies operating in Algeria are committed to the principles of corporate governance. To achieve this objective, a questionnaire consisting of six axes covering each axis has been designed for the principles of corporate governance adopted by the Organization for Economic Cooperation and Development. The second part of the econometric study was aimed at measuring the effect of corporate governance on the financial performance of shareholding companies operating in Algeria for the period 2009 to 2015 using aPanel regression model so as to determine the effect of the change in corporate governance (measured by each of the Board's characteristics, and Ownership structure), on the change in financial performance measured by the return on assets (ROA) and return on equity (ROE). The results of the diagnostic study showed that there is a commitment to an average and statistically significant level of corporate governance principles, while there is no compliance with the requirements of the principle of disclosure and transparency. The results of the econometric study showed that there was a significant positive effect of foreign ownership on ROA, a significant negative effect of the corporations ownership on the ROA, and a positive and significant effect of the ratio of foreign representation on the Board on the ROE. However, there is no effect of each of the size and independence of the Board and the ownership of the largest shareholder and government ownership on the financial performance of the company.

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