Determinants of Financial Performance: Evidence from Algerian Non-Listed Corporations
Determinants of Financial Performance: Evidence from Algerian Non-Listed Corporations

Summary/Abstract: This article offers valuable insights into the financial performance of non-listed Algerian corporations. Employing advanced econometric techniques, specifically System GMM, the study examines financial performance from 2013 to 2022. We defined the financial performance using three dependent variables (i.e., ROA, ROE, NPM) and the following independent variables: financial leverage, growth, size, age, liquidity, and tangible assets. The results reveal that financial performance is at a minimum influenced by three factors (size, liquidity, and growth). Additionally, financial leverage has an impact on both Return on Assets and Equity. Finally, tangible assets impact financial performance solely in terms of Return on Equity.

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