Studying the ability of institutional characteristics to interpret financial performance using the traditional and modern financial indicators of Algerian cement enterprises

Abstract

This study aims at identifying the ability of institutional characteristics to interpret financial performance using traditional and modern financial indicators of the most important national industrial institutions represented by the (12) cement enterprises of the (GICA) during the period (2011-2016). The empirical results for the impact of institutional characteristics have shown that the characteristics of (R4, R5, R10 and R11) explain 82% of changes in( ROA), While the institutional characteristics of the management accounts indicators (R1, R1, R3, R3) explain the 98.6% of the changes in the return on equity (ROE) . As the results of the tests proved, there is no statistically significant impact on institutional characteristics on the recent financial performance indicators