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L’endettement affecte-t-il la profitabilité? Le cas des firmes agro-alimentaires françaises
[Does debt affect profitability? The case of French agro-food firms]

  • Kebewar, Mazen

Cet article a pour objectif d’élargir le champ de la connaissance empirique sur l’impact de l’endettement sur la profitabilité des entreprises. Nous analysons un échantillon de 568 entreprises françaises non cotées, de secteur d’Agro-alimentaires, observées sur la période entre 1999 et 2006. Nous montrons, en utilisant la méthode des moments généralisée (GMM), que l’endettement affecte négativement sur la profitabilité, mais cet effet est faible et parfois non significatif selon le ratio de profitabilité utilisé (Prof1, Prof2 ou ROA). De plus, nous trouvons une relation non linéaire (une courbe concave) de l’impact de la dette sur la profitabilité, mais, cet impact non linéaire n’est significatif que dans les toutes petites entreprises (TPE).

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File URL: http://econstor.eu/bitstream/10419/73691/1/L%E2%80%99endettement%20affecte-t-il%20la%20profitabilit%C3%A9%20Le%20cas%20des%20firmes%20agro-alimentaires%20fran%C3%A7aises.pdf
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Paper provided by ZBW - German National Library of Economics in its series EconStor Preprints with number 73691.

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Date of creation: 2012
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Handle: RePEc:zbw:esprep:73691
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  1. Christopher F. Baum & Dorothea Schaefer & Oleksandr Talavera, 2007. "The Effects of Short-Term Liabilities on Profitability: The Case of Germany," Money Macro and Finance (MMF) Research Group Conference 2006 61, Money Macro and Finance Research Group.
  2. Kebewar, Mazen, 2012. "La structure du capital et la profitabilité : Une étude empirique sur données françaises en panel," EconStor Preprints 73559, ZBW - German National Library of Economics.
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