A B S T R A C T

The purpose of the research - is to examine the influence of financial determinants - such as liquidity, debt structure, long-term financing, and firm size - on the commercial performance of companies, particularly measured through revenue turnover.

The methodology of the research - in order to analyze our case, we used panel data modeling for 58 companies over a period of five years from 2017 to 2021.

The practical importance of the research -  lies in the presentation of a practical model that can serve as a reference for the Algerian economy, as it is based on a significant sample and uses various variables that illustrate the case.

The results of the research - through our study, we found that financial determinants play a key role in determining the commercial performance of companies, and that they have a direct and positive impact on revenue turnover.

The originality and scientific novelty of the research - our study follows a multi­disciplinary approach, whereas most research often separates financial management (capital structure, access to credit, cash flow management...) from commercial performance (turnover, growth, market share...). We have attempted to connect the two concepts and present the relationship between them using an original econometric analysis based on panel data.

Keywords: financial determinants, commercial performance, businesses, panel data, return on assets, Algeria.

http://doi.org/10.59610/bbu3.2025.3.3