Augmentation De Capital En Numéraire, Risque De Dilution Et Ingénierie Financière_ étude Comparative.

This study aims to explain and analyze the impact of public savings offer made by corpora-tions in their ownership structure, their earning per share. Moreover, this study is interested by the relationship between ownership structure and the governance of corporations, their performance, their value and the modality by which change in ownership structure are con-trolled and directed, especially by use of financial engineering products and techniques. The results indicate that in France there is a corporate governance frame work, such as provide a complete frame work for to handle changes in the ownership structures of French companies in favor of national reference shareholders. But, in Algeria the 51%/49 % rule is considered as the only framework to control the ownership structure changes in Algerian companies.