Corporate Governance Applied To The Public Sector In Algeria: The Experience Of Listed Companies

The corporate governance analysis field exceeded liberal economics to reach less developed countries especially public companies where the performance was overshadowed at the expense of other goals such as full employment, regional balance development… Today, these companies must reach performance goals, including financial performance that allows it to ensure its sustainability. This leads us to the study of governance and leader ship appointment methods, hence the term "management of management." Our problem is based on the following main question: how can we associate corporate governance and performance in the context of listed companies (public and private sector in Algeria). In this context, the contribution of "agency theory" to discipline the managers is still considerable In this context, the mode of appointment of officers for these companies is fundamental and decisive factor in the overall performance (financial, environmental and social) of the company. Thus the contribution of "agency theory" to discipline the leaders is still considerable. In the case of the public company, the state is the sole shareholder and officers are appointed by it. The performance remains a primary goal. The privately held company, despite modern management methods, presents mixed results, and even a deficit in some cases. In methodological terms, the approach method is interested in the first place to present the theoretical models of corporate governance, including the agency theory, and then adapt them to the economic and social situation of Algeria. We proceed, subsequently, to the collection of financial and accounting information and calculate some ratios: return on equity (RN/CP) and Return on assets (RN/ CP+debt investments). In conclusion, the results for the Algerian case has certain peculiarities and leaders of designation mode is not decisive in the overall performance of the company