مجلة إدارة الأعمال والدراسات الاقتصادية
Volume 11, Numéro 2, Pages 105-128
2025-12-02
Analysis Of The Impact Of Fiscal Policy On Financial Performance: A Case Study Of Biopharm Foundation (2022-2024)
Authors : Kouini Chaoui . Boubdellah Abdelouahab .
Abstract
This research aims to study the impact of financial policy on the financial performance of Biopharm Company during the period (2022–2024) by clarifying the concept and dimensions of financial policy, highlighting its key variables and their relationship to financial performance indicators, and analyzing its practical application within the company. The results revealed that financial policy played a central role in improving liquidity, profitability, and financial flexibility. Moreover, the positive cash flows from operating activities helped cover investments and financing obligations. However, the study noted weaknesses in the credit policy regarding customer receivables collection, which negatively affected liquidity levels. It was also found that adopting a balanced financial policy enabled the company to face economic challenges and maintain stability. Based on these findings, the study recommends strengthening debt collection mechanisms, improving cash flow management, rationalizing expenses, and diversifying financing sources to support financial sustainability, reduce liquidity risks, and enhance resource utilization efficiency, thus supporting the company’s future growth
Keywords
Financial policy ; Financial performance
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