Résumé:
This thesis aims to examine the effectiveness of employing financial analysis tools
and feasibility studies in rationalizing financing and investment decisions within
economic enterprises, amidst increasing financial complexities and growing risks
associated with the modern economic environment. To address the various aspects of
the subject, a descriptive-analytical approach was adopted by analyzing theoretical
concepts related to financial analysis, feasibility studies, and financing and
investment decisions. Additionally, the case study method was applied to two
production companies (ECDE and ENOF) to measure the actual impact of employing
these tools in practice.
The study reached a fundamental conclusion that regular and integrated reliance
on financial analysis tools and feasibility studies contributes significantly to the
rationalization of financing and investment decisions. This is achieved by improving
the accuracy of financial estimates, enhancing the ability to evaluate and select among
financing and investment alternatives, and reducing the degree of uncertainty and
risk. Furthermore, the results indicated that the poor efficiency of decisions in some
enterprises is mainly due to the superficial or incomplete use of these tools, or reliance
on traditional criteria in decision-making without basing it on in-depth financial
analysis.
