The use of large language models (LLMs) for automated code generation has emerged as a significant focus within AI research. As these pretrained models continue to evolve, their ability to understand and generate complex code structures has opened new possibilities for automating intricate programming tasks for the sake of accurate code generation. Although contemporary foundational models demonstrate promoting results, researchers continue to explore optimal post-training strategies to enhance code quality. These include supervised fine-tuning, retrieval-augmented generation (RAG), debugging, and many others. In this paper, we combine two widely used approaches namely multi-agent collaboration and runtime execution information-based debugging, for improving code generation functionality, reliability, and practical applicability. We perform an empirical study in order to extend the evaluation of the individual strategies as well as the proposed composition of the activities of both strategies. Our study use 19 LLMs to examines the performance of individual and the proposed strategies, offering comprehensive insights into how different programming activities compositions and training paradigms influence code generation effectiveness. In particular, we implement a chained system that combines both strategies to assess their combined impact on functional accuracy, code reliability, and generation latency using two benchmark datasets commonly used for code generation. Our findings provide valuable insights for organizations seeking robust AI-driven coding solutions by guiding them in selecting models that can better adapt to complex post-training strategies, ultimately fostering the adoption of more effective and reliable code generation technologies.