International Journal of Accounting, Finance, Auditing, Management and Economics 2021-12-31T09:50:28+00:00 Prof. Dr Zakaria EZ-ZARZARI Open Journal Systems <p>IJAFAME is a bi-monthly (one issue every two months) peer-reviewed scientific journal (Blind peer review), dedicated to research in finance, accounting, auditing, management and economics. Its objective is to promote research in economics and management while publishing original articles or articles adapted to a given context. It also provides a space for exchange between professionals and academics in order to find new research ideas and encourages theoretical and practical reflections developed according to different paradigms (positivist, constructivist, interpretativist, etc.).</p> <p>Paper's are published in english or frensh</p> From perceived organizational support to intention to stay: the effect of HR development practices 2021-11-27T14:12:10+00:00 Younes Lamsakhar Maha Mhimra Bouchra Esslimani <p>While there has been a significant amount of research on the issue of voluntary employee turnover, retention remains the Achilles heel of most public and private sector organizations. By focusing more on intention to leave, research is often positioned in a curative rather than preventive perspective and fails to pinpoint preventive factors of turnover. Hence, intention to stay was adopted in this research to assess the effectiveness of social policies adopted by commercial banks in Morocco. The research we report is part of a larger study incorporating three bundles of HR practices, namely development, motivation and empowerment. The purpose of this paper is to better maps the influence of developmental practices on perceived organizational support and intention to stay.&nbsp; For the purposes of this research, a sample of 802 usable responses was collected, and the results reveal the negative influence of career management, and the prominent mediating role that perceived organizational support plays.&nbsp; The results are compelling and provide practical recommendations for leaders and managers of the surveyed organizations. The limitations of the research are documented and help to pave the road for future research perspectives.</p> <p><strong>&nbsp;</strong></p> <p><strong>Classification JEL : </strong>J24, L53, M53, O25</p> <p><strong>Paper type&nbsp;: </strong>Empirical research</p> 2021-11-27T00:00:00+00:00 Copyright (c) 2021 Younes Lamsakhar, Maha Mhimra, Bouchra Esslimani Exploring banking compliance in the digital era, the case of Moroccan banks 2021-11-27T14:12:10+00:00 Rabie Mahssouni Mohamed Makhroute <p>Over the past ten years, banks around the world have paid more than $230 billion in financial penalties for compliance risks. As a result, banking institutions involved in money laundering and other compliance risks have invested large sums of money to remedy detected anomalies through action plans, programs and the recruitment of compliance experts to restore their reputation. Indeed, the implementation of a compliance mechanism is necessary to help ensure the security and reputation of banking institutions. In addition, changes in customer behaviour during the health crisis have created a number of challenges for the various compliance departments within the bank: (a) the increase in the number of AML, CFT and international sanctions alerts (b) the high market volatility due to the health crisis, which generated a large number of alerts related to market abuse, and (c) the exponential evolution of cyber-attacks, where the slightest loophole in the protection of personal data is exploited by fraudsters. The compliance risks generated by technological developments and rapidly changing customer behaviour has put the spotlight on the current banking compliance framework and the role of digitalisation. In order to explore the relationship between digitalisation and compliance, we conducted a qualitative study with the aim of proposing a conceptual model that describes this relationship. In this paper we have been able to demonstrate the underlying relationship that can arise between digitalisation and banking compliance. However, this study could have been complemented by research measuring the relationship between these two variables by adopting a quantitative approach.</p> <p><strong>JEL Classification : </strong>G18 Government Policy and Regulation</p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-27T00:00:00+00:00 Copyright (c) 2021 Rabie Mahssouni, Mohamed Makhroute Determinants of the adoption of digital public services by Moroccan citizens: Case of the « Tadamoncovid » application dedicated to Covid-19 2021-11-27T14:12:12+00:00 Ahmed Routabi Bouchra Bennani <p>Recently, the Moroccan government was forced to accelerate the generalization of the digitalization of administrative services in order to limit the physical exchange of documents likely to have a real risk factor of Covid-19 transmission, without appreciating the degree of acceptance of this transition towards the citizens. This is the first study on citizens' attitudes towards the adoption of e-government in the Casablanca-Settat Region of Morocco and thus provides insight into the factors affecting the adoption of e-government within an emerging country. The data were collected through a survey administered to 457 citizens residing in Casablanca the economic capital of Morocco, after they have tested and experienced different e-government platforms, in this case “Tadamoncovid” application to access direct financial support services for households involved in the informal economy, and then analysed using structural equation modeling. The results showed that the facilitating conditions for the use of e-government services, trust in e-government, trust in the internet, expectations regarding social practices in terms of technology, and risk perception are the main determinants of the intention to adopt e-government and consequently led to significantly predict the behavioural intention to adopt e-government by Moroccan citizens. The pratical implications of these findings are discussed.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>O3; O33; O38</p> <p><strong>Paper Type: </strong>Empirical research</p> 2021-11-27T00:00:00+00:00 Copyright (c) 2021 Ahmed Routabi, Bouchra Bennani The effect of Covid-19 on consumer behavioral responses to the use of online shopping: The case of mass retail in Morocco 2021-11-27T14:12:12+00:00 Kenza El Badia Amal Doulkaid Rachid Wahabi <p>The Covid-19 sanitary crisis has had serious repercussions on all sectors of activity throughout the world, including the retail sector. Consumers are trying to adapt to the current situation in order to reduce human contact and to respect the instructions issued by the World Health Organization in order to limit the spread of the virus. In this article, we plan to study the impact of Covid-19 on the consumer's behavior towards the use of electronic commerce in the case of large-scale distribution in Morocco, through a quantitative study completed by 728 respondents and which was carried out via a questionnaire.</p> <p>This work is based on a review of the literature which allowed us to identify two versions of a model which has a priori the qualities required to carry out this study, the technological acceptance model (TAM) put forward by Davis in 1989 and TAM3 proposed by Venkatesh and Bala (2008), this model is mainly used to study the adoption of new technologies by the individual From a theoretical point of view, our objective is to revisit these traditional models in order to propose a theoretical model adapted to our study which defines the levels of the relations likely to exist between the antecedents of ease of use, perceived usefulness and the actual behavior of the consumer.</p> <p>This study highlights the direct or indirect influence of the barrier measures put in place by the WHO and the particularities of the virus on the behavior of consumers facing the digitalization of the distribution channel of large and medium-sized stores. It underlines the interest for the managers in the modern distribution sector to take into consideration changes in personal factors such as the brakes and motivations of consumers towards e-commerce.</p> <p>&nbsp;</p> <p><strong>JEL Classification: </strong>M31, O33</p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-27T00:00:00+00:00 Copyright (c) 2021 Kenza El Badia, Amal Doulkaid, Rachid Wahabi Selection policies for young project leaders: Case of the ARIEJ program 2021-11-27T14:12:13+00:00 Kenza Bouarara Mohamed Haddad <p>Entrepreneurial support is a process that revolves mainly around the selection policy and the mediation policy or support in its narrowest sense. The literature specializing in the field has tried since its awakening to present the essentials of support by focusing rather on the mediation process and leaving the selection policy to the care of practitioners who have developed very diverse acts and logics. . In addition, selection strategies can be considered a strong link in any entrepreneurial support process. By virtue of their ability to identify the most suitable candidates, they participate in the establishment and implementation of this support according to the terms of reference issued by the funders. Between strict policies and others more flexible, each support program must be able to present a selection plan following well-defined stages. In our work, we will try to present the peculiarities of a selection policy as well as the different facets of its applicability by choosing as a framework for the program the Improvement of Income and Economic Inclusion of young people adopted by the Initiative. National Human Development. It is more particularly a question of developing a grid of indicators which will guide our selection policy by taking an experimental path, since the program is practically a novelty. Our problem lies in the choice of indicators which obey the aims of the program without condemning the applications which show a very low potential for success.</p> <p>&nbsp;</p> <p><strong>JEL </strong><strong>Classification: </strong>M10</p> <p><strong>Paper type: </strong>Empirical Research.<strong>&nbsp; </strong></p> 2021-11-27T00:00:00+00:00 Copyright (c) 2021 Kenza Bouarara, Mohamed Haddad Adoption and use of digital tools in tourist organizations: Case of the Agadir destination 2021-11-27T14:12:13+00:00 Youssef El Archi Brahim Benbba <p>Digital tools are now recognized as techniques providing immediate and competitive advantages for companies, and those who integrate and make good use of them, can benefit from a flexibility and a capacity that can allow them to adapt on their market, improve their performance and ensure their competitiveness. The adoption and use of these new technologies by companies allows them to facilitate complex tasks, such as a visibility on the internet, information research, marketing of products and services, customer loyalty, etc.</p> <p>It is important to understand that the adoption and use of digital technologies like artificial intelligence and digital marketing involves systemic change in many sectors and aspects of human life, while the tourism sector has been among the first to massively integrate these digital techniques and tools, since their advent, and remain, of course, still those who use them the most today because of the nature of their activity and the behavior of their target customers.</p> <p>This paper will mobilize on the one hand, at the level of the literature review, theoretical and empirical work on the adoption and use of ICT (Rogers, 1983), in this case, digital technologies, digital marketing tool such as social networks, ECRM, etc. On the other hand to understand the determining factors of the adoption and use of digital technology and digital tools.</p> <p>In a holistic approach, paradigms and research objectives have led us to a mixed approach, the methodology of research provides for a documentary analysis, a statistical analytical support, a field analysis and a series of interviews to complete the available sources, it is based on a qualitative study among institutional actors and a quantitative study administered to hotels 4 and 5 stars.</p> <p>On the qualitative level, we conducted our study on the CRT of Souss-Massa to answer 10 questions through a semi-directive interview guide, on the quantitative level, it is a representative sample of 11 hotels based in the city of Agadir and Taghazout.</p> <p>To highlight the impact of the adoption of digital tools on the tourism and hospitality industry, the discussion and analysis of the results at the end of this communication show a behavior favorable to the adoption and use of digital strategy to market the Agadir destination and that this strategy is materialized by the use of different digital tools as well at the regional council of tourism as hoteliers, as for the national level, the difficulty of generalising this study is complex in order to be able to explore the behaviour of tourism and hotel stakeholders with regard to the adoption of information and communication technologies.</p> <p>&nbsp;</p> <p><strong>JEL Classification: </strong>M31</p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-27T00:07:26+00:00 Copyright (c) 2021 Youssef El Archi, Brahim Benbba Digital technology and the audit profession: What impact? 2021-11-27T14:12:14+00:00 Imane Ramdi <p>The purpose of this article is to take stock of the auditing profession in the age of digital technology and explain how it can improve the quality of the auditing profession. To this end, we have conducted a qualitative approach by interview guide with auditors from major audit firms (Big 4 and Mazars) and emerging audit firms in Morocco. Data analysis is performed through thematic analysis.</p> <p>Our research results show that digital technology through its Blockchain, Artificial Intelligence and Big Data Analytics models can improve the quality of the audit, while making it possible to evaluate the audit offer, to develop new services of audit firms and redefine the profile of auditors in the future. Thus, some predictions from this study concerning future audit practices include an increasing automation of audit procedures, time management that guarantees high added value tasks and an increasingly global perspective on audit activities.</p> <p>&nbsp;</p> <p><strong>JEL Classification</strong>: H83 , L24, O14</p> <p><strong>Paper type:</strong> Empirical Research</p> 2021-11-27T00:21:07+00:00 Copyright (c) 2021 Imane Ramdi Opinion leaders on Instagram and their role in the intention to purchase tourist stays: Proposal of a theoretical influence model 2021-11-27T14:12:15+00:00 Laaziza Oudrhiri Safiani Soumaya El Hassouni <p>With the advent of social media and the growth of Instagram in recent years, a new key figure has emerged the influencer. Due to his effectiveness and his ability to persuade, more and more companies are calling on these modern-day opinion leaders to shape their image, promote their products or even encourage customers to buy. Instagram is now the preferred platform for marketing teams, who attach a particular importance to this platform in their marketing mix. The choice of the influencers for these companies is crucial in the success of their marketing strategies. That is why marketing research is increasingly focusing on the attributes of influencers and the mechanisms they use to influence the decision-making process of their followers. This is about understanding the process by which consumers adopt the tourist trips recommended by influencers on Instagram. The objective of this article is to propose a conceptual model, based on the SOR (stimuli - organism - response) model, which aims to theoretically examine how the stimuli generated by influencers through their publications impact the purchase intention of the followers. Thus, the visual presentation of the content and its informative value are retained as powerful stimuli shaping the perception that followers have of the influencer. In addition, this model suggests considering the credibility of the influencer and the perceived homophily between the influencer and his audience as mediators in the influencer-follower relationship. This global and systemic model allows a better understanding of the phenomenon of influence in a sector hitherto little covered by the literature: tourism.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>M31, M37, L83</p> <p><strong>Paper Type: </strong>Theorical research</p> 2021-11-27T00:34:40+00:00 Copyright (c) 2021 Laaziza Oudrhiri Safiani, Soumaya El Hassouni Transition to IAS-IFRS and financial disclosure, content and determinants 2021-11-27T14:12:16+00:00 Mbarek Benddih Sidi mohamed Rigar <p>The gradual implementation of the new accounting framework commonly known as IAS-IFRS has imposed a communication effort on the companies concerned. The purpose of this presentation is to study the strategy of the voluntary publication of listed Moroccan groups following the voluntary option to publish accounting information in accordance with the IAS-IFRS international accounting framework as well as the determinants of this voluntary disclosure. To this end, we propose a model for constructing a disclosure score wholly aims to describe and quantify the published quantitative information. Then, by placing ourselves within the methodological framework of agency theory, information asymmetry, and positive accounting theory, we propose a theoretical model with the objective of studying the relationships between this voluntary disclosure index and the different determinants of financial communication relating to government and the internal characteristics of companies.</p> <p>&nbsp;</p> <p><strong>JEL Classification: </strong>M41</p> <p><strong>Paper Type: </strong>Theoretical Article</p> 2021-11-27T00:48:27+00:00 Copyright (c) 2021 Mbarek Benddih, Sidi mohamed Rigar Staff motivation factors in the public sector - case of public education professionals in morocco: Modeling test 2021-11-27T14:12:17+00:00 Mhand Atlagh Larbi Tamnine <p>In the era of new public management, the reform of the field of national education, in Morocco and elsewhere, is one of the concerns of successive governments over the past three decades.</p> <p>The success of any attempt at reform is conditioned by taking into account the expectations of women and men operating in the education sector. Teacher motivation is therefore the cornerstone of the performance of any education system.</p> <p>Since the twentieth century; Work motivation has been the subject of various studies which have developed behavioral theories intended to explain how it works and its consequences in work relationships. The growing interest in the topic of motivation at work is directly linked to the history of the evolution of companies in terms of the search for performance.</p> <p>In this regard, the motivation of professionals is an important factor to be aware of in order to develop sustainable actions, within the framework of strategic human resources management, particularly in the field of education and training.</p> <p>Noting that in the field of education, and mainly that of public education, there is still little work that has been interested in this theme, our study would aim to identify the determinants of the motivation of teachers in the public sector. The work of this research will draw inspiration mainly from Herzberg's bifactor theory (1966), but also from the work of Maslow (1954), Vroom (1964), McGregor (1973), McClelland (1971) and other authors, who sought, with their theories, to demonstrate that employee motivation is mainly intrinsic, that is to say linked to the own content of the work.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification : </strong>M12</p> <p><strong>Paper type&nbsp;:</strong> Theoretical research</p> 2021-11-27T10:40:03+00:00 Copyright (c) 2021 Mhand Atlagh, Larbi Tamnine Precarious employment: New behaviors of young Moroccans 2021-11-27T14:12:17+00:00 Nabil Bouzambou Said Tritah <p>Among the young population, those graduated from the university are less affected by job precarity insecurity (Hurtubise, 2012). Nonetheless, they remain immune regarding the new rules established in the job market. Currently, the changes observed in the new strategies adopted by the Moroccan labor market with relation to new types of recruitment, have a negative impact on the professional integration of young people, including the most educated.</p> <p>Indeed, some education streams produce many bachelors (undergraduates) (BAC + 3 or BAC + 4) and graduates (Master or equivalent) according to the Statistical yearbook of Morocco (2017), which lead them to uncertainty and ambiguity regarding their future professional careers. Moreover, given the flexibility of the labor market, significant university graduates are struggling to find job positions, the majority of which are classified as being precarious employment. During the last two decades, we observe that students who obtain their Baccalaureate diplomas tend to orient themselves more towards vocational trainings instead of university education, due to the fact that these vocational trainings represent booming sectors of the economy, such as for example, specialized technicians in technology fields, who have no difficulty to secure a job position.</p> <p>Thus, there are few available surveys on these issues encountered by young university graduates. However, starting from 2000s, the HCP (High Moroccan Authority on Planning) has begun to administer ongoing household employment surveys in both urban and rural areas. The extent of precarious employment among young Moroccans, including the most educated, remains difficult to measure and to identify, because the ENE (National Survey on Employment) questionnaire does not contain perception questions aimed specifically at youth, but targets the entire population of working age (15 to 65).</p> <p>&nbsp;</p> <p><strong>JEL Classification :</strong> I23, J11 et O15</p> <p><strong>Paper type&nbsp;: </strong>Theoretical Research</p> 2021-11-27T10:56:50+00:00 Copyright (c) 2021 Nabil Bouzambou, Said Tritah Customer relations and the boycott: proposal for a conceptual model for relational crisis management 2021-12-07T13:10:30+00:00 Soukaina Chahidi Boubker Nejjar <p>Boycott is a recurring social phenomenon that can affect any organization or company, it has adverse economic, social and relational effects, as it can run the risk of affecting the relationship between the customer and the company or the brand.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong>L19</p> <p><strong>Paper type: </strong>Theoretical Research</p> 2021-11-27T11:20:16+00:00 Copyright (c) 2021 Soukaina Chahidi, Boubker Nejjar New Public Management: a performance tool for public organizations 2021-12-15T10:59:43+00:00 Souad Bartiche El Houssaine Erraoui <p>Often described as inefficient and less profitable, public organizations have shown enormous dysfunction and deficiencies for years because of their organizational nature and the purpose of their institution (Charreaux, 2006). Therefore, improving their performance remains a major challenge for policy makers and development practitioners. In recent years, with the aim of improving governance and performance, many OECD countries have embarked on a process of modernizing their public management. Since then, the logic of action of the public sector has undergone considerable changes, moving from the old traditional paradigm of "public administration" or "Weberian" paradigm to a "new public management" or new public governance (Osborne, 2006). Along the same lines during the 2000s, administrative reform efforts gained momentum by the Moroccan government as a means of improving the performance of these public organizations. This paper provides an overview of the evolution of the NMP approach, the combination of drivers of change, and the potentials and challenges of its implementation. It focused on the current link between significant reforms and public sector performance. This proposed work aims to delimit the contours and areas where the practice of New Public Management constitutes a valuable support for performance development. The aim is to provide a theoretical reflection on the new public management, thus constituting an appropriate frame of reference for the establishment of a clear, realistic and achievable policy on the management of the public organization.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL classification: </strong>H11</p> <p><strong>Paper type: </strong>Theoretical Research</p> 2021-11-27T11:32:35+00:00 Copyright (c) 2021 Souad Bartiche, El Houssaine Erraoui linkages between exchange rate and economic growth in morocco: an econometric approach using simultaneous equations 2021-11-27T14:12:21+00:00 Kaboul EL Yamani Ahlam Qafas Mounir Jerry <p>The purpose of this paper is to examine the effect of exchange rate variations on morrocan economic growth and to determin the indirect channels of this influence. An econometric approche has been used to explore this relationship. Each equation in the system explains one of the selected endogenous variables, namely : GDP per capita growth; imports; exports; domestic investment and FDI. The last four variables represent the potential transmission channels of exchange rate variations on growth. The choice of the explanatory variables is the result of a consistent research and empirical investigation in order to determine the best model for each of the five equations of the system.</p> <p>The empirical findings using three stage least squares technique reveal that reel effective exchange rate has a significant negative effect on economic growth, provided that the institutional quality variable is introduced in the model. Thus, our results show that imports, exports and FDI are the channels through which exchange rate variations affect growth, where exchange rate appreciation has a negative impact on exports and FDI. Although it has a positive effect on imports. However, we found no evidence of a significant impact of exchange rate variations on domestic investment in Morocco.&nbsp;</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification&nbsp;:</strong> F31, F43, C3.</p> <p><strong>Paper type :</strong> Empirical research</p> 2021-11-27T12:04:34+00:00 Copyright (c) 2021 Kaboul EL Yamani, Ahlam Qafas, Mounir Jerry Basel accord IV: What contribution and impact for the financial and banking industry in the era of COVID-19? 2021-11-27T14:12:23+00:00 Sara Haloui <p>The main objective of this article is to highlight the new Basel Accord 4, whose implementation of his recommendations will be spread over a period of 11 years (2017-2028) as well as its challenges and prospects after three decades of implementation of Basel regulations (since 1988). The context of this research comes particularly after the occurrence of subprime financial crisis in 2007 and also the health crisis that occurred at the end of 2019 which put the four corners of the world in endless turmoil.</p> <p>In an uncertain and constantly changing environment, the purpose of enacting prudential rules is to strengthen the international banking system for all banks with significant international activity.</p> <p>Since the international financial system must be adapted imperatively to any fundamental change, the economic turmoil of the post-global crisis of 2007 led international regulators to impose new regulatory constraints known as the Basel Accord 4. However, the Covid-19 pandemic emerged at the end of 2019, which gave rise to a new regulatory timetable and which imposed new measures and new implications for banks.</p> <p>A few months before the start of implementation of this reform (initially planned for January 2022 and postponed until 2023 due to the health crisis), in this article we will focus on clarifying the changes made by this new Basel Accord by showing its contribution and impact on the financial system in view of the current international economic circumstances, particularly after the spread of Covid-19 which has impacted and disrupted the global economy. Nevertheless, the stakes are high for the banks, mainly because a global financial crisis could arise in the near future.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>G39</p> <p><strong>Paper type: </strong>Theoritical research</p> 2021-11-27T12:18:02+00:00 Copyright (c) 2021 Sara Haloui Role stressors, social support and burnout among university teachers: a theoretical exploration 2021-11-27T14:12:24+00:00 Mohammed Zaryouhi Ouail El Kharraz <p>Burnout research identifies highly exposed occupations such as the university teacher. A profession previously perceived as low-stressfull, has changed over the past 20 years. The high expectations of students, the reform of the university, the Information and Communication Technologies, and the increasingly globalized nature of research have completely transformed this profession. As a result, the university teacher finds himself at the intersection of pressures, increasing job demands and a lack of resources. However, theoretical models dealing with the impact of demands and resources on burnout tend to tackle these effects independently. Indeed, the relationship between demands, resources, and burnout is a major concern for organizations as well as for researchers and practitioners, even if its interest and issues are more recent for the university sector.By theoretically exploring the links that may exist between role stressors, social support, political skills and burnout.Our results indicate the sequence of relationships between variables. Thus, role stressors act as independent variables in our thoeritical model, social support and political competence are moderators, and burnout is the work outcome we seek to explain. This study provides a more holistic and integrated view of the relationship between job demands, job resources, personal resources and burnout. A future research direction are presented in conclusion.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>I23,M12,O15</p> <p><strong>Paper type: </strong>Theoretical Research<strong>&nbsp; </strong></p> 2021-11-27T12:34:01+00:00 Copyright (c) 2021 Mohammed Zaryouhi, Ouail El Kharraz Determinants of voluntary disclosure of financial information: literature review 2021-11-27T14:12:24+00:00 Didi Tajedine Ghita Derfoufi <p>The purpose of this work is to highlight the motivations or determinants that encourage companies to go beyond regulatory obligations by disclosing their financial information voluntarily. This issue will remain relevant as long as mandatory communication is restricted. Indeed, regulatory communication obliges companies to communicate a certain amount of information, except that this is often considered insufficient since the information communicated does not always reflect the real situation of the company with full transparency. Our article will present a comparison between different studies carried out on a multitude of samples of companies around the world, in order to have a more global vision between the different types of companies that have chosen to disclose more information as well as the various reasons behind this choice. By comparing the results of different studies, companies will be able to choose between moving towards voluntary disclosure, or simply communicating what is strictly necessary. Bankruptcy or financial distress may motivate executives to disclose more information in their annual reports, but not only, but the choice of corporate information dissemination strategy is also just as important. The comparison of the strong and weak points of the various studies moreover by accentuating on the circumstances in which information becomes voluntary, will allow a more obvious choice of communication strategy on the part of the leaders.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification&nbsp;: </strong>G 30</p> <p><strong>Paper type: </strong>Theoretical Research&nbsp;</p> <p><strong>&nbsp;</strong></p> 2021-11-27T12:46:04+00:00 Copyright (c) 2021 Didi Tajedine, Ghita Derfoufi The Mourabaha of participatory banking in Morocco: What intersection with traditional mortgage credit 2021-11-27T14:12:25+00:00 Mohamed Rouchdy Ahlam Qafas Mounir Jerry Abderrazak Rouchdy <p>Despite the application of participatory finance in Morocco in 2007, this exercise was modest and limited in the timid marketing of a few products by Dar Essafae, while the effective boom in Islamic finance in Morocco only started. in 2017 after the granting of Bank Almaghreb of its authorization to certain banks and banking windows to market the products named alternative, until today the Mourabaha is the product which dominated the transactions of the participative bank with approximately 80⁒ of all the transactions of Islamic finance in Morocco, through this paper we will conclude the main similarities and differences between the Murabaha and the mortgage loan of the conventional bank</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification:</strong> G510</p> <p><strong>Article type:</strong> Theoretical research</p> 2021-11-27T12:54:08+00:00 Copyright (c) 2021 Mohamed Rouchdy, Ahlam Qafas, Mounir Jerry, Rouchdy Abderrazak Industry 4.0 in The Economic Activity Zones in Morocco: Tangier-Tetouan-Alhoceima Region Case 2021-11-27T14:12:25+00:00 Asmaa Samadi Hicham Achelhi <p>The industry has gone through several revolutions and recently it has radically evolved following the integration of emerging digital technologies. Today, we speak of a fourth Industrial Revolution or the Industry of the Future. This digital transformation of companies involves organizational, technological and sometimes even cultural changes.</p> <p>The objective of this article is to analyze the behavior of companies located in the economic activity zones in the region Tangier-Tetouan-Al-Hoceima facing this Industrial Revolution, and to demonstrate the role of the implementation of Industry 4.0 in the performance of companies. In this article we will first present the concept of Industry 4. 0 as a whole through a literature review as well as the advantages and limitations of its application, the quantitative-qualitative methodology was preferred and it is based on the study of 64 cases of companies located in different areas of the Tangier-Tetouan-Al-Hoceima region of Morocco through the presentation of questionnaires in the first instance and then the realization of semi-directive interviews with the managers of companies.</p> <p>The results of our research reveal that only 25% of the companies questioned apply Industry 4.0. and finally we will present an analysis of the relevance of their choices and the main issues facing the Tangier-Tetouan Al-Hoceima Region for the implementation of this new system.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>L2, L16</p> <p><strong>Paper type: </strong>Empirical research,</p> 2021-11-27T13:15:14+00:00 Copyright (c) 2021 Asmaa Samadi, Hicham Achelhi The effects of the foundations of Corporate social responsibility on companies and the perception of stakeholders 2021-11-27T14:12:25+00:00 Hamza Mchich Kenza El Kadiri <p>Although social responsibility management (CSR) practices are widespread and common, the current consumer is the target of many corporate responsibility measures. The purpose of our article is to understand the perception that consumers have of corporate social responsibility in the world and in times of crisis. Thus, in order to better understand the relationship between CSR and the consumer, we conducted a qualitative study via interviews with ten interviewees belonging to three sectors of activity and occupying a hierarchical responsibility allowing them to answer our research questions with relevance.</p> <p>The results of this study offer the opportunity to reflect on new challenges related to marketing functions and to get involved in the current state of “stakeholder marketing theory”. Nevertheless, this result does not indicate that the customer is not important, but he is always at the center of marketing decisions.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification </strong>: M14</p> <p><strong>Paper type&nbsp;</strong>: Empirical Research&nbsp;</p> 2021-11-27T13:24:57+00:00 Copyright (c) 2021 Hamza Mchich, Kenza El Kadiri Adjustment of the Moroccan balance of payments to external shocks: The case of the Covid-19 coronavirus pandemic 2021-11-27T14:12:26+00:00 Abdelghani Talbi Aziz Bensbahou <p>One of the most challenging issues in economic policy for a long time has been the impact of external shocks on macroeconomic imbalances and the most appropriate adjustment measures to address them.</p> <p>Since the balance of payments is a document that reflects the external account position of a country in relation to the rest of the world, it is through this conventional document of a statistical and accounting nature that external shocks could manifest themselves. It informs government authorities about the state of the country's international economic relations, assesses its economic situation and helps in learning about monetary, fiscal, trade and exchange rate policy decisions.</p> <p>Declared a global pandemic on 11 March 2020 by the World Health Organization (WHO), the crisis has had a significant impact not only on health but also on the economy. In Morocco, as in all countries of the world, this economic-pandemic shock has had consequences on both internal and external financial balances, including the balance of payments.</p> <p>In order to contain the effects of the crisis on the economy, an arsenal of measures was adopted, in which the Moroccan authorities resorted to a battery of measures to curb the unprecedented crisis. In order to limit the consequences, the authorities have had to react on a set of fiscal, monetary and exchange rate policy instruments to remedy the situation.</p> <p>This article attempts to assess the impact of these measures (prevention, detection and recovery) on the adjustment of the Moroccan balance of payments, knowing that excessive and simultaneous recourse to these different instruments would have effects incompatible with the expected objectives in the medium and long term.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: E42, E60, F40</strong></p> <p><strong>Paper type: </strong>Theoretical Research</p> 2021-11-27T13:43:19+00:00 Copyright (c) 2021 Abdelghani Talbi, Aziz Bensbahou Public and dynamic action of cooperatives in Morocco 2021-12-01T11:48:23+00:00 Khalid Didi Hicham Attouch <p>In Morocco, the state public action has long been a lever for the promotion of cooperative entrepreneurship and the creation of conducive environment to the development of the Moroccan cooperative sector. As a result, several support and accompaniment measures have been taken by the public authorities to boost the dynamics of this sector. This research work consists of analyzing the impact of state public action on the dynamics of cooperatives in Morocco. Our methodology is based on the mapping of the various programs and sector strategies that have greatly contributed to the dynamics of the cooperative sector. The results of this analysis have enabled to demonstrate the importance of supporting the State in revitalizing cooperatives, by giving it not only demographic performance, but also an entrepreneurial and participatory dynamic in development. On the other hand, several shortcomings have been identified which negatively impact the performance of cooperatives, in particular: the lack of convergence between the various public programs and the limitations of the financial and technical resources dedicated to the proximity support of cooperatives.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification :</strong> J18, P13, L31, O15.</p> <p><strong>Paper type :</strong> Empirical research.</p> 2021-11-27T13:54:15+00:00 Copyright (c) 2021 Khalid Didi, Hicham Attouch The collection of household waste between optimization of public expenditure and additional costs 2021-11-27T14:12:27+00:00 Tarik Rezzouq <p>Making public services work, avoiding their interruption and ensuring that they are adapted to the changing needs of all citizens is a legitimate mission of the State, and one that requires the deployment of significant human, technical and financial resources. However, the inability of the State to mobilize these resources "forces" it to look for other management and financing alternatives, particularly from the private sector. In Morocco, recourse to this sector takes several forms, but the most widespread modality is the Delegated Management, which was introduced in the Kingdom in 1997. It is a contract through which the public entity delegates the mission of providing a public service to a private or public entity in return for periodic remuneration.</p> <p>This paper studies the effectiveness of this management method for the household waste collection service. The aim is to verify whether the use of Delegated Management favors the optimization of the public expenditure allocated to it, or on the contrary, whether it constitutes a source of uncontrollable additional cost. However, it should be noted that the results found are closely linked to the territory and the nature of the sector studied, which means that they must be constantly updated.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification</strong>: H72</p> <p><strong>Paper type</strong>: Empirical research</p> <p><em>&nbsp;</em></p> 2021-11-27T14:05:13+00:00 Copyright (c) 2021 Tarik Rezzouq Theoretical legitimacy and intellectual legitimacy: a duality source of ethical questions for scientific researchers 2021-11-28T23:58:33+00:00 Houda Bachisse <p>On the occasion of certain current events and sometimes under the contingency of immediacy, scientific researchers belonging to various institutions, disciplines, frames of reference, fields of research (economics, political science, philosophy, international relations, etc.), commit intellectually by commenting, analyzing, theorizing, and producing a critical discourse on public issues and issues. Knowing that the social space becomes not only the place of their observation and action, but also that of their reflection in action, it remains important to focus on this double identity of researchers who are both scientists and observers of the society. How do the latter manage to arbitrate between their scientific power established in the ethics of their function and their intellectual power which responds only to the demands of their conscience and their conviction? This text offers a theoretical reflection on the question of exploring some issues, both ethical and deontological, which may be associated with it. The article also explains how equipping reflexivity in any endeavor, not only matters with regard to the status to be accorded to scientific work, but also requires an analysis of the conditions of all intellectual production. It is this reflexivity that determines the future of science and its ability to provide tangible answers to various societal problems. It is established as a condition and a fundamental dimension for the development of genuine research ethics.</p> <p><strong>JEL Classification: </strong>A20</p> <p><strong>Paper type: </strong>Theoretical Research<strong>&nbsp; </strong></p> 2021-11-28T23:09:39+00:00 Copyright (c) 2021 Houda Bachisse Assessing the Impact of Human Capital on Economic Growth in Southern and Eastern Mediterranean Countries: Analysis of the Underlying Relationship in the Short and Long Term 2021-11-29T22:49:59+00:00 Abdelkader El Moutaoukil Abdeljalil Mazzaourou <p>The theory of economic growth continues to develop in order to provide answers to stylized facts sometimes marked by paradoxes. These paradoxes are linked to several research problems. In this article, we will try to take into account these problems, especially of a methodological nature to explain the economic growth of certain countries of the South and East of the Mediterranean (SEMC), in this case Morocco, Tunisia. , Jordan and Lebanon. To do this, we will first establish an indicator measuring the stock of human capital in each country making up our sample. Indeed, the indicator to be constructed by us will overcome the classic measures, which were based solely on education as the proxy of human capital. In this wake, we are going to make use of both the educational and health dimensions. At the modeling level, the application of the Mankiw, Romer and Weil (1992) model in our empirical context, using a VECM, reveals a certain number of observations regarding the contribution of human capital to creation wealth in the said countries of the study. In this sense, human capital is not related to the economic growth of SEMCs over the long term. Regarding the short-term relationship, the human capital factor has a negative impact, and sometimes makes no sense in the growth equation of the countries of the study, which calls into question the policies taken vis-à-vis the variables of interest. Moreover, the study shows that these countries optimize very slowly the resources for economic growth at their disposal, because the speed of adjustment towards the general equilibrium does not exceed 11% each year. In this study, we could have enlarged the sample to cover all the countries of the PSEM group. However, some of these countries have political problems, which would skew the analysis in question.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification&nbsp;: </strong>O47</p> <p><strong>Article type&nbsp;: </strong>Applied research.</p> 2021-11-29T22:48:28+00:00 Copyright (c) 2021 Abdelkader El Moutaoukil, Abdeljalil Mazzaourou Comparative analysis of the financial risk of ESG Stocks and conventional Stocks 2021-12-15T10:10:52+00:00 Adam Lahbous Rachid Zammar <p>This research paper aims to show which ESG and conventional stocks have the advantage of being less risky.This involves carrying out a systematic risk analysis and the specific risk of socially responsible stocks by comparing them with those of conventional (classic) stocks. The analysis concerns the stocks of 56 Moroccan companies listed on the Casablanca Stock Exchange (BVC) and the evolution of their values ​​during the period from 01/04/2010 to 01/31/2019. Two sets of stocks were chosen as independent samples to conduct this comparative analysis. A first sample consists of 10 stocks forming the "Casablanca ESG 10" stock market index, and the second sample contains 46 stocks also listed on the BVC.</p> <p>The tests of normality have shown that the total, systematic and specific risk distributions for the two types of ESG and conventional stocks do not all follow a normal distribution. This means that using the Student's t-test to compare the means of total, systematic and specific risks is not sufficient, so it is important to also use the non-parametric Mann-Whitney U test.</p> <p>Thus, the use of the two aforementioned tests made it possible to show that conventional equities and ESG equities effectively present the same levels of risk for both total risk and specific risk. On the other hand, the systematic risk was shown to be higher for ESG stocks than for conventional stocks.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong>C12, D81, G11, M14.</p> <p><strong>Paper type : </strong>Empirical research</p> 2021-11-29T22:56:36+00:00 Copyright (c) 2021 Adam Lahbous, Rachid Zammar Study of the impact of Public Debt on Moroccan Economic Growth: ARDL model 2021-11-29T23:06:12+00:00 Khalid Achibane <p>There are a number of theoretical arguments that lead to the conclusion that an increase in the public debt ratio could lead to a reduction in growth due to a crowding-out effect of productive investment and the relative inefficiency of the State in the use of its resources. However, no argument is really convincing because, as usual in economics, theory does not provide a definitive answer.</p> <p>The objective of this article is to study the impact of Morocco's total government debt on economic growth. We will estimate an ARDL model (Auto Regressive Distributed Lag model), which is part of the class of dynamic models, and which makes possible to capture the temporal effects (adjustment time, anticipations, etc.) in the explanation of a variable.</p> <p><strong>&nbsp;</strong></p> <p><strong>&nbsp;</strong></p> <p><strong>JEL classification</strong>: H10, H60, O40</p> <p><strong>Paper Type: </strong>Empirical Research</p> 2021-11-29T23:04:46+00:00 Copyright (c) 2021 Khalid Achibane Pass-through analysis of key rates on bank interest rates in Morocco 2021-11-29T23:15:57+00:00 Adil Msady Driss Ouahid Mohsine Ait Cheikh <p>Understanding transmissions is one of the pillars of developing a modern and effective monetary policy, as this enables monetary authorities to assimilate the way in which monetary decisions influence the economy, in order to determine the instruments to be mobilized in order to be able to steer the economy in the desired direction.</p> <p>This understanding is closely related to the analysis of the transmission of the interest rate, since it is the traditional channel among the various channels of monetary transmission. It is an important tool in monetary decision-making to achieve effective conduct of monetary policy.</p> <p>The objective of this article is to analyze, for the Moroccan case, the transmission of key interest rates on lending interest rates, in order to identify and quantify the impact of monetary decisions aimed at financing the economy through the banking system on interest rates on bank loans.</p> <p>The estimate of the pass-through of key interest rates on bank interest rates was based on an ARDL modeling and covered data on a quarterly frequency covering the period 2007-2021. This data relate to the Weighted Average Rate of the Interbank Market (TMP) and the Average Debit Rate (TDM).</p> <p>The results obtained lead us to suggest that the pass-through in Morocco is incomplete in the short term. That is, the transmission of monetary policy decisions through the interest rate channel remains limited.</p> <p>While in the long term, it is significant and comprehensive, which means that the decisions of the monetary authorities in Morocco, via the interest rate channel, require more time for the banks to adjust their interest rates and to those businesses and households can feel the effect of these decisions.</p> <p><strong>&nbsp;</strong></p> <p><strong>Classification JEL&nbsp;:</strong> C32, E44, E52, G20</p> <p><strong>Paper Type&nbsp;:</strong> Empirical Research</p> 2021-11-29T23:13:49+00:00 Copyright (c) 2021 Adil Msady, Driss Ouahid, Mohsine Ait Cheikh Taxation and corporate financing: what theoretical approach? 2021-11-29T23:25:12+00:00 Lamiaa Dahmani Hamid Ait Lemqeddem <div class="page" title="Page 1"> <div class="layoutArea"> <div class="column"> <p>The aim of this paper is to review the literature on taxation and corporate financing, while mobilizing the theoretical foundations dealing with the impact of taxation on corporate financing. Indeed, taxation has become an important variable in the financial strategy and an essential element in the decision-making of any company, insofar as the main objective is always to maximize profits and improve the firm value. As a result, the tax literature has focused on tax issues in the search for the most appropriate and cheapest means of financing. Each means of financing has advantages and disadvantages that the company takes into consideration when making its financing decision. Through several aspects, in particular the Tax aspect, which may encourage or discourage the use of a particular means of financing. Nevertheless, the tax provisions influence, directly and indirectly, investment financing decisions, through the presence of a tax burden of financing, the existence of tax advantages and the differentiation of the tax treatment according to each mode of financing.&nbsp;Since tax is always considered a legal obligation to comply with or an additional cost to be borne, the company always seeks to optimize its taxation by making use of the means of financing allowing it to save tax.</p> <p>&nbsp;</p> <p><strong>JEL Classification :</strong> G30, G32<em>&nbsp; </em></p> <p><strong>Paper type :</strong> Theoretical Research </p> </div> </div> </div> 2021-11-29T23:23:33+00:00 Copyright (c) 2021 Lamiaa Dahmani, Hamid Ait Lemqeddem The incorporation of the digital dimension in the evaluation of the overall performance of public companies: Case study of a Moroccan state-owned company 2021-11-29T23:40:01+00:00 Kawtar Benkirane Khadija Benazzi Lamia Berrah <p>Public performance is a concept that is gaining more and more importance in the public strategies of several countries including Morocco. In fact, these strategies consider digitalization as a shortcut to achieving the goals of the new development model. Today, the global vision of performance should absolutely broaden its vocation to include the new digital disruptions that are imposed on public organizations among others, for a more "realistic" evaluation of their performance.</p> <p>This article offers a new interpretation of performance by demonstrating the contributions of the integration of the digital dimension in the evaluation of the overall performance of a public company. This through a case study of Marrakech Menara airport where the comparison between two methods (inspired by the two visions that this article opposes) is used. A first which is based on the classic vision defining global performance through its 4 dimensions (economic, social, societal, and environmental) and the second inspired by the contributions of the successful experience of digitization of the customs administration and indirect taxes. The results of this study made it possible to propose a new vision that allows a more global assessment of performance making it more realistic and in line with the digital disruptions that characterize our era.</p> <p>The results of this study cannot be generalized given the size of the sample studied but can serve as a basis to argue the limits of the classic vision of global performance as well as the subjectivity of business strategies. It also emphasizes the need to modernize the public management tools.</p> <p>&nbsp;</p> <p><strong>JEL Classification:</strong> H11</p> <p><strong>Paper type:</strong> Empirical research</p> <p><em><br></em></p> 2021-11-29T23:37:13+00:00 Copyright (c) 2021 Kawtar Benkirane, Khadija Benazzi, Lamia Berrah A holistic overview on the antecedents of organizational trust: Aggregated theoretical framework 2021-11-29T23:49:27+00:00 Marwa Khouya Abdelhay Benabdelhadi <p>The recent interest of management researchers in the issue of organizational trust is mainly based on its indispensable role in efficient and effective management focused on human capital. Organizational trust is thus a phenomenon of uncertainty minimization, and the embodiment of a work climate that is worthy of the name.&nbsp; While organizational trust is understood as central to any exchange relationship, it has not been studied in a pre-birth approach to understand how it occurs in an organizational context.</p> <p>This paper aims to clarify the concept of organizational trust through different dimensions and forms, and to present a holistic overview of its antecedents levels taking into consideration all the variables that can directly or indirectly lead to organizational trust. The enrichment of the understanding of organizational trust is achieved by drawing on the affective and cognitive dimension of trust to clearly identify all the potential elements that can lead to organizational trust. Obviously, the theory mobilized in this research work is the theory of the social exchange which has been greatly shaken to study the exchange relations between the organization and its employees. For this purpose, various backgrounds are examined in this paper, including individual-level antecedents (Personality traits, propensity to trust), organizational-level antecedents (Organizational support, organizational effectiveness and Human resources policy), and cultural-level antecedents (Values, power distance, individualism/collectivism).</p> <p>The discussion and analysis of the different relationships with various antecedent levels of organizational trust has allowed us to propose a global theoretical framework in order to fundamentally identify multiple areas of future research and to contribute to the knowledge of the topic.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong>M10, M14</p> <p><strong>Paper type: </strong>Theoretical Research </p> 2021-11-29T23:47:53+00:00 Copyright (c) 2021 Marwa Khouya, Abdelhay Benabdelhadi Determinants of professional paths of university graduates in morocco: longitudinal study 2021-11-30T00:08:35+00:00 Fatima Berahou Abdeljebbar Abdouni <p>This study focuses on the professional paths during the thirty-six months following graduation from the university in 2009. This promotion is the only one for which monthly longitudinal data are available and which allow dynamic monitoring of graduates since leaving university. It is therefore appropriate to analyze the professional path or a process of integration in the market labor. The study is intended to be a monograph of the different paths and successions of employment status, studies, unemployment, and inactivity, leading or not to job stabilization, using a recent classification method (optimal matching). This research also relied on a multinomial logit model to analyze the different factors contributing to belonging to a given professional trajectory.</p> <p>In this analysis, we construct six typical professional paths, namely, trajectories marked by immediate access to employment and professional stabilization, access to employment after periods of unemployment, obtaining a job after studies or inactivity, persistence of unemployment, persistence of inactivity and dominance of periods of further study. In addition, the analysis of the individual determinants of the belonging of university graduates’ to the different typical paths leads to the importance of the role of the socio-demographic and academic characteristics of the graduate. The first result is the persistence of inequalities between men and women. Family characteristics also determine the paths of graduates, for example, the high level of education of parents promotes rapid access to employment. Finally, the diploma is a crucial factor of access to employment. Holders of BAC + 3 diplomas are the most exposed to the risk of unemployment.</p> <p>&nbsp;</p> <p><strong>JEL Classification : </strong><em>C23, C25, J22&nbsp; </em></p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-30T00:06:28+00:00 Copyright (c) 2021 Fatima Berahou, Abdeljebbar Abdouni The impact of logistics outsourcing performance on provider commitment: an empirical study 2021-12-31T09:50:28+00:00 Abdelilah Karouchi Rachid Smouni <p>Since the 2000s, the relationship marketing approach starts to take place and change the philosophy of classic transactional marketing. It is a new way of marketing where customizing is the key element of the marketing action. Of particular importance is giving to building a long-term relationship allowing the company not only to have a loyal customer but also an ambassador who is spreading the company's image across the network. That is to say, building loyalty always costs less than having a new customer.</p> <p>Also, commitment plays an important role in the inter-organizational relationship. For (Berry, 2002), a service performance offered by the company strengthens the customer's trust in the company and gives maintain his commitment in the relationship or even mutual commitment. Likewise, an engaged partner in the relationship is less likely to change his partner and suffers less from the effects of competitive distortions even in the case of low performance. Hence, customer commitment contributes to the stabilization and maintenance of the long-term relationship (Ulaga &amp; Eggert, 2006).</p> <p>This paper focuses on studying the impact of logistics outsourcing performance on customer commitment through an empirical study using in the analysis the PLS method. The results show a significant relationship between customer satisfaction and commitment.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL classification: </strong>M31</p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-30T00:09:24+00:00 Copyright (c) 2021 Abdelilah Karouchi, Rachid Smouni Difficulties in accessing financing for Moroccan SMEs, causes and alternative in Islamic finance 2021-11-30T00:15:16+00:00 Hajar Hajarabi Mustapha Achibane <p>SME occupy an important place in the Moroccan economy. This importance comes from the fact that they have irreplaceable assets that make them an undeniable tool for the economic and social development of any country. However, this type of company encounters several problems at all levels: administrative, financial and even at the management level. In fact, the financing problem is considered as the major challenge that SMEs must overcome. This article studies the possibility of considering some participatory finance products as a solution to the problems encountered by Moroccan SMEs when accessing finance. To do so, a survey carried out among SMEs in the province of Kenitra in order to identify the problems related to financing Moroccan SMEs, the modes of financing most used by this type of firm as well as their expectations regarding participatory finance. The data collected through the survey was subjected to analysis using crosstabs. The results obtained show that the major problem encountered when applying for financing is the high cost of the products offered as well as the lack of a product that respects the specificities of SMEs. They also show that this population considers that participatory finance can constitute a real alternative for financing SMEs.</p> <p>&nbsp;</p> <p><strong>JEL Classification: </strong>M13</p> <p><strong>Paper type: </strong>Empirical research.</p> 2021-11-30T00:13:03+00:00 Copyright (c) 2021 Hajar Hajarabi, Mustapha Achibane Islamic Entrepreneurial Approach: Singularity and Intersections with Customary Entrepreneurial Approaches 2021-11-30T14:20:11+00:00 Driss El Kadiri Boutchich Narjiss Jarroudi <p>This theoretical publication, resulting from a constructive epistemological posture research using a qualitative study approached in a double sense: By the first qualitative sense relating to the theoretical component: the aim is to develop concepts that will help us better understand customary and Islamic approaches, in entrepreneurial contexts; and by the second qualitative sense relating to the empirical aspect: According to Eisenhardt (1989), for whom, a qualitative approach is necessary and useful when the phenomenon is not sufficiently known and the objective of research is to build rather than test. Notably, entrepreneurship in an Islamic approach, as we discuss in a forthcoming publication, is only presented by a few studies; this sense presents a point of junction with the constructive approach attempting to build an effective entrepreneurial model in an Islamic approach M.E.E.A.I.</p> <p>The objective of this theoretical article is to make a comparison between the practices of the Islamic entrepreneurial approach and its same practices among customary approaches to identify the points that reconcile the two categories of approaches. Then, we accentuate the distinctive aspect of the Islamic approach.</p> <p>The Islamic approach, continued for more than 15 centuries to hold its place in the business world; while preserving the same sources of its legislation 'these sources, and to take into consideration the sphere in which they are applied, have been readjusted and revised through Islamic jurisprudence without departing from the framework of the Shari’a Islamic. Other customary approaches have had to go through centuries to come close to this Islamic approach, in terms of socially responsible entrepreneurship, female entrepreneurship, and the setting up of institutions that ensure the proper functioning of entrepreneurship.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification:</strong> B59</p> <p><strong>Paper type:</strong> Theoretical Research</p> 2021-11-30T14:18:22+00:00 Copyright (c) 2021 Driss El Kadiri Boutchich, Narjiss Jarroudi Innovation in risk management of Islamic banks 2021-11-30T14:27:46+00:00 Mohamed Amine Zerouali <p>Innovation is an effective lever on which Islamic finance can rely to achieve its mission and ensure its sustainability. Islamic finance professionals and academics have been constantly inventing new innovations in Islamic financial institutions in an attempt to fill every gap and satisfy every need that one can think of. Islamic banking, known in Anglo-Saxon countries as interessless banking, is based on religious values such as trust, good faith and sincerity. This mode of financing thus presents another variety of ethical finance. If, in the field of banking and finance, Islamic finance represents an alternative in terms of protection of one's own values, these alternatives of protection have also proven their effectiveness. Therefore, the protection of values in the context of risk management in Islamic finance is particularly linked to the specificity of Islamic financial contracts and techniques. All things considered, the era of innovation is born and constitutes a real catalyst for progress. The key to achieving this goal and gaining market share is to offer ever more attractive, modern and innovative products. Islamic finance must show that it is capable of creating value and ensuring financial stability. To demonstrate its existence, the Islamic financial system must modernize its offer and ensure the effectiveness of its governance and risk management mechanisms. This paper aims to study the innovation mechanism for risk management in Islamic finance as it can be deduced from the axioms and decisions, especially in risk management. It is necessary to study the means and processes of risk management according to the paradigm of Islamic finance. Although Islamic financial institutions have on average good risk management practices, their management systems can still be improved. Establishing an effective risk management culture in Islamic financial institutions will ensure their competitiveness.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification</strong>: F3</p> <p><strong>Type of paper</strong>: Theoretical Research</p> 2021-11-30T14:26:32+00:00 Copyright (c) 2021 Mohamed Amine Zerouali Corporate Social Responsibility & Parenthood Support in Private Companies in Morocco 2021-11-30T14:34:55+00:00 Asmaa Farah <p>Taking into account non-work is a subject that is still little addressed in management research in Morocco. On the business side, interest is emerging given two major elements, namely the increasingly marked importance for societal commitment and the emergence of work-life balance as a salary expectation.</p> <p>The issue of work-family articulation has been addressed in several contexts by studying several socio-professional categories. In this paper, we look at this issue with a specific category of employees, namely parents. The objective of this work is to respond to the following problem: to what extent is the problem of parenthood taken into account in the HR practices of private companies in Morocco?</p> <p>Moroccan studies on the issue have shown that work-family reconciliation practices are rare, while employees have expectations in this direction (Bentaleb et al 2013; Farah, 2016). In this paper, we wish to identify the HR practices that offer support for parenthood within companies. We mainly targeted companies that have a commitment in terms of CSR.</p> <p>In order to carry out this work, we followed a qualitative methodology by carrying out semi-structured interviews with HRDs and HR managers.</p> <p>Our results make it possible first to underline the importance given to this question within companies and secondly to make a list of existing practices in the Moroccan context.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification: </strong>M14</p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-30T14:33:46+00:00 Copyright (c) 2021 Asmaa Farah The contribution of human values in the digital mobilization among Moroccan Internet users 2021-11-30T14:48:28+00:00 Kawtar Mawas Abderrazak El Abbadi <p>Nowadays, an incalculable number of social, economic or political mobilization actions are triggered on the web. The Internet, with its participative, interactive and anonymous character, encourages citizens to free their speech and express their disagreement and dismay.</p> <p>Whether it is the blogosphere, microglobbing systems such as Twitter or the social network Facebook, the digital guerrilla warfare gives rise to new actors exercising their right to citizenship in the context of a democratic transition, particularly in the Maghreb. This digital movement involves several variables and we chose through this paper to study the impact of human values in the digital mobilization led by Internet Moroccan users.</p> <p>Our objective is to explore the role played by the typology of values, the nature of the profile users and their relationship to human values in online mobilization and the degree of this mobilization. Our main research field is Facebook, which we have chosen objectively as the first global network.</p> <p>The methodology adopted follows a hypothetical-deductive approach: the conceptual model established is derived from the literature, the reliability of its structure is tested through the analysis of the structural equation model using the PLS-SEM approach, the verification of the research hypotheses and the study of the relationships between the variables are carried out through the empirical analysis of the structural model. The data are collected online by administering the questionnaire to Moroccan Facebook users. This paper does not only tend to describe a phenomenon that intrigues us but we aim to establish relationships between the aspects that identify it.</p> <p>&nbsp;</p> <p><strong>JEL Classification: </strong>D83</p> <p><strong>Paper type: </strong>Empirical research</p> 2021-11-30T14:46:11+00:00 Copyright (c) 2021 Kawtar Mawas, Abderrazak El Abbadi Adoption of international accounting standards IFRS and Bid-Ask Spread: analysis and discussion 2021-11-30T15:01:23+00:00 Sanaa El kamali Ahmed Maimoun <p>Resolving information asymmetry issues between investors and managers is one of the primary goals of adopting IFRS. Disclosure of financial information facilitate the comparability of financial statements and reduce information asymmetries On the other hand, the application of IFRS is inevitably dependent on the nature of the institutional and cultural environments of the countries where companies operate and where individuals make accounting decisions. Investors are interested in knowing if information asymmetry problems are reduced after IFRS/IAS adoption, which help them to make more effective investment decisions. The price range is used as an indicator of information asymmetry. The goal of this paper is to identify, present and analyze all the literature review and to answer the following question: What is the impact of the adoption of international accounting standards on the price band as a measure of information asymmetry? We have analyzed all the scientific research dealing with this variable as a measurement criterion and the results of this study are consistent with the expectations of the international standard-setter, according to which IFRS represent a real means for decreasing information asymmetry, which contributes to the efficient and cost-effective functioning of the market by guaranteeing a high level of transparency and comparability of financial reporting. However, the majority of studies analyzing the impact of international accounting standards on the price range are carried out in developed countries with strong economies, which leads us to the following question: do IFRS also reduce information asymmetry in emerging countries or is this benefit only available in developed countries?</p> <p><strong>&nbsp;</strong></p> <p><strong>Classification JEL: </strong>P43, F5.&nbsp;&nbsp;</p> <p><strong>Paper type: </strong>Theoretical Research</p> 2021-11-30T14:58:04+00:00 Copyright (c) 2021 Sanaa El kamali, Ahmed Maimoun