International Journal of Accounting, Finance, Auditing, Management and Economics <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> en-US <div align="justify"> <p>&nbsp;</p> </div> (Prof. Dr Zakaria EZ-ZARZARI) (Secretary of Journal) Thu, 31 Mar 2022 15:22:17 +0000 OJS 60 Influence of strategic decision-making on the performance of the port of Cotonou <p>Always, the permanent main concern of business leaders is the performance of their structure not only to counter the competition but above all to make the capital invested profitable and satisfy the stakeholders. To achieve this, several decisions must be made to give strategic orientations. If the decision-making process seems simple in small entities, it is more complex in meta-organizations where the interest of each stakeholder must be taken into account. The objective of this research is to establish the influence that strategic decision-making can have on the performance of an RTO such as the port of Cotonou. This research is conducted using a quantitative methodology based on a questionnaire with a sample of 135 executives who have worked or are still working in the Port. The data processing is done with the Amos 23 software where we first proceeded to a Factorial Analysis in Principal Component then confirmatory. Then we did reliability, validity, significance and student tests, and finally, calculated the adjustment and correlation indices (β). The results of this study show that the presence of external administrators within the Board of Directors has no influence on the performance of the port. It also shows that the experience of administrators influences operational performance but does not influence commercial performance. Finally, it shows that the moment of decision-making influences both operational and commercial performance. The results of this research help to explain the influence that decision-making has on the performance of a Territorialized Network of organization. It also invites managers to consider the experience of Board members in setting up Boards of Directors and the appropriate time before making each strategic decision.&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL&nbsp;Classification:</strong> G30, L19, L25</p> <p><strong>Paper type :</strong> Empirical Research.</p> Emile Mahoulé ADANKANHOUNDE, Thierry Mahougnon ADANKANHOUNDE, Amadou LAMINE DIA Copyright (c) 2022 Emile Mahoulé ADANKANHOUNDE, Thierry Mahougnon ADANKANHOUNDE, Amadou LAMINE DIA Thu, 31 Mar 2022 11:48:10 +0000 The role of knowledge sharing in the performance of inter-organizational cooperation of Social Solidarity Economy Organizations: Case of the groups in the Souss Massa region <p>Inter-organizational cooperation is a topical phenomenon that arouses the interest of organizations seeking to achieve performance. However, knowledge sharing is a very significant variable in the success of inter-organizational cooperation, especially when it comes to Social and Solidarity Economy Organizations (SSEOs). In Morocco, we are witnessing the creation of several forms of inter-organizational cooperation of SSEOs, through groups, unions, networks and federations. The objective of this article is to show how knowledge sharing promotes the inter-organizational cooperation of these organizations? And to what extent does this cooperation influence their performance? We show that the main purpose of this inter-organizational cooperation is to share knowledge capable of enhancing their complementarity, while maintaining their autonomy and social values. Thus, we propose a conceptual model of the positive influence of knowledge sharing and its contribution to the success of inter-organizational cooperation of SSEOs. In order to build this model, we mobilize the theory of resources through its Resource Based View (RBV) branch, which focuses on resources, experiences and the sharing of routines and good practices between cooperators. The empirical verification will be done by studying 132 inter-organizational cooperation groups of SSEOs in the Souss Massa region, based on an exhaustive quantitative approach. The empirical results show that the inter-organizational cooperation of SSEOs is built on relationships based on trust and written commitment while confirming the favorable role of knowledge sharing in the success of this cooperation.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL classification: D7<br></strong></p> <p><strong>Paper Type: Empircal Research</strong></p> Wafa AFFAGHROU, Said AHROUCH Copyright (c) 2022 Wafa AFFAGHROU, Said AHROUCH Thu, 31 Mar 2022 11:57:04 +0000 The Impact of internal governance mechanisms on the risk of tax fraud in companies <p>The regulations and the agency theory give an important place on the board of directors, its audit committee and other internal and external actors in the prevention and management of the risks of tax evasion. Nowadays, the preservation of tax revenues has become one of the main axes of the budgetary policy of governments wishing to better regulate the tax practices of companies and in particular to limit abusive or fraudulent behavior. It is therefore essential to highlight the role played by internal governance mechanisms with regard to the risks of tax evasion within companies. This research, the objective of which is to examine the impact of governance mechanisms on the existence of tax evasion within Togolese companies, is therefore part of this framework.</p> <p>Specific information on the board of directors and on the internal audit profession was requested through a questionnaire from 53 Togolese companies. Data processing was done using Excel and SPSS software and allowed not only to develop statistical tests but also to set up a logistics model. The results of the regression analysis show that the accounting and/or tax expertise of the members of the audit committee of the board of directors and the separation of the positions of CEO and PCA have a negative effect on the risk of fraud in businesses. On the other hand, the probability of the presence of the tax risk increases with the independence of the board of directors and the recourse by the companies, to the services of the external council in tax matters.</p> <p>&nbsp;</p> <p><strong>JEL Classification&nbsp;: </strong>G39</p> <p><strong>Paper type&nbsp;: </strong>Empirical Research</p> Abdou-Fataou YERIMA, Yao Messah KOUNETSRON Copyright (c) 2022 Abdou-Fataou YERIMA, Yao Messah KOUNETSRON Thu, 31 Mar 2022 12:24:36 +0000 Financial Accelerator and Bank Excess Liquidity in CEMAC zone <p>In this paper, we broaden the debate on the determinants of bank excess liquidity by focusing on a new mechanism: the financial accelerator via asymmetry information premiums. &nbsp;This study covers the CEMAC zone, made up of six countries namely: Cameroon, Chad, Congo Brazzaville, Central African Republic, Gabon and Equatorial Guinea. Data for each of these countries are secondary sources, covering the quarterly period 1994 to 2016. Thus, 88 observations are considered in the study. We use shock simulation in a structural VAR as well as Co-integration analysis in an ARDL model. The empirical analysis shows that the financial rigidity caused by the increase in the information asymmetry premium leads to a fall in investment which weakens economic activity. The fall in economic activity amplifies the increase in information asymmetry premium resulting in an increase of free reserves. Finally, when the effect of the financial accelerator is reduced by stretching the information asymmetry premium towards zero, then the refunding policy through calls to tender favors a decrease of interest rates, a profusion of credit and consequently the increase of investments and consumption.&nbsp; We suggest all measures aimed at reducing the asymmetry of information on the credit market, in particular, the creation of credit offices and / or public credit registers, the creation of rating agencies for companies and individuals, improvement of the quality of institutions whose poor-quality leads to the camouflage of information and moral hazards.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification</strong><strong>: </strong>E1, E12, E5, E50 , E51, E52</p> <p><strong>Paper type: </strong>Empirical research</p> <p><strong>&nbsp;</strong></p> Anatole TCHOUNGA, Gilles Brice M’BAKOB Copyright (c) 2022 Anatole TCHOUNGA, Gilles Brice M’BAKOB Thu, 31 Mar 2022 12:33:45 +0000 The Voter as a Value Consumer: The Role of Education in the Relationship Perceived Political Brand Image and Voting Intention <p>The world has experienced unprecedented political crises over the past decade. Indeed, we have witnessed political earthquakes with the dismissal of many presidents in Africa (the Arab Spring), Latin America and the Middle East. These different political crises showed a renewal of the political patterns that once explained voting behavior and the emergence of new factors. Through this study, we attempt to examine the influence of the perceived image of the leaders or candidate's brand on voters' voting intention. In addition, we analyze the moderating role that the level of education could play in this relationship. For the implementation, the hypothetico-deductive approach was adopted following a positivist posture. On the basis of a questionnaire administered face to face with a sample of 420 electors chosen by convenience, the data collected were analyzed by means of the method of structural equations and multi-group analysis with the software AMOS. The main results obtained, highlighted in part, the influence of the perceived image of the brand of the leader or the candidate of the voting intention of voters and the moderating role of the level of education on this relationship. These results therefore show that the candidate's image is a determining factor in the voter's decision-making process and is a predictor of voters' voting intention. Furthermore, we note that this effect of the perceived image of the leaders or candidate's brand on voting intention varies according to the level of education of the voter.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>Classification JEL</strong>&nbsp;: M 30&nbsp;;</p> <p><strong>Paper Type</strong> : Empirical Research.</p> Ismaël AW SAMBA Copyright (c) 2022 Ismaël AW SAMBA Thu, 31 Mar 2022 12:39:35 +0000 The emergence of business ecosystems in Morocco: Aesthetic tourism case <p>The concept of business ecosystem is not new. Indeed, it is to Moore (1993) that we owe the first reflections on inter-organizational networks, their dynamics and the common factors of their development. Membership in these entities is an invaluable source of innovation. They not only have a theoretical interest but also economical and managerial ones. On a theoretical level, this paper work enhances studies dealing with business ecosystems in general and aesthetic tourism ecosystems in a particular way. Economically speaking, this article highlights the importance of inter-organizational partnerships for the development of the nation economies. In a managerial point of view, it responds to leaders questions about the strategies to adopt when it comes to being part of these new types of reticular organizations. In addition, aesthetic tourism in Morocco, as an ecosystem that has established itself for several years as a market in it’s best shape, has started to attract the attention of researchers and managers. Based on a qualitative study, this work tends to explore the conditions for the emergence of an aesthetic tourism ecosystem in Morocco, the problems it faces as well as the potential solutions for its emergence. The theoretical researches revealed a set of emergence factors. They were supported, then supplemented during the interviews with a sample of 11 potential actors of the Moroccan Aesthetic tourism ecosystem. Essentially, we were able to conclude that the birth of an ecosystem community is led by an alternation between spontaneity and intention, during which there is foster for mutual sharing of resources in a well-founded legal basis and a superior climate of trust within diversity.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification :</strong> L14, M10</p> <p><strong>Paper type:</strong>Empirical research</p> Oumaima SMYEJ, Si Mohamed Copyright (c) 2022 Oumaima SMYEJ, Si Mohamed Thu, 31 Mar 2022 12:43:44 +0000 Infrastructure and economic growth: the case of Mali <p>The main objective of this study is to analyze the effect of infrastructure on economic growth in Mali over the 1991-2020 period. The originality of this research lies in the use of quantitative indices based on physical measures as a proxy for infrastructure. The secondary data used in this work come from two sources: the African Development Bank (Africa Infrastructure Development Index, AIDI) and the World Bank (World Development Indicators, WDI). The error correction model (ECM) was used to examine this relationship. Our empirical results indicate that transport infrastructure is a positive and significant determinant of GDP per capita growth in both the short and long run. The coefficient is rather small but highly significant. A one-point increase in transport infrastructure stocks would lead to an increase of about 0.32 points in GDP per capita in the long run.&nbsp; As for water and sanitation infrastructure stocks, a 1% increase in their level leads in the short run to an increase in GDP per capita of about 0.038%, but in the long run it is not significant. As for the energy and telecommunications infrastructure stocks, the results of our estimations revealed that these infrastructures do not have a significant effect on economic growth in either the short or long term. Therefore, more investment in physical infrastructure would be beneficial. Increased investment in physical infrastructure and the mobilization of significant resources for infrastructure maintenance can be a powerful engine of economic growth.</p> <p>One of the limitations of this study is that it does not take into account the ecological effect, as the realization of infrastructure requires a significant amount of space, which could negatively affect the environment of a country.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>Classification JEL:</strong> E22</p> <p><strong>Paper Type:</strong> Empirical Research</p> Traoré SOUAÏBOU SAMBA LAMINE, Traoré MODIBO Copyright (c) 2022 Traoré SOUAÏBOU SAMBA LAMINE, Traoré MODIBO Thu, 31 Mar 2022 12:59:31 +0000 Islamic Stock Market Performance in the Era of the COVID19 Crisis : An Empirical Study Using the GARCH Model <p>Islamic Investment (IS) or Sharia-compliant Investment (ICC), is a new kind of ethical investment that emerged in the twentieth century. It is a cost-effective option for investors who want to make their money available only to businesses that follow the Islamic religion's guidelines. However, in empirical research on the growth of these financial assets, the question of their performance remains the determining point that spills much ink. Having an interest in the performance of Islamic assets entails examining them from both a financial and non-financial aspect (Serret 2003). So, our study is therefore in line with this perspective aimed at analyzing the Islamic stock market's performance.</p> <p>Given that volatility, which is synonymous with risk, has a significant impact on performance, our ultimate goal is to find an answer to these questions: How and to what extent the COVID-19 issue influenced the volatility of Islamic stock indexes? And have they been less volatile and, therefore, better performing than conventional stock market indexes? The contribution of our study to the current empirical review lies in the use of econometric modeling using the GARCH model to analyze and compare the conditional variance of stock market indices. The study was conducted on a daily database from January 1, 2019, to December 31, 2021, for four Islamic and conventional stock indexes. Two represent the global stock indexes (DJIM and GDOW) and two present the US indexes (IMUS and DWCF). Our study allowed us to conclude that the global Islamic stock index was more volatile and therefore riskier than its counterpart during the period of a health crisis, while the opposite was observed for the US indices. However, in periods of low tension, no preference can be given to one type of index over the other in terms of volatility. All these observations lead us to confirm that the question of the over or under-performance of one type of index compared to the other is not absolute. It is rather dependent on the degree and nature of the shock attacking the country under study.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong>C01, C22, G01, G15</p> <p><strong>Paper type: </strong>Empirical research</p> Karim AMEZIANE, Bouchra BENYACOUB Copyright (c) 2022 Karim AMEZIANE, Bouchra BENYACOUB Thu, 31 Mar 2022 13:06:02 +0000 Attractiveness of foreign direct investment and economic growth: the case of Morocco <p>The objective of this study is to assess the economic impact of the attractiveness of Foreign Direct Investment (FDI) on economic growth in Morocco, based on the endogenous growth model. Indeed, the importance of FDI lies in its capacity to generate positive externalities or "spillover" effects that affect all economic variables, namely human capital, domestic investment, exports, foreign trade, technology transfer, infrastructure, etc., which in turn affect economic growth.</p> <p>The phenomenal growth of FDI and these shifts in focus of destinations have raised many questions, namely what explains the strong interest in FDI? Does FDI have a positive impact on the economic growth of the host country?</p> <p>After conducting a literature review of the different concepts studied, we conducted an empirical study on time series collected from several sources, namely the World Bank, Bank Almaghrib, the Haut-Commissariat au Plan, the Ministry of Finance in Morocco, the Ministry of Higher Education, and the Office de Change, using an econometric model representing simultaneous equations and performing several econometric tests, namely the Augmented Dickey-Fuller test for stationarity analysis, the "Granger" test for causality analysis, the "Jarque-Bera" test for normality analysis, and finally, the "Breusch-Godfrey" test for residuals homocedasticity analysis Indeed. This empirical analysis carried out during the study period (1970-2019) shows that FDI and foreign trade are the main drivers of economic growth in Morocco. Moreover, we find that there are no direct links between FDI and the other determinants of economic growth, namely human capital, domestic investment, foreign trade and technology transfer.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>C23, F43, O47.</p> <p><strong>Type of paper: </strong>Applied research.</p> Ismail CHEBH, Abdellatif NOUREDDINE Copyright (c) 2022 Ismail CHEBH, Abdellatif NOUREDDINE Thu, 31 Mar 2022 13:11:29 +0000 Contribution of digital technologies to the growth of Cameroonian SMEs <p>Low level of digitalization constitutes a major obstacle for the competitiveness and growth of SMEs in the world and particularly in Cameroon because of the increased competition induced by globalization. It is in this regard that this article attempts to evaluate the contribution of digital technologies to the growth of Cameroonian SMEs. To this effect, the study tested the Mintzberg's theory of organization and Porter's theory on competitive advantage, using data collected by means of a questionnaire from a sample of sixty SMEs, operating in the country. The data were analyzed using statistical techniques of linear regression. The results of the estimations purported that the use of digital technologies (digitalization, internet, e-commerce) has a positive impact on the growth indicators of SMEs. Indeed, digital technologies facilitate access to information, enhance dematerialization of information flows and instantaneous exchanges between employees and/or clients. This contributes to reduce production costs and enables the attainment of economies of scales and enhance the creation of added value with innovations in communication, production and marketing processes. In fact, these results imply that digitalization is an essential tool to improve the growth of SMEs in Cameroon. In view of the above, there is a need to invest more in the digitalization of processes within an enterprise, particularly in SMEs.</p> <p><strong><em>&nbsp;</em></strong></p> <p><strong><em>JEL classification&nbsp;: </em></strong><em>L1&nbsp;; L25&nbsp;; O32</em></p> <p><strong><em>Paper type&nbsp;:</em></strong> <em>Empirical Research</em></p> Hadja SOUREYA, Ismaila AMADU Copyright (c) 2022 Hadja SOUREYA, Ismaila AMADU Thu, 31 Mar 2022 13:15:42 +0000 Youth employment in Mali: characteristics and challenges <p>The encouraging macroeconomic performance recorded by Mali over the past ten years has failed to create the conditions for sustained social and economic development for all segments of the population. Many initiatives put in place by the public authorities through job creation schemes have also been unable to cope with the growing unemployment, particularly among the young population. Access to employment and income is today a major challenge for the working population in this country, especially young people. The methodology relates to the documentary review, the collection of data at the level of the productive structures of statistical information of the Malian public administrations following the analysis of these data. It will attempt to highlight the many challenges facing the country. Since the challenges to be met are immense, they will have to be made priorities in order to encourage an increase in the population actively participating in the production of goods and services. Since beyond the economic situation, the degree of development, even of well-being, may, in some respects, be linked to unemployment rates. The characterization of youth employment in this work has made it possible to make implications in terms of economic policies. All things that would improve the employability of young people and avoid crises and conflicts related to youth unemployment.</p> <p>&nbsp;</p> <p><strong>Classification JEL&nbsp;: J64</strong></p> <p><strong>Paper type:</strong> Empirical Research</p> Amadou DOLO, Ousmane MARIKO, Mahamadou B TANGARA, Boubacar SY Copyright (c) 2022 Amadou DOLO, Ousmane MARIKO, Mahamadou B TANGARA, Boubacar SY Thu, 31 Mar 2022 13:19:10 +0000 Statistical analysis and econometric modeling of the determinants of the demand for health care in Morocco <p>There are frightening inequalities in health and access to care worldwide. Thus, health, represents an important component of human capital, is an essential sector for the development of any economy.. Many people in the world have no access to health care or without medical insurance (WHO, 2013), especially in developing countries, millions of people suffer from preventable diseases such as infectious diseases, malnutrition... (WHO, 2016). Like many developing countries, Morocco has implemented, in recent years, several reforms aimed at improving the accessibility of health care services with the objective of eliminating disparities inherent to the characteristics (socioeconomic, demographic, epidemiological...) of the population on the one hand and the supply of care (type of care, distance,...) on the other. This article uses data from the national survey on household living standards conducted by the Haut-commissariat au Plan in 2006/07 among 7062 households (+36,000 people) in the country's 16 regions to study the demand for health care in Morocco. A health care demand model was used, which, through an estimation of the binomial Logit model, made it possible to identify the determinants of health care use. The results obtained show that the rate of use of modern health care is higher among patients in urban areas and those who have medical coverage, as well as health care expenditures that remain high despite the implementation of several public policies.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>C5</p> <p><strong>Paper type: </strong>Empirical research.</p> Safwa KHOALI, Zouhair LAKHYAR Copyright (c) 2022 Safwa KHOALI, Zouhair LAKHYAR Thu, 31 Mar 2022 13:22:26 +0000 Rural tourism in the province of Azilal, what socio-economic impacts for territorial development? <p>Tourism is considered as a sector of activity with a strong contribution to territorial development. The OMT, for example, consider it as the engine of socio-economic growth, by acting on poverty reduction and working for job creation, has chosen which has enabled it to acquire international status, as a development tool, which contributes to improving living conditions at the local level. Rurality in Morocco as in the world experiencing a strong dependence on the agricultural sector, which presents fluctuating productions, due to the succession of years of drought in these countries, has confronted the populations of rural areas with major problems, such as unemployment, poverty and exodus. The issue of possible development strategies in rural territories then began to emerge, emphasizing the importance of diversifying the economy of these rural territories, in order to compensate for the low yield of agriculture, by focusing towards other sectors of activity such as tourism, especially for territories with potential for the development of the sector.</p> <p>The development of a tourist activity in rural areas could therefore constitute a contributing factor to sustainable local development within rural Moroccan territories. In order to assess the socio-economic impact of this activity on rural territorial development, this article is based on an empirical study mobilizing a mixed approach, relying on a quantitative approach through the exploitation of the figures collected based on documentary research and a qualitative approach mobilizing the socio-economic indicators of rural territorial development, relating to rural tourist activity, which are employment, income and tourist supply and demand. These indicators were evaluated from the answers collected from the interviews held with the local tourism stakeholders interviewed, as part of a field study carried out at the level of a Moroccan rural territory which is the province of AZILAL. The results of this empirical study revealed that rural tourism has marked its role as a lever for territorial development in poor areas, which have a natural and cultural heritage favorable to the development of a tourist activity.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>Z00</p> <p><strong>Paper type:&nbsp; </strong>Empirical research.</p> Bouchra JEDDI Copyright (c) 2022 Bouchra JEDDI Thu, 31 Mar 2022 00:00:00 +0000 Participation of the democratic republic of Congo in international trade, analysis of import-export statistics from 2016 to 2020 <p>We did an analysis of DRC exports and imports with the rest of the world. Due to the lack of data in recent years, our observations covered 4 years (2016-2019). In order to know the balance of the trade balance of the DRC, our main question was: «what is the contribution of the DRC in international trade? ». To answer this question, the data were collected on the basis of the documentation of the annual reports of the Central Bank of Congo. They were treated by the comparative method. The latter consisted of comparing the import and export statistics of the DRC, on the basis of tables and transforming the data collected into indices and rates of variations to facilitate understanding. The analyses showed that most of the DRC’s exports come from the primary sector (mining products, hydrocarbons, agricultural products). This primary sector generated 95% of export earnings. The DRC’s trade balance was negative in 2016 but improved in 2017 and even more in 2018, however it decreased significantly in 2019, among other things, because of the impact of Covid-19. The DRC was found to have a trade surplus. However, this trade surplus must guarantee a higher employment rate, an improved standard of living.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification</strong> : F10</p> <p><strong>Paper type</strong> : Empirical research</p> Jean-Bosco LANGE MUZALIWA, Marther NEEMA MUGISHO Copyright (c) 2022 Jean-Bosco LANGE MUZALIWA, Marther NEEMA MUGISHO Thu, 31 Mar 2022 13:34:10 +0000 The Moroccan Public University System: A Colossal with Feet of Clay? A thematic study of the 2020 CSEFRS sectoral report <p>Originating in Anglo-Saxon countries (United States and Great Britain), NMP has spread to several countries, and Morocco is no exception. Indeed, in the context of the failure of the old management model of Moroccan public institutions, NMP has emerged as the ultimate solution. This new management approach is based on several fundamental principles that are essentially aimed at the performance of public organizations. However, it turns out that performance is a subjective, polysemous and ambivalent notion, as it is at the crossroads of a wide range of domains and has different dimensions. Moreover, being one of the most important state organizations in Morocco, the performance of the public higher education system with regulated access is at the center of the concerns of several actors, since it represents a locomotive of development and a vector of value creation. In this paper we attempt to propose an assessment of the performance of the public higher education system with regulated access in Morocco, based on the data of the sector report elaborated by the CSEFRS and the INESEF in 2020. For this purpose, we opted for Morin's (1994) multidimensional model of global performance measurement. In the end, the thematic analysis of this report revealed a mixed picture: The Moroccan university system with regulated access is a sector that generally achieves the quantitative objectives assigned to it. On the other hand, given the challenges and weaknesses that hinder its performance, it remains a major undertaking that requires a structural overhaul to move from simple performance measurement to a performance management system.</p> <p><strong>&nbsp;</strong></p> <p>&nbsp;</p> <p><strong>JEL</strong>&nbsp;<strong>classification</strong> : I23</p> <p><strong>Paper type</strong>&nbsp;: Applied research</p> Basma EL GUEBDA, Abdelwahad GOURCH Copyright (c) 2022 Basma EL GUEBDA, Abdelwahad GOURCH Thu, 31 Mar 2022 00:00:00 +0000 The Determinants of the Financial Structure of Mauritanian Public Enterprises <p>Financial theory proves that some companies prefer to finance themselves only through equity, while others favor a mixed structure consisting of equity and debts. The choice of&nbsp; a financial structure is made in consideration of several factors. The objective of this article an attempt to empirically determine the factors . which lead Mauritanian public companies to prefer a financial structure. &nbsp;Our research focusses on a data corpus from thirty one Mauritanian public companies, which filed their financial statements with the DTF (Directorate of Financial Supervision) for the period from 2017 to 2019, Hence the use of the random effect static panel data method of 93 ,observations owning to the given of the heterogeneity at the data level.</p> <p>The results obtained from the model estimation of the random effects panel data show that three of the five variables examined can be considered as major determinants of the financial structure of the companies involved in this study. They include, the size and liquidity variables are negatively and significantly correlated with the total indebtedness of these companies. On the other hand, the age of the enterprise variable is positively and significantly</p> <p>linked with endebtedness.&nbsp; As the effect of these two variables proved negative, thus confirming TOT&nbsp; predictions. company age is accounted by the „POT‟. This implies that even though the relative importance of the „TOT‟ is underscored, theoretical frameworks of reference complement one another, which accounts for the choice of the financial structure of the companies studied. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p>&nbsp;</p> <p><strong>Jel Classification Codes : </strong>L32 ; G39 ; C33</p> <p><strong>Paper type :</strong> Empirical research</p> Ghalla CHIKH, Dah BELLAHI Copyright (c) 2022 Ghalla CHIKH, Dah BELLAHI Thu, 31 Mar 2022 13:48:23 +0000 Resilience and agility of the port logistics supply chain : the case of the port of Agadir <p>Port complexity continues to grow, posing increasing challenges in terms of security and risk management. Today, when complex systems fail and incidents occur, there is an initial tendency to attribute failure to humans. Yet, research has shown that most often are organizational factors that create adverse conditions and increase the likelihood of system failure.</p> <p>Resilience is a proactive approach that looks for ways to improve the capacity of organizations, explicitly monitor risks, and make appropriate trade-offs between required levels of security and global economic pressures. Failures do not involve a breakdown or malfunction of a normal system but rather the inability of the system to adequately adapt to disruptions and changes given resources and capacity.</p> <p>Ensuring resilience is a challenge when the magnitude of a potential disruption cannot be predicted.&nbsp; Is it possible to make a system resilient to a disruption of an unknown magnitude?</p> <p>The objective of this work is to study the resilience factors most cited in the literature review, then the treaties with the main stakeholders at the port of Agadir to finally arrive at the contextualized according to their importance and according to the main stakeholders at the port crossing. As a result, we studied our research case in three different situations: shutdown, inbound, and outbound. The conclusions drawn from this qualitative research highlight that the alignment of the capacities of anticipation, learning, and adaptation with the resources available to the port of Agadir are essential to build a resilient port system.</p> <p>&nbsp;</p> <p><strong>JEL Classification : </strong><em>D20, D82, L20&nbsp; </em></p> <p><strong>Paper type: </strong>Empirical research</p> Meryem SERGHINI Copyright (c) 2022 Meryem SERGHINI Thu, 31 Mar 2022 13:55:00 +0000 Questioning the linearity of the return to education on salary: Case of the Casablanca region <p>In economics, education is considered a good. Education meets a human need. It therefore has the property of satisfying this need. Each human being is then able to recognize the usefulness that this good provides. For this, everyone must be able to appropriate it. What is the essence of the characteristics that economics gives to education? Coming from the same disciplinary field, the theory of human capital seeks to demonstrate that education can constitute capital when it accumulates and generates future gains. Education is thus part of the logic of investment. This is what we are attempting to outline here. The analysis of private rates of return to education is not a new phenomenon. The human capital theory underlying this concept states that the expenditure made by individuals in order to acquire knowledge and skills results in increasing their productivity and future income, in the same way as investment in real capital by a company leads to an increase in its production and its external revenues. We will do an empirical study by evaluating the Mincer gain function in the Casablanca region.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong><em>E24, H75, I20, J24</em></p> <p><strong>Paper type: </strong>Empirical research</p> Hassan ATI, Karim SABRI Copyright (c) 2022 Hassan ATI, Karim SABRI Thu, 31 Mar 2022 13:59:28 +0000 Démocratie Participative et Sport Régional : La place des dispositifs participatifs dans la conduite de la politique sportive de la région de Tanger-Tétouan-Al-Hoceima <p>Today, sport is inseparable from the economic world, social issues and universal values of inclusion, human development and strengthening social cohesion. What is also evident is that this field is an integral part of the regional political space. There is no question of territorial collectivities and public authorities neglecting this reality because it participates in one way or another in the construction of the identity of their territory. On this dimension, the organization of sport is looking for new technologies of power and a new integration of actors.</p> <p>Our ambition in this article is to effectively verify the implementation of an innovative dynamic of democracy in sport. In other words, participatory mechanisms that allow for increased public participation during the development of regional sports policy. The logic of action of the actors is important in our study insofar as we must not neglect to identify those who have the power to influence sports policies, and take into account their positions in these spaces.</p> <p>Translated with (free version) Convinced that sports policies only make sense through the use that stakeholders make of them, we decided to examine how a group of heterogeneous actors manage to design a regional sports policy and what are the principles of action that structure their strategies. The aim of this article is to determine the dynamics of participatory democracy and its impact on the relations between local authorities’ associations. In order to answer this question, we followed the current of critical realism (Bhaskar, 1975) by characterizing the point of view of local actors, elected politicians and leaders of sports clubs and associations on the orientations of sports policy and on their reciprocal relations based on their occupied positions (Harvey, 2009). The method of the survey by semi-directive interviews was mainly used in our study allowing us to interrogate those actors likely, by their function and expertise, to take part in the conception and the conduct of the regional sports policy.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>Z28.</p> <p><strong>Paper type: </strong>Empirical research.</p> Içam HARFI Copyright (c) 2022 Içam HARFI Thu, 31 Mar 2022 14:04:50 +0000 The contribution of internal audit to the performance of the internal control system: case of the Moroccan banking sector <p>The ultimate objective of this article is to present the role of the internal auditor in the performance of the internal control system (ICS). Firstly, our reflection is oriented towards a deepening of the literature review in order to better understand the concepts and the nature of the relationship between internal audit and internal control, then we have presented the research methodology followed, in this case the qualitative methodology with exploratory aim, Then we presented the results after communication of an interview guide with seven auditors and a member of the management committee who work in different Moroccan banks, which present two types, the first one considers that information and communication are the conditions of success for an ICS, the second one emphasizes the importance of respecting the components of internal control.&nbsp;&nbsp;</p> <p>As with any study, our research had a limitation, namely the sample size, which we felt was limited due to the health crisis, resulting in the unavailability of managers to conduct our interviews properly.</p> <p>The academic interest of this paper lies in strengthening the literature on the subject, while the managerial interest lies in identifying apparent gaps in the ICS to assist managers in their decision making.</p> <p>Our aim is to examine the contribution of internal audit to the effectiveness and efficiency of the internal control system. Our study is based on Moroccan banks. The interest of this report is therefore an exploration of the ICS of the selected banks.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong>M4</p> <p><strong>Paper type : </strong>Empirical research</p> zouhair ZARHLOUL, Sarra MRANI ZENTAR Copyright (c) Thu, 31 Mar 2022 14:08:51 +0000 What customs measures to take in response to the health crisis in morocco? <p>In 2020, the whole world was hit by an epidemic, a year during which economic activity decreased sharply and even froze completely for several sectors.</p> <p>Faced with this unprecedented situation and in order to accompany the companies that very quickly found themselves in difficulty, Moroccan Customs was obliged on the one hand to take several exceptional measures to relieve their cash flow and on the other hand to help the recovery of the national economic activity by preserving the state's revenues.</p> <p>By examining the impact of the covid-19 pandemic on Moroccan companies in terms of customs taxation, the objective of this article is to analyse the role of customs tax policy in responding to the coronavirus crisis. It is approached by measuring the impact of the quality of the tax breaks, adopted by the Moroccan customs, in response to this crisis on the expectations of economic operators.</p> <p>To this end, a quantitative study is conducted among 20 freight forwarders and 20 companies that have benefited from these reliefs. The data collection method adopted is the questionnaire. Based on different types of questions from the literature review. We encountered difficulties with some operators who were reluctant to fill in the questionnaire, which did not allow us to achieve our objective of collecting a maximum number of responses.</p> <p>According to the results obtained, the operators interviewed are aware of the importance of these facilities on their treasuries.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>H2</p> <p><strong>Paper type: </strong>Empirical Research.</p> Imane SDAIRI, Mustapha CHAMI Copyright (c) 2022 Imane SDAIRI, Mustapha CHAMI Thu, 31 Mar 2022 14:15:07 +0000 The new public management in the Moroccan administration: true or false institutional change <p>The role of institutions for good performance has been the subject of several works which have shown the direct relationship between good institutions and economic growth. It is with this in mind that New Public Management has developed over the past decades as the new managerial trend in public affairs. This new management, inspired by the management of private organizations, calls for making performance the basis of public management. All over the world and particularly in developing countries, especially Morocco, adherence to the principles and practices of this new management has become a source of legitimacy for public organizations.</p> <p>The objective of the reforms inspired by this new management, from their first generations, is to produce a change in public organizations: a change in structures, organizational processes, behaviors, responsibilities and cultures and in the delivery of services.</p> <p>The question that arises then and after several years of experimentation and testing is whether this new management has produced a change in Moroccan public organizations.</p> <p>To answer this question, we conducted a survey of the administrations that participated in the foreshadowing waves of the new organic finance law under the 2015 finance law (whose are experimenting with several principles and tools of the new public management centered on results and performance), as well as with the support, control and audit entities of these administrations.</p> <p>The analysis of the data from this survey has confirmed to us that the adoption of reforms, even if they have performed well elsewhere, is not enough on its own to produce change in public administration.</p> <p><strong>&nbsp;</strong></p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification&nbsp;</strong>: H83, O43, D23.</p> <p><strong>Paper type&nbsp;</strong>: Empirical research.</p> Sanaa BAHA Copyright (c) 2022 Sanaa BAHA Thu, 31 Mar 2022 14:19:12 +0000 Gender stereotypes in Moroccan television advertising <p>Nowadays, it is vital to communicate about it one business. In fact, different means and tools are used by companies to transmit information to their targets. It has now become a certainty that the advertising remains the best way to transmit information. The aim of television advertising is to give the maximum amount of information in a short time and to achieve this, television advertising biases and stereotyped information.</p> <p>In Morocco, as elsewhere, advertising and stereotypes are usually linked, but the main victim is the woman who is overloaded with negative pictures, devaluing and degrading her values, especially with the television having a remarkable influence due to its dominant place in Moroccan homes. These stereotypes are involuntarily, constantly and systematically found in the creative process, but fortunately, the Moroccan advertising ecosystem is aware of this and is becoming sensitive to the values of parity and gender equality.</p> <p>The aim of our article is to discover the presence of gender stereotypes in Moroccan television advertising and how women manifest themselves in it. And to answer this, our literature review has affirmed that this effect is present and that Moroccan television advertisements tend to confine women to traditional roles. This redundancy of innovative ideas is a possibly unconscious move that reinforces the sexist stereotype. For our field study, we tried to understand all sides of gender stereotyping in television advertising and understand the source of this anomaly. Semi-directive interviews were conducted with 13 advertising actors, from the advertiser to the director and the creative staff. The struggle is on, but there is still a long way to go to eradicate negative stereotype against women. As a matter of fact, the analysis of this gratifying experience highlighted the fact that the consumer who wants change does not contribute, but biases the studies carried out by polling and opinion marketing companies. It was suggested that those in charge of market research should choose the target group carefully so as not to have distorted results. Moreover it was also suggested that creative and advertisers should be daring in order to propose novelty and marketing manager that should dare to be creative and different.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>M37</p> <p><strong>Paper type: </strong>Empirical research</p> Zoubida DRISSI KAÏTOUNI, Morad Copyright (c) 2022 Zoubida DRISSI KAÏTOUNI, Morad Thu, 31 Mar 2022 14:24:32 +0000 Embauche dans les entreprises malgaches : l’analyse des critères subjectifs priorisés par les recruteurs <p>Le recrutement regroupe un processus comprenant un ensemble d’étapes non négligeable afin de trouver le meilleur profil parmi un bon nombre de candidatures. Depuis la définition du besoin jusqu’à l’intégration du nouveau recru, chaque étape du processus se doit être objectivé pour limiter les risques d’erreur. Cependant, bien qu’une fiche de poste ait été établie au préalable, des critères de choix subjectifs submergent pendant la sélection. Mis à part les critères de performance recherchés chez un candidat, d’autres facteurs subjectifs influencent la décision des professionnels du métier. Ces critères subjectifs sont générés par des normes sociales propres à chaque recruteur. Elles peuvent provenir d’une similarité observateur-observé, de la norme d’internalité ou de l’appartenance à un groupe social, etc.&nbsp; Cet article hiérarchise les critères subjectifs émergents au moment du choix final d’un candidat à l’embauche grâce à une méthodologie d’analyse qualitative. Afin d’expliquer l’apparition de facteurs subjectifs difficilement admis dans la pratique, l’article s’appuie sur&nbsp; une étude comparative de la littérature traitant sur le sujet&nbsp; et le résultat de traitement des discours collectés auprès de divers professionnels en recrutement grâce à l’utilisation du logiciel Nvivo. Le résultat de traitement des données pointe la primauté du critère de l’apparence physique reflétant à première vue la personnalité d’un candidat puisqu’il est considéré par tous comme étant le premier indicateur de jugement social dans les premières secondes suivant la première rencontre entre le recruteur et le candidat. C’est ce phénomène qu’on entend par effet de halo. Mais bien qu’il soit aperçu comme un biais cognitif, il occupe une place considérable lors de la sélection du meilleur candidat à l’embauche.</p> <p><strong>&nbsp;</strong></p> <p><strong>Classification JEL: </strong>M51&nbsp;</p> <p><strong>Type de l’article : </strong>Recherche appliquée</p> Manoa Harivony ANDRIANANTENAINA, Tojohanitriniala Damase RAZAFIMANANTSOA Copyright (c) 2022 Manoa Harivony ANDRIANANTENAINA, Tojohanitriniala Damase RAZAFIMANANTSOA Thu, 31 Mar 2022 14:30:28 +0000 Central Bank independence and inflation targeting: The case of Bank Al-Maghrib <p>Inflation targeting is the most recent framework for monetary policy in the world. It is now widely chosen by developed countries as well as by emerging countries. In this logic, that the will of the Moroccan monetary authorities to adopt this new regime fits. However, it has been shown in the literature that adopting this new framework of logic monetary policy requires meeting a set of economic, technical and institutional prerequisites.</p> <p>In this article, we study the institutional prerequisites in the Moroccan context. In particular, it is a question of measuring the degree of readiness of the Moroccan central bank to target inflation. To achieve this, we measured the degree of independence of the central bank from the government. This independence is generally measured in both legal and real dimensions. The first is to assess the statutes of the central bank to give it a score in this direction. As for real independence, it is measured by the turnover rate of the governors appointed to head the issuing institute, and their political vulnerability when governments change.</p> <p>At the end of this study, we noted that the two calculated indices, which allow us to consider that the degree of real and legal independence of the Moroccan central bank, is positioned today in an acceptable level, which will be able to consolidate the chances. The success of the Moroccan monetary authorities as part of their transition project towards inflation targeting.</p> <p><strong>&nbsp;</strong></p> <p>&nbsp;</p> <p><strong>JEL Classification </strong>: E52 E58</p> <p><strong>Paper type&nbsp;: </strong>Empirical research</p> Abdessamad ZAKANI Copyright (c) 2022 Abdessamad ZAKANI Thu, 31 Mar 2022 14:34:59 +0000 Factors negatively affecting the relationship between internal auditors and managers <p>Due to the financial disasters experienced by several companies around the world, the internal audit function has become an essential tool for the identification of fraud and corruption and also contributes to improving governance, risk management, compliance, resource conservation and verification, data analysis for the entire organization as well as the creation of added value. Except that the success of this function depends essentially on the collaboration of the managers and all the staff of the company in question. However, tensions can sometimes arise between internal auditors and managers. Thus, the purpose of this study is to test the validity of certain factors (from the literature) negatively influencing the relationship between managers and internal auditors on Moroccan territory. In particular: The dissatisfaction of internal auditors with their salary - The workload of internal auditors - The poor rating of an audited entity - The risks accepted by managers - The dissatisfaction of managers with the final result of the internal audit report - Access of internal auditors to direct communication with the audit committee. To do this, we conducted a survey based on the distribution of 40 questionnaires on internal audit practitioners, 7 of which were ignored, and 33 questionnaires duly completed with a response rate of 82.5%. The data collected was exploited by the method of multiple regression in order to examine the factors that can influence the relationship between internal auditors and managers. The results of this study showed that certain factors, including the high workload of internal auditors, the poor rating of an audited entity and the overall dissatisfaction of managers with the final result of the audit report internal audit, can create tension between internal auditors and managers. While the remaining factors, namely: Internal auditors' dissatisfaction with their salary, risks accepted by management, and internal auditors' access to direct communication with the audit committee do not have a negative influence on the relationship between internal auditors and managers.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification : </strong>H83, M42, M49, H11, H12, L14</p> <p><strong>Paper type: </strong>Empirical research.</p> Youssef BOULBAROUD, Mohamed Yassine EL HADDAD Copyright (c) 2022 Youssef BOULBAROUD, Mohamed Yassine EL HADDAD Thu, 31 Mar 2022 14:40:48 +0000 Generic drugs: A qualitative study with community pharmacists in the Rabat-Salé-Kénitra region <p>A generic drug is a medicinal product that has the same qualitative and quantitative composition of active ingredients and the same pharmaceutical form as the originator pharmaceutical product. In Morocco, their growth is not as rapid as expected and the pharmacist’s engagement is essential to the development of these drugs. The purpose of this study was to gain a better understanding of the opinions and practices of pharmacists. Structured interviews were conducted with 16 pharmacists from the Rabat- Salé - Kénitra region. Several points were addressed in the interviews: general opinion on generic drugs, the practices of pharmacists towards the generic drugs, the result analysis of this qualitative study was done using in vivo. Most pharmacist participants believe that generic drugs do not have the same quality, efficacy and safety as the originator of pharmaceutical products.</p> <p>There is a lack of transparency on the part of health authorities and laboratories regarding bioequivalence and drug control. Many pharmacists notice that the existing information about the generic drug is unsatisfactory. The identification of multiple obstacles to the supply of generic drugs makes it possible to suggest various solutions: generic drugs training for pharmacists, the obligation to carry out bioequivalence studies, the substitution right.<strong> &nbsp;</strong></p> <p><strong>&nbsp;</strong></p> <p>&nbsp;</p> <p><strong>Classification JEL: </strong>M31</p> <p><strong>Paper type: </strong>Empirical research</p> Sara BOUDINA, Amina AOMARI Copyright (c) 2022 Sara BOUDINA, Amina AOMARI Thu, 31 Mar 2022 14:45:39 +0000 Chronic obstructive pulmonary disease and tobacco: A cost analysis <p>Tobacco-relateddiseasesmainly affect the respiratory system, the first system in contact with the air that is inhaled, making tobacco a leading cause of death and illness, closely linked to the chronic obstructive pulmonary disease of which it is responsible in 90% of cases. It isalsoresponsible for the impoverishment of the population, given the heavyeconomicburdenit imposes. The purpose of the studyisto estimate the economic cost of chronic obstructive pulmonary disease attributable to smoking in 2018, whether it is related to the medical management of the disease, or the loss of productivity following the disease itself or a premature death.</p> <p>An approach based on the specific cost to COPD caused by smoking for 62 patients hospitalized in the Department of Pneumology at Moulay Youssef Hospital in Rabat. The direct medical costs are obtained according to the stay, acts and examinations specific to the university hospital center. Drugs not available at this hospital and purchased externally are calculated at the market price of private pharmacies. For non-medical costs, in our case the transport of patients was estimated by using the prices of the means of transport existing in their most used places of residence. Regarding indirect costs related to loss of income following illness, it’s calculated on the basis of the average annual income of the individual and the period of his disability.Another indirect cost, that of the loss of productivity following the premature death of the patient, this one is calculated at the base of the years of life lost compared to the life expectancy in Morocco and the lost income during these years, discounted at a rate of 3%.</p> <p>Since the specificity of the study is smoking, an attributable fraction was used in the direct and indirect costs calculations, which was derived from Tachfouti’s 2014 study of the estimated mortality attributed to tobacco in Morocco, based on the 2006 Marta study on the prevalence of smoking and the relative risk associated with the quantities of tobacco smoked.</p> <p>After collecting essential data for our study and using the previous calculation methods, we were able to estimate the following costs. The overall economic cost of COPD attributable to smoking in 2018 is 1&nbsp;784&nbsp;503,74 MAD (168&nbsp;667,65 Euro).The direct cost of COPD attributable to smoking is: 389 973,33 MAD ( 36 859,48 Euro), and the indirect cost of COPD attributable to smoking is: 1&nbsp;394&nbsp;530,41&nbsp; MAD&nbsp; ( 131808,17 Euro). Indirect cost accounts 78 % of the economic cost of COPD linked to tobacco.</p> <p>In the case of conflict between health and economy, this type of study helps guide public decision-makers in the formulation of health system strategies and&nbsp; policies, in a context of prevention and control of&nbsp; non-transmissible diseases. Our study addresses a preventable chronic disease by acting on the major risk factor that is tobacco, all with the aim of controlling expenditure in the face of limited financial resources, and avoiding economic losses for society, the system of health and the country’s economy.&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification : </strong>G21</p> <p><strong>Paper type : </strong>Empirical research</p> Samia TNATAN, Chakib BOUKHALFA Copyright (c) 2022 Samia TNATAN, Chakib BOUKHALFA Thu, 31 Mar 2022 00:00:00 +0000 Explanatory factors for the information systems continuance: case of management software in Morocco <p>Continuation of use is a positive attitude adopted by the end user and reflects the performance of information systems in its long-term relationship with the latter. Therefore, this continuation represents a relevant substitute for the success of IS, which is one of the main currents of research on the performance of information systems. Indeed, this success with the user also allows these systems to play their role as an interface between the management and executive bodies within the company. Thus, a good measurement of this component is essential in order to judge the overall performance of IS. Based on a theoretical model developed during a literature review preceding this work (Khadir, 2021), we conducted an empirical study to verify the validity of the causal relationships between the explanatory factors for the continuation of use, on the one hand, and intend to continue to use on the other side. In this context, a questionnaire survey was conducted by interviewing 220 users of highly recommended management software in Morocco. The ultimate objective of this work is to contribute to the measurement of the continuation of information systems and to provide the various stakeholders with elements of knowledge likely to enlighten them as to the factors which would favor the sustainable use of said systems. To do this, we have tried to ensure that our measurement model is easily applied in the real context of the use of information systems.</p> <p>&nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>J</strong><strong>EL Classification: M150</strong></p> <p><strong>Paper type: Empirical research</strong></p> Mohammed KHADIR Copyright (c) 2022 Mohammed KHADIR Thu, 31 Mar 2022 14:55:34 +0000 Evaluation of the satisfaction of users of e-services of the Moroccan tax administration during the Covid-19 pandemic <p>Technology has been evolving for a long time, but the acceleration of progress has become very significant in recent years. Indeed, with the rise in the use of new technologies, organizations in general and public administrations in particular are required to adapt to these new trends, through the implementation of a digital strategy allowing the transformation of traditional and inefficient procedures, towards the digitization of tasks and the digitization of all administrative procedures, which reduces transport costs and the speed of execution of tasks. This article revolves around the concept of digital transformation and e-government during the Covid-19 pandemic. It represents a literature review as well as an empirical study on e-administration, which is considered today as a fundamental tool for the economic and social development of countries. To this end, to properly conduct our study, we distributed 107 questionnaires to a carefully selected sample, based on their relationship with the tax administration. In terms of the results obtained, it was found that the electronic services offered by the tax administration allow partial satisfaction of the users questioned. However, two main aspects still need to be improved, in particular the quality of the exchange of information and the processing of complaints by the tax administration.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>JEL Classification : </strong>O33, L2, H83.</p> <p><strong>Paper type: </strong>Empirical research</p> Otmane AKHANNICH, Fatiha BENAMAR, Imad AIT LHASSAN, Oumayma BEDRAOUI Copyright (c) 2022 Otmane AKHANNICH, Fatiha BENAMAR, Imad AIT LHASSAN, Oumayma BEDRAOUI Thu, 31 Mar 2022 15:00:31 +0000 Financial Indicators, Stock Prices and Returns: Evidence from Banks Listed on the Stock Exchange of an Emerging Market <p>The Moroccan banking sector has undergone major developments following the structural reforms undertaken and which have enabled it to comply with international standards. The implementation of internal control, compliance and risk management systems has significantly improved its profitability. Indeed, Moroccan banks are subject to restrictive regulations and close supervision by the Moroccan Central Bank, Bank Al-Maghrib, to monitor and regulate their growth and exposure to the various risks inherent to their activities, including credit, liquidity, market and operational risks. Among the banks in the sector, six are listed on the Casablanca Stock Exchange, including market-leading banks such as Attijari Wafa bank, Bank of Africa and Banque Centrale Populaire. &nbsp;</p> <p>On the other hand, the Moroccan stock market attracts several local and foreign investors who would be interested in whether the price of shares and their evolution can be predicted by banking and financial ratios. &nbsp;</p> <p>The main objective of this study is to analyze the relationship between share prices and returns of listed banks and indicators of solvency, liquidity, asset quality and profitability. This article runs a multiple linear regression in a panel data analysis using the financial data of commercial banks listed on the Casablanca Stock Exchange from 2011 to 2020.</p> <p>In an efficient financial market, stock prices and their fluctuations should reflect the profitability of banks, alongside with their liquidity, and their solvency, which is a guarantee of the resilience of the banking during financial and economic crises.</p> <p>The results show that stock prices are not impacted by the level of liquidity, asset quality and profitability indicators, raising a much-debated question about the efficiency of the Moroccan stock market. On the other hand, other tests show that the level of profitability of banks, measured by ROA, is linked to the above-mentioned indicators.</p> <p>&nbsp;</p> <p><strong>JEL Classification : </strong>G21</p> <p><strong>Paper type : </strong>Empirical research</p> Jihane AAYALE, Meriem SEFFAR, James KOUTENE Copyright (c) 2022 Jihane AAYALE, Meriem SEFFAR, James KOUTENE Thu, 31 Mar 2022 15:06:48 +0000 Performance factors of Industrial Acceleration Zones in Morocco: Case of the Tanger Automotive City <p>Export processing zones (EPZs) are defined as: "industrial zones offering special advantages, designed to attract foreign investors and in which imported products undergo processing before being exported or re-exported" (ILO, 2014).</p> <p>For several years, this concept has raised several debates about its interest, its contribution and its regulation. At the WTO level, the debate took place when developing countries demanded that the subsidy measures linked to these zones be maintained as extensions, and also, opinions were divergent as to their role in the economic recovery of countries seeking development.</p> <p>In order to attract FDI to the established free zones, several countries have put in place attractiveness strategies that have relied on specific benefits and measures. However, although the host country seeks to satisfy the needs of multinational firms through success factors, their attractiveness will depend on the perception of the latter. Indeed, firms located in EPZs evaluate and judge the incentives, hence the interest in highlighting the attractiveness of incentives in EPZs. In this sense, the objective of this article is to carry out an operational study on the incentive framework common to Moroccan industrial acceleration zones (IAZs), which will make it possible to detect the assets that attract foreign investors to these zones, by taking a case of industrial acceleration zones (IAZs).</p> <p>In particular, we will look at the main factors that make Morocco's Industrial Acceleration Zone Tanger Automotive City attractive (TAC). The study is exploratory in nature, and the results collected will be processed in such a way as to gather the opinions of the companies installed around the main factors of satisfaction. It will allow us to identify them, classify them and consequently, we will try to explain them.</p> <p>The originality of this work comes from the fact that it can serve as a basis for other exploratory work on the expectations of foreign investors in Moroccan ZAIs.</p> <p><strong>&nbsp;</strong></p> <p><strong>JEL Classification: </strong>R5</p> <p><strong>Paper type: </strong>Empirical research</p> Lahsen ZERRAF, Khalid RGUIBI Copyright (c) 2022 Lahsen ZERRAF, Khalid RGUIBI Thu, 31 Mar 2022 15:10:46 +0000 Construction of a scale for measuring business creation intention within the framework of the Moroccan entrepreneur's social network: Application of Churchill's paradigm <p>The literature points to the importance of entrepreneurial intention to achieve entrepreneurial success without explaining the passage from intention to the act of entrepreneurship as well as the role of social relations and the entrepreneur's network to succeed in this passage. This article aims to develop a scale for measuring entrepreneurial intention that leads to the effective creation of the project through the experience of creating a business by Moroccan entrepreneurs, taking into account their social networks.</p> <p>The challenge of our research is initially purely descriptive, and the objective of this research is to develop a scale for measuring entrepreneurial intention.</p> <p>Referring to the classification developed by Mbengue and Vandangeon-Derumez, (1999), our study is positioned in a hypothetico-inductive approach.</p> <p>The lack of existing measurement scales in the context of the future entrepreneur's social networks prompted us to go into the field by setting up an exploratory qualitative study on the theme of entrepreneurial intention and the social network.</p> <p>We sought to understand to what extent the notion of entrepreneurial intention could apply to the social field, with this in mind, we decided to conduct a series of semi-structured exploratory interviews on the theme of entrepreneurial intention and the entrepreneur's social network. Interviews with 18 heads of small Moroccan businesses with whom we were able to record interviews, to transcribe them and analyze the content in order to extract the items to measure the entrepreneurial intention which leads to effective creation in a social approach. Then we proceeded to the analysis of the content of the verbatim transcribed following the interviews to generate the items and proceed to their purification through a quantitative survey. The second quantitative survey was conducted among 107 Moroccan entrepreneurs from all regions of Morocco who have already experienced the transition from the phase of entrepreneurial intention to the actual creation of the project.</p> <p>This second quantitative survey is of an exploratory nature, it aims to purify the scale of measurement. The third survey was conducted among 170 Moroccan entrepreneurs in order to finalize the research instrument.</p> <p>The approach adopted is based on the steps recommended by the paradigm of</p> <p>Churchill. It aims to integrate the knowledge of measurement theory as well as the appropriate techniques to improve it into a systematic procedure.</p> <p>&nbsp;</p> <p><strong>JEL Rating: A14</strong></p> <p><strong>Type of paper: Empirical research</strong></p> Oumaima SLAOUI, Ahlam QAFAS, Khalifa AHSINA Copyright (c) 2022 Oumaima SLAOUI, Ahlam QAFAS, Khalifa AHSINA Thu, 31 Mar 2022 15:16:36 +0000