The Specificities of Risk Management in the Public Establishments and Enterprises (PEEs) Sector in Morocco

Abstract

Risk management is increasingly recognized as a key component of organizational governance, including in the public sector where economic, regulatory, and institutional uncertainties directly affect performance and legitimacy. However, the academic literature on this topic remains limited, particularly with regard to Public Establishments and Enterprises (PEEs) in emerging countries. This article aims to analyze the specificities of risk management within Public Establishments and Enterprises (PEEs), highlighting the differences between three main categories: financial, commercial, and non-commercial entities. The central research question can be formulated as follows: what are the specific characteristics of risk management in Moroccan PEEs? To address this question, the study adopts a qualitative and interpretivist approach. A questionnaire combining both closed and open-ended questions was administered to twelve PEEs representing the three categories, and the data collected were analyzed using thematic content analysis inspired by Bardin (2011). The findings reveal a differentiated gradient of maturity. Financial PEEs appear to be the most advanced, characterized by robust and integrated systems, supported by a strict regulatory framework, highly qualified human resources, and strong institutionalization of the risk management function. Commercial PEEs occupy an intermediate position, showing signs of progressive professionalization and uneven appropriation of instruments, largely influenced by competitive and mimetic pressures. Non-commercial PEEs, however, represent the least mature category, with fragmented practices, symbolic instruments, and almost no integration of risk management into governance structures. Theoretically, the study confirms the relevance of a pluralistic analytical framework that combines agency theory, institutional theory, New Public Management, and the resource-based view. Practically, it suggests avenues to strengthen risk management in Moroccan PEEs, particularly through the development of a clearer normative framework, greater professionalization of internal actors, and enhanced integration of risk considerations into strategic decision-making processes.

Classification JEL : M19

Paper type: Empirical Research