Industry Concentration and Asset Quality as Determinate of Financial Performance: A Comparative Study of Indigenous and Foreign Owned Universal Banks

Boutti²,

Rodhain

2020

FMIR

The aim of this study is to evaluate the level of Sustainable Finance disclosure in Institutions and to analyze the relationship between Performativity of Responsible Management and Sustainable Finance. A Performativity of Sustainable Finance through the lens of Responsible Management is constructed. To verify the link between the impact of responsible strategies and structures on the implementation and deployment of Sustainable Finance for reducing CO2 emissions at the time of Institutions, the structural relationships in our model are run. Although several studies have investigated the Sustainable finance, the issue of adoption and performance through the prism Responsible Management remains open. This allowed us to conduct empirical research through a questionnaire involving key axes of our study. We targeted primarily a sample of 40 companies ELEC EXPO International Forum in Casablanca, Morocco, held from 04th to 07th October 2018. We review the carbon finance strategies, analyze its relationship with the structure of the compliance New Economic Regulations and ISO 26 000. Subsequently, we assess the validity of its performance and its adoption prism Responsible Management through a reflexive model. To achieve this, we tested the structural relationships in our model, as the reflective nature of our built and predictive vocation of our model led us to retain the method Partial Least Squares as part of the validation of our research model. Our choice of using the Partial Least Squares approach is justified by the fact that it can treat analyzes on samples of reduced size (<100 observations). Ultimately, some of the literature says that strategies of Sustainable Finance include three dimensions. Indeed, the results indicate two important pillars for the performance of the adoption of the Sustainable Finance for the Moroccan plan; Clean Development Mechanism strategy and structure of the compliance New Economic Regulations and ISO 26 000. We then discuss the theoretical and practical implications of this managerial discovery. Keywords: Sustainable Finance, Joint Implementation (JI), Clean Development mechanism (CDM), Emissions Permits Negotiable (PEN), Responsible Management.

Sustainable Finance at the time of Institutions : Performativity through the lens of Responsible Management in Morocco

Boutti²,

Rodhain

2020

FMIR

Carbon financial markets underlying climate risk management, pricing and forecasting: Fundamental analysis

Boutti²,

Oulfarsi

et al. 2020

FMIR

Climate Change (CC) is a major issue of our century. Controlling the constraints of Greenhouse Gas (GHG) emissions through transformation into opportunities, in an organization to increase industrial production, has become a necessity. The main reason for this adoption was the effectiveness of energy management and responsible linkages that are being developed to determine the issues and opportunities of carbon finance for organizations. Through analysis of the European Union Emissions Trading Scheme (EU ETS) and the Clean Development Mechanism (CDM), this article presents and demonstrates a variety of determinants of CO2 prices (EUA) to be used in econometric techniques. This paper details the main carbon price drivers related to institutional decisions, energy prices, and weather events. Our study focuses on price changes in the EUA, being the most liquid carbon asset. In this regard, we highlighted the daily spot price of the EUA to highlight the daily changes affecting this price, given the high volatility in this Carbon financial market. The treatments of the determinants of CO2 prices (EUA) can be used to analyze the evolving and expanding Carbon financial markets sphere. It features stylized facts about Carbon financial markets from an economics and management perspective, as well as covering key aspects of pricing strategies (institutional decisions, energy prices, and extreme weather events), risk, and portfolio management. Aimed at those with fundamental analysis, the CO2 prices within the framework of the EU ETS depend on several determinants. This paper constitutes an introduction to emission trading and an overview of the regulations governing Carbon financial markets. First, we detail the price changes in the EUA and primary energy prices. Second, we introduce the main characteristics of emissions trading, be it in terms of spatial and temporal limits, Clean Dark Spread, Clean Spark Spread, and Switch Price. Third, we provide a descriptive analysis of atmospheric variables, structural variations, and the Subprime crisis and their impacts on the price development of EU CO2 allowances. Keywords: Fundamental analysis, European Union Emissions Trading Scheme, Clean Development Mechanism (CDM), Determinants of CO2 prices (EUA), Climate risk management.

Carbon Financial Markets Underlying Climate Change Mitigation, Pricing and Challenges: Technical Analysis

Oulfarsi

Boutti

et al. 2021

FMIR

Climate Change (CC) is a major issue of our century. Controlling the constraints of Greenhouse Gas (GHG) emissions through transformation into opportunities, in an organization to increase industrial production, has become a necessity. The main reason for this adoption was the effectiveness of energy management and responsible linkages that are being developed to determine the issues and opportunities of carbon finance for organizations. Through analysis of the European Union Emissions Trading Scheme (EU ETS) and the Clean Development Mechanism (CDM), this article presents and determinate the variables that influence the performance of the strategies of EU ETS players via the EUA allowances. Our study focuses on price changes in the EUA, being the most liquid carbon asset. In this regard, we highlighted the daily spot price of the EUA to highlight the daily changes affecting this price, given the high volatility in this Carbon financial market. The treatments of the determinants of CO2 prices (EUA) can be used to analyze the evolving and expanding carbon financial markets sphere. It features stylized facts about carbon financial markets from an economics and management perspective, as well as covering key aspects of pricing strategies (institutional decisions, energy prices and extreme weather events), climate change mitigation. Aimed at those with technical analysis, the CO2 prices within the framework of the EU ETS depend on several determinants. This paper constitutes an introduction to emission trading and an overview of the regulations governing Carbon financial markets. First, we detail the price changes in the EUA and primary energy prices. Second, we introduce the main characteristics of emissions trading, be it in terms of spatial and temporal limits, Clean Dark Spread, Clean Spark Spread and Switch Price. Third, we provide a technical analysis of atmospheric variables, structural variations and the Sanitary COVID-19 crisis and their impacts in the price development of EU CO2 allowances and presnt after conclusion some implications for future.