‘Macro-finance determinants and the stock market development: evidence from Morocco’

Belcaid, Karim; Ghini, Ahmed El

doi:10.1080/17938120.2021.1898191

Cited by 8 publications

(2 citation statements)

References 49 publications

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“…Factor analysis is used to analyze financial indicators. Factor analysis principle is an analysis method that extracts a few principal components that can represent all variables from a number of interrelated variables, and evaluates the whole by scoring the principal components in each variable and comprehensive scores [1][2][3][4][5][6][7][8].…”

Section: Literature Reviewmentioning

confidence: 99%

Research on Sciplay Financial Performance Evaluation

Yuan¹

2022

FBEM

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This paper analyzes the financial indicators of listed companies by factor analysis. This paper collects the financial data of sciplay Company from 2018 to 2022, selects fourteen indicators that reflect the solvency, operating ability, profitability and development ability, and makes empirical analysis and comprehensive evaluation on the financial performance in recent years. The results show that there are risks in the financial operation of sciplay Company, a US stock company, and the development of various financial capabilities is relatively unbalanced.

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Section: Literature Reviewmentioning

confidence: 99%

Research on Sciplay Financial Performance Evaluation

Yuan¹

2022

FBEM

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“…In an increasingly liberalized context, the Moroccan financial and banking sector occupies a crucially important place in the Moroccan and African economies. The financial turmoil of 2008, accentuated by accelerated financial liberalization, revealed the importance of some macroeconomic and financial factors (liquidity, solvency, internal and external governance, type of shareholding, and prudential regulation) for the financial sector performance (Belcaid & El Ghini, 2021). Capital liberalization, board diversity, external expertise, and international regulation are essential factors that demonstrably play a determining role in the banking sector's development.…”

Section: Introductionmentioning

confidence: 99%

Determinants of Bank Profitability in the Context of Financial Liberalization: Evidence from Morocco

Belcaid

Al‐Faryan

2023

Business Perspectives and Research

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This article aims, in the context of financial liberalization, to examine the impact of several internal and external factors in relation to the profitability of banks listed on the Moroccan stock exchange. The study uses the panel data method on a sample of the six banks with the largest market shares over the 2010–2019 period to investigate the influence of ownership structure, bank governance, capital structure, prudential regulation, and also a macroeconomic variation on bank profitability. Accordingly, the empirical results indicate a negative relationship between concentration, foreign ownership, and bank profitability. Further, high capital structure ratios, especially solvency, liquidity, and capitalization ratios appear to have an undesirable effect on the performance of Moroccan banks. In contrast, the impact of domestic institutional ownership is positive, implying that profitability is more favored by domestic ownership than by foreign ownership. Our findings also highlight the importance of independent directors and board size. Therefore, liberalizing ownership and opening up the board to the expertise of outside directors is essential for the banking sector’s development. In terms of policy implications, central banks and regulators need to ensure that banks rigorously adhere to specified leverage and fixed capital adequacy ratios while ensuring optimal liberalization for bank performance.

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