The effects of the global financial crisis on the Moroccan economy

مقدم أطروحة جامعية

Lamrani, Lamyai

مشرف أطروحة جامعية

Baijou, Ahmad

الجامعة

جامعة الأخوين

الكلية

كلية إدارة الأعمال

دولة الجامعة

المغرب

الدرجة العلمية

ماجستير

تاريخ الدرجة العلمية

2010

الملخص الإنجليزي

This paper documents the effect of the financial crisis on the Moroccan economy through the firms listed in the Casablanca Stock Exchange.

The EPS of the different listed firms composing our sample has been used as a benchmark of whether or not the crisis has affected the financial performance of these firms and hence the sectors they are representing.

Two valuable models have been implemented to test this hypothesis on the basis of the above information.

Multiple regression analysis was useful in studying the effect that the different categories of ratios as well as industries have on the firms’ returns.

The first model , showed that four sectors were the most affected by the crisis: Telecommunication, Distribution, Utilities, and real estate sector.

Whereas the second model singled out the services sector as the most affected one.

Maroc Telecom is the firm that was the most affected in both models and under both sectors Telecommunication, and services since it is Morocco’s largest capitalization.

In addition, its international involvement - being part of the multinational group Vivendi and operating in both Africa and Europe- has accelerated the importation process of the crisis and hence the lower performance of the sector.

For the ratios, leverage seems to be the most affected one by the crisis since investors are not willing to invest in highly levered firms because it represents additional risks and therefore affects negatively the firms EPS

التخصصات الرئيسية

إدارة الأعمال

عدد الصفحات

42

قائمة المحتويات

• APA
• MLA
• AMA

لغة النص

الإنجليزية

نوع البيانات

رسائل جامعية

رقم السجل

BIM-628502