Gouvernance, Actionnariat salarié et Performance: Preuves du Contexte Bancaire Marocain

Maroine Ikhmim and Sara Elouadi
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Maroine Ikhmim: UH2C - Université Hassan II de Casablanca = University of Hassan II Casablanca = جامعة الحسن الثاني (ar)
Sara Elouadi: UH2C - Université Hassan II de Casablanca = University of Hassan II Casablanca = جامعة الحسن الثاني (ar)

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Abstract: This paper investigates the impact of employee share ownership and corporate governance quality on the performance of Moroccan banks over the 2014-2023 period. Using a fixed-effects panel model, the findings reveal that employee ownership has a positive and significant effect on profitability, especially when governance mechanisms are strong and transparent. Governance is found to play a dual role: a mediating role, by transmitting the effects of employee ownership to performance, and a moderating role, by strengthening this relationship according to the level of governance quality. In addition, capitalization, income diversification, and asset quality emerge as key drivers of profitability. The study highlights the complementarity between internal incentives and governance structures in fostering value creation within banks, while providing managerial and prudential insights for achieving sustainable performance in the Moroccan banking sector.

Keywords: Gouvernance; bancaire; -Actionnariat; salarié; -Performance; -Rentabilité; -Maroc; Banking; governance; -Employee; ownership; -Banking; performance; -Profitability; -Morocco (search for similar items in EconPapers)
Date: 2025-12-20
New Economics Papers: this item is included in nep-ara and nep-mac
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Published in CONFERENCE ICMDEM 25, Dec 2025, CASABLANCA, Maroc

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