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This paper aims to develop an economic approach that enables electricity generation companies to analyze and quantify the economic gains of complicated activities particularly the safety of hydroelectric dams. The method is based on calculating the costs avoided due to the implementation of safety mechanism. The specification of this method is founded on a solid literature regarding the economic assessment of the monetary value of complicated services. The results of this paper highlight the importance and the significant influence of safety activities in reducing costs, reaching approximately 26 million Euros. The results also shed light on the importance of the safety device to fight fatal accidents and ensure public security.

This paper explores established models of the consumer decision-making process, originated from the 1960s, and assesses the viewpoints of Nicosia, Howard and Sheth, Engel, Kollat and Blackwell, and Fishbein and Ajzen's theories of reasoned and planned behavior. Subsequently, it demonstrates their significance and linkages with current marketing practices, encompassing the effects associated with digitalization and the augmentation of consumer requirements. Finally, the paper puts forth a theoretical model for the decision-making process. These models provide diverse perspectives on how consumer attitudes, purchasing decisions, and interactions with marketing stimuli are formed. However, it is emphasized that these models must continually evolve to remain relevant in an ever-changing environment, as they are critical in comprehending consumer behavior and developing marketing strategies.

This paper conducts a comprehensive review of various estimates for natural gas demand responses. We consider a stream of empirical studies that have been conducted after 1950. The purpose of this paper is to provide the full image, synthesize and analyze the published studies in this field from the first experimental study to the beginning of 2019. In this study, we discuss the methods and techniques used, the application area, the variables, and data sources and data size. Most studies have investigated price and income elasticities; many fewer have focused upon demographic variables. This work will be of significant importance for future researchers aiming to analyze the demand for natural gas.

The purpose of this paper is to investigate empirically the role of corporate social responsibility engagement on stock returns during the COVID-19 crisis in the case of a sample of Moroccan-listed companies. The authors use a difference-in-difference (DiD) regression estimated on a panel dataset of a sample of 23 Moroccan listed companies for the period spanning from March 2019 to March 2021. We identified the connection between CSR activities and financial returns by comparing the monthly stock returns of the treatment and the control groups. Empirical results reveal that the pandemic-induced decrease in stock returns is stronger for firms with CSR activities. It means that engaging in CSR activities does not immunize Moroccan firms during the pandemic. Our findings show that Moroccan’s stock market is unable to positively value CSR activities. The results indicate that agency problems lead Moroccan investors to overinvest in costly CSR activities, which reduce the value of the firms in times of the COVID crisis and delay their recovery from it. To the best of our knowledge, this study is the first to investigate the relationship between CSR activities and the resilience of Moroccan companies. Also, this study is distinguished by using the DiD method and by exploiting data from the Eikon Refinitiv database.

Many entrepreneurial and other collective initiatives create social impact in addition to economic gains. In this paper, we will discuss these initiatives with a focus on the financing ecosystem that is crucial to these organizations. We first discuss the social and solidarity economy before talking about entrepreneurship and social enterprises. We focus next on cooperatives, which are very important in our context for the impact they contribute to achieve. The topic of the social and solidarity economy (SSE) in Morocco garners extensive attention within economic, political, and academic circles. Given the unique Moroccan backdrop, regional advancements, demographic dynamics, and economic traits, it accentuates considerable social issues and amplifies the significance of SSE entities, especially concerning their target audience. The SSE landscape, comprising a diverse array of organizations, has continually adapted and expanded since the country gained independence to address the distinct features of its environment.

In this research paper, we used the VECM framework to assess Moroccan central bank’s ability to target inflation. We also explored the possibility of reconciling between inflation control and growth stimulation through an impulse response analysis. Our empirical results showed that interest rate adjustments as monetary policy measure could be a relevant choice in a context of moderate and short-lived inflation since it provides a wide margin for reconciling price stability and economic growth. In times of high and persistent inflation, the central bank should prioritize inflation control through a permanent decrease in its money supply.

Economic growth’s theories suggest that a developed financial sector can promote the economy growth. However, the ability of financial sector to boost the economic growth depends on its ability to finance the economy. This paper investigates the relationship between Morocco's economic growth and financial development (FD). We base our study on the crucial role of banking sector in economic growth in developing countries through their financial intermediation. In order, to verify this relationship the vector error correction model (VECM) is used on secondary data: real GDP per capita (GDP) and a set of explanatory variables representing the financial development sector, specifically the ratio of private sector credit (CPS) and control variables including the share of government consumption (PC), the real interest rate (IR), trade openness (TO), and the inflation rate (INF). Our secondary data comes from the Central Bank of Morocco database and covers 56 quarters from 2007Q1 to 2020Q4. The findings support the long- and short-term benefits of financial sector development for economic growth in Morocco.

Composite Index (CI) combines measures of indicators on economic, social, environmental variables, government initiatives, wellbeing of health, psychological, satisfaction of basic needs, social/cultural, etc. However, existing measures of CIs suffer from limitations. The paper proposes CI measure as geometric mean (GM), which avoids scaling and choosing of weights. It helps in better comparison of countries across time and space and satisfies desired properties like monotonically increasing continuous function, constant elasticity, identification of key areas, reduction of level of substitutability, formation of chain indices to show growth of CI of a country, and is less affected by outliers. The index with wide applicability can be used for ranking, classification of countries and facilitates computation of mean and variance of a sample of countries. In addition, the index satisfies time-reversal test, helps to identify the critical areas and find contribution of the component indicators, estimation of population parameters and testing statistical hypothesis. Separate indices for domains can be constructed by considering indicators relevant to a domain. Thus, it is an improvement over the existing methods. Future studies suggested.

e-participation refers to participation of citizens in the governance process through ICTs. Importance of e-participation is growing with rapid technological changes and increasing use of Information and Communication Technology (ICT), overcoming limitations of physical participations in terms of time and distance. Ignoring the issues relating to augmentation of dimensions and indicators, the paper describes methodological shortcomings of existing measures of e-participation and suggests a method of comprehensive e-participation index ( covering both supply and demand sides. CEPI involves transformation of each sub-indices and component indices to normally distributed scores. Normality enables meaningful arithmetic aggregation of scores of sub-indices, dimensions and CEPI as sum of dimension scores. The proposed CEPI avoids scaling and satisfies desired properties enabling meaningful comparisons, better ranking, classification of countries and also facilitates testing hypothesis of equality of CEPI means for two countries, assessment of progress and testing significance of growth registered by a country or a group of countries. Elasticity of dimension as ratio of change in CEPI due to unit change in the dimension can be used to rank the dimensions. Policy makers and researchers may take advantages of the proposed method to find relationship between supply and demand sides of e-participation.

Governance stands as a multifaceted area of interest, attracting attention in both political and academic realms on a global scale. Its significance, particularly in economics and management, has been increasingly emphasized due to a series of scandals that have resonated across various contexts, often highlighting common issues associated with power struggles and conflicting interests within organizations. The quest for effective governance demands the implementation of multiple control mechanisms to address and prevent power-related challenges within organizations. In this article, we focus on the governance of companies operating in the context of bancassurance. Indeed, bancassurance companies are of major importance to any economy, which explains the scope of our research that explores the rules and governance mechanisms governing this sector worldwide, as well as their manifestation in our research context. A comprehensive review of the Basel Committee on Banking Supervision forms an integral part of this discussion. This committee plays a central role in setting global banking standards and its governance structure. Notably, the article highlights Bank Al-Maghrib's adoption of Basel III provisions in the Moroccan context and underscores the significant role played by the Credit Institutions Rating Assistance System. Furthermore, the article delves into the pivotal role of the Insurance and Social Welfare Supervisory Authority within the insurance sector, emphasizing the intrinsic connection between solvency and governance. It explores the historical importance of Solvency I and its evolution towards Solvency II, with a focus on the impact of this directive on the European insurance industry. Finally, the paper thoroughly examines the strategic application of the risk-based solvency approach in Moroccan bancassurance, stressing its contribution to enhancing financial robustness and its tailored assessment within the national context.