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Analysis of the financing of Moroccan SMEs using the Moucharaka model: An optimised perspective on the divergence ratio
[Analyse du financement des PME marocaines à travers le modèle Moucharaka : Une perspective optimisée sur le ratio de divergence]

Author

Listed:
  • Abid Mustapha

    (LAREGMA - Laboratoire de Recherche en Economie, Gestion Management des affaires - FEG SETTAT - Faculté d’Économie et de Gestion de Settat)

  • Douari Aziz

    (LAREGMA - Laboratoire de Recherche en Economie, Gestion Management des affaires - FEG SETTAT - Faculté d’Économie et de Gestion de Settat)

Abstract

Small and Medium-sized Enterprises (SMEs) are an engine of economic growth in both developed and developing countries, but they often face financing difficulties due to the reluctance of traditional banks to grant them loans. For this reason, it is important to explore other sources of funding, such as participatory financing. This study, based on the financial data of 25 Moroccan SMEs between 2018 and 2022, compared the profit rate obtained through participatory financing (Moucharaka) with that obtained through a bank loan. The results showed that Moucharaka is an effective solution for improving the economic performance of Moroccan SMEs.

Suggested Citation

  • Abid Mustapha & Douari Aziz, 2023. "Analysis of the financing of Moroccan SMEs using the Moucharaka model: An optimised perspective on the divergence ratio [Analyse du financement des PME marocaines à travers le modèle Moucharaka : U," Post-Print hal-04209305, HAL.
    • Handle: RePEc:hal:journl:hal-04209305
    DOI: 10.5281/zenodo.8338191
    Note: View the original document on HAL open archive server: https://hal.science/hal-04209305
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