Oubdi Lahsen - Academia.edu (original) (raw)

Papers by Oubdi Lahsen

La performance financière constitue un indicateur clé de la stabilité et de la solidité du secteu... more La performance financière constitue un indicateur clé de la stabilité et de la solidité du secteur bancaire. Cette recherche examine empiriquement l'effet des facteurs spécifiques à l'activité bancaire sur la performance financière des banques islamiques opérant dans 12 pays. En adoptant une approche quantitative justifiée par l'économétrie des données de panel pendant la période allant du dernier trimestre 2013 jusqu'au troisième trimestre 2019, les résultats mettent en évidence l'existence d'une relation très significative entre l'ensemble des variables explicatives et la variable dépendante (ROA). En effet, la performance financière des banques islamiques est corrélée positivement avec la taille de la banque et la liquidité alors qu'elle est influencée négativement par la capitalisation bancaire, la qualité des actifs et l'efficacité opérationnelle.

La création de liquidité bancaire est considérée dans la littérature de l'intermédiation fina... more La création de liquidité bancaire est considérée dans la littérature de l'intermédiation financière comme une raison d'être des banques. Ces dernières jouent un rôle important en fournissant la liquidité à travers le financement des actifs non liquides à long terme avec des passifs liquides à court terme. Dans le présent article, nous proposerons des mesures de création de liquidité bancaire en se basant sur l'approche de Berger & Bouwman (2009) et en utilisant les données annuelles des bilans et hors bilan des banques marocaines durant la période 2008-2017. L'objectif est d'étudier combien de liquidité a été créée par le secteur bancaire marocain et comment celle-ci a varié dans le temps. Nous tenterons aussi d'analyser cette dernière par taille des banques et par leur type d'actionnariat. Les résultats trouvés montrent que le secteur bancaire marocain a créé 489,63 milliards de MAD à la fin de 2017 en constante augmentation portée principalement par les...

This research focuses on the role of loyalty by products and banking services in maintaining the ... more This research focuses on the role of loyalty by products and banking services in maintaining the relationship between the bank and its "SMBs" clients. The study was conducted with a sample of eighty-two SMBs operating in various fields of activity in Morocco's Souss Massa region. The results show the importance of loyalty by banking services to guarantee a sustainable relationship and commercial performance. It seems that without service improvement, there will be no perennial relationship between banks and its "SMBs" client. The bank must pay particular attention to reception, to pick up charge, to advice quality and to reactivity.

As the turmoil from the 2007-2008 financial crisis began to settle down, banks and capital market... more As the turmoil from the 2007-2008 financial crisis began to settle down, banks and capital markets recognized the significance of liquidity risk management. This fact became obvious since poor liquidity management can reach far beyond the circle of financial markets the entire economic sphere. In times of crisis, assets become more difficult to exchange in financial markets. Thus, market liquidity risk is defined as the difficulty or cost of exchanging assets in crises. Literature has already proposed several models to include liquidity risk in the standard Value-at-Risk framework. This paper aims essentially to extend this framework to the Moroccan Stock Exchange, by using a stock sample of 5 years, to measure the Liquidity adjusted VaR (LVaR) through (Bangia et al. 1999) and (Ernst et al. 2008) models based on estimated bid-ask spread using (Roll 1984) and (Corwin 2010) models.The results show that (Corwin 2010) and (Ernst et al. 2008) models provide respectively more accurate res...

Sustainability & Economics eJournal, 2018

The majority of Muslim countries face increasing pressure on their budget, which pushes to more p... more The majority of Muslim countries face increasing pressure on their budget, which pushes to more public spending. Eventually, the main victim of this situation will be the welfare of Muslim communities. Despite Islam does not tolerate negligence regarding the importance of State as major player in preserving the welfare of Muslim communities, it offers a third option to support public effort through the institution of Waqf. Indeed, this institution has played a crucial role all along Muslim civilization and it is invited to more innovation to answer to today’s challenges. Sukuk-Waqf can be seen as the perfect sustainable financing instrument offered by Islam to help sustain public spending by the people and for the people. This paper will try to examine the concept of Waqf, cash Waqf and Sukuk Waqf is Islam and their evolution during Muslim civilization. Finally, it will go through modern attempts to implement this model that can answer the need for financing to support public effort...

Halal branding industry and the Islamic finance have grown in parallel without implementing adequ... more Halal branding industry and the Islamic finance have grown in parallel without implementing adequate synergies. Both industries have advanced especially since the 60s of the 20th century, and Malaysia is probably the country of reference for the support received from the national and local authorities since its inception (Muhamed & Ramli, 2016). Since the development of the Halal industry and Halal tourism is at an early stage, there is variation in opinion on Spanish market and revenue sizing, as well as different perspectives on the activities of existing players in these fields. This study followed the sequence of steps that should be performed in developing measures of constructs. The measurement was tested and found to be both reliable and valid. However, although Muslims make up one of the largest tourist markets in the world, perceived value of tourism offering oriented toward this market has not been clearly defined. Our results show how the culture has a direct moderating eff...

Analysis of the Financial Behavior Characteristics of the Entrepreneurship of Moroccan Smes Lahse... more Analysis of the Financial Behavior Characteristics of the Entrepreneurship of Moroccan Smes Lahsen OUBDI Ibn Zohr university, l.oubdi@uiz.ac.ma ABSTRACT Aware of the undeniable role of SMEs in economic development, the Moroccan government became the protagonist in the 1990s of numerous initiatives aimed at introducing financing procedures for this category of companies. Overall, the results of these measures remain mixed. The aim of this Communication is to identify existing financing practices in Moroccan SMEs and to propose an explanatory diagram of their financing behavior. To do this we carried out an investigation after 50 SMEs concentrated on the Sale-Casablanca axis. The lack of long resources is a recurring problem for Moroccan companies, which contributes to the obstacles to the development of entrepreneurship and to the creation of a company. This is one of the weaknesses of the Moroccan financing system, which has tolerated bank financing in the form of short-term borrowi...

Journal of Financial Risk Management, 2017

This article aims to compare the calculated results of the structural approach (Internal Ratings-... more This article aims to compare the calculated results of the structural approach (Internal Ratings-Based IRB) and the discriminant analysis (Z-score of Altman, 1968), based on data from companies listed on the BVC for the period from 02 January 2014 to December 31, 2014. The structural approach is directly linked to the economic reality of the company; the default takes place as soon as the market value of these assets falls below a certain threshold. The major constraint for this approach is the determination of the probabilities of default. This situation is overcome by using the Black & Scholes (1973) model, based on Monte Carlo simulations. While the Z-score method is a financial analysis technique of business failure predictions, which is based on financial and economic ratios.

European Scientific Journal ESJ

This study empirically examines the effects of bank-specific characteristics, bank governance, fi... more This study empirically examines the effects of bank-specific characteristics, bank governance, financial market structure, and macroeconomic conditions on Moroccan banks' performance. Moroccan banks' performance is measured by return on assets (ROA) and return on equity (ROE). For this aim, panel data method (fixed effects model) is applied to data which is obtained from a sample of 6 Moroccan banks' financial statements during the period 2010-2016. The findings show that only operating management efficiency represented by the cost-to-income ratio (COST) is highly significant and negatively related to bank's performance. Also, the results indicate that bank size (SIZE) is positively related to ROA and statistically significant. Nevertheless, the effects of the other variables are statistically insignificant. The findings suggest that future studies could be include more dependent and independent variables to explain Moroccan banks' performance.

En utilisant les données de l'enquête pour les entreprises de la région Souss-Massa de 2015, nous... more En utilisant les données de l'enquête pour les entreprises de la région Souss-Massa de 2015, nous étudions les motifs derrière le découragement des entreprises par rapport à la demande de crédit auprès des banques conventionnelles. Notre définition des entreprises découragées concerne les entreprises s'ils ne demandent pas de crédit bancaire alors qu'ils auraient demandé à ce que leur situation financière illustre.

La performance financière constitue un indicateur clé de la stabilité et de la solidité du secteu... more La performance financière constitue un indicateur clé de la stabilité et de la solidité du secteur bancaire. Cette recherche examine empiriquement l'effet des facteurs spécifiques à l'activité bancaire sur la performance financière des banques islamiques opérant dans 12 pays. En adoptant une approche quantitative justifiée par l'économétrie des données de panel pendant la période allant du dernier trimestre 2013 jusqu'au troisième trimestre 2019, les résultats mettent en évidence l'existence d'une relation très significative entre l'ensemble des variables explicatives et la variable dépendante (ROA). En effet, la performance financière des banques islamiques est corrélée positivement avec la taille de la banque et la liquidité alors qu'elle est influencée négativement par la capitalisation bancaire, la qualité des actifs et l'efficacité opérationnelle.

La création de liquidité bancaire est considérée dans la littérature de l'intermédiation fina... more La création de liquidité bancaire est considérée dans la littérature de l'intermédiation financière comme une raison d'être des banques. Ces dernières jouent un rôle important en fournissant la liquidité à travers le financement des actifs non liquides à long terme avec des passifs liquides à court terme. Dans le présent article, nous proposerons des mesures de création de liquidité bancaire en se basant sur l'approche de Berger & Bouwman (2009) et en utilisant les données annuelles des bilans et hors bilan des banques marocaines durant la période 2008-2017. L'objectif est d'étudier combien de liquidité a été créée par le secteur bancaire marocain et comment celle-ci a varié dans le temps. Nous tenterons aussi d'analyser cette dernière par taille des banques et par leur type d'actionnariat. Les résultats trouvés montrent que le secteur bancaire marocain a créé 489,63 milliards de MAD à la fin de 2017 en constante augmentation portée principalement par les...

This research focuses on the role of loyalty by products and banking services in maintaining the ... more This research focuses on the role of loyalty by products and banking services in maintaining the relationship between the bank and its "SMBs" clients. The study was conducted with a sample of eighty-two SMBs operating in various fields of activity in Morocco's Souss Massa region. The results show the importance of loyalty by banking services to guarantee a sustainable relationship and commercial performance. It seems that without service improvement, there will be no perennial relationship between banks and its "SMBs" client. The bank must pay particular attention to reception, to pick up charge, to advice quality and to reactivity.

As the turmoil from the 2007-2008 financial crisis began to settle down, banks and capital market... more As the turmoil from the 2007-2008 financial crisis began to settle down, banks and capital markets recognized the significance of liquidity risk management. This fact became obvious since poor liquidity management can reach far beyond the circle of financial markets the entire economic sphere. In times of crisis, assets become more difficult to exchange in financial markets. Thus, market liquidity risk is defined as the difficulty or cost of exchanging assets in crises. Literature has already proposed several models to include liquidity risk in the standard Value-at-Risk framework. This paper aims essentially to extend this framework to the Moroccan Stock Exchange, by using a stock sample of 5 years, to measure the Liquidity adjusted VaR (LVaR) through (Bangia et al. 1999) and (Ernst et al. 2008) models based on estimated bid-ask spread using (Roll 1984) and (Corwin 2010) models.The results show that (Corwin 2010) and (Ernst et al. 2008) models provide respectively more accurate res...

Sustainability & Economics eJournal, 2018

The majority of Muslim countries face increasing pressure on their budget, which pushes to more p... more The majority of Muslim countries face increasing pressure on their budget, which pushes to more public spending. Eventually, the main victim of this situation will be the welfare of Muslim communities. Despite Islam does not tolerate negligence regarding the importance of State as major player in preserving the welfare of Muslim communities, it offers a third option to support public effort through the institution of Waqf. Indeed, this institution has played a crucial role all along Muslim civilization and it is invited to more innovation to answer to today’s challenges. Sukuk-Waqf can be seen as the perfect sustainable financing instrument offered by Islam to help sustain public spending by the people and for the people. This paper will try to examine the concept of Waqf, cash Waqf and Sukuk Waqf is Islam and their evolution during Muslim civilization. Finally, it will go through modern attempts to implement this model that can answer the need for financing to support public effort...

Halal branding industry and the Islamic finance have grown in parallel without implementing adequ... more Halal branding industry and the Islamic finance have grown in parallel without implementing adequate synergies. Both industries have advanced especially since the 60s of the 20th century, and Malaysia is probably the country of reference for the support received from the national and local authorities since its inception (Muhamed & Ramli, 2016). Since the development of the Halal industry and Halal tourism is at an early stage, there is variation in opinion on Spanish market and revenue sizing, as well as different perspectives on the activities of existing players in these fields. This study followed the sequence of steps that should be performed in developing measures of constructs. The measurement was tested and found to be both reliable and valid. However, although Muslims make up one of the largest tourist markets in the world, perceived value of tourism offering oriented toward this market has not been clearly defined. Our results show how the culture has a direct moderating eff...

Analysis of the Financial Behavior Characteristics of the Entrepreneurship of Moroccan Smes Lahse... more Analysis of the Financial Behavior Characteristics of the Entrepreneurship of Moroccan Smes Lahsen OUBDI Ibn Zohr university, l.oubdi@uiz.ac.ma ABSTRACT Aware of the undeniable role of SMEs in economic development, the Moroccan government became the protagonist in the 1990s of numerous initiatives aimed at introducing financing procedures for this category of companies. Overall, the results of these measures remain mixed. The aim of this Communication is to identify existing financing practices in Moroccan SMEs and to propose an explanatory diagram of their financing behavior. To do this we carried out an investigation after 50 SMEs concentrated on the Sale-Casablanca axis. The lack of long resources is a recurring problem for Moroccan companies, which contributes to the obstacles to the development of entrepreneurship and to the creation of a company. This is one of the weaknesses of the Moroccan financing system, which has tolerated bank financing in the form of short-term borrowi...

Journal of Financial Risk Management, 2017

This article aims to compare the calculated results of the structural approach (Internal Ratings-... more This article aims to compare the calculated results of the structural approach (Internal Ratings-Based IRB) and the discriminant analysis (Z-score of Altman, 1968), based on data from companies listed on the BVC for the period from 02 January 2014 to December 31, 2014. The structural approach is directly linked to the economic reality of the company; the default takes place as soon as the market value of these assets falls below a certain threshold. The major constraint for this approach is the determination of the probabilities of default. This situation is overcome by using the Black & Scholes (1973) model, based on Monte Carlo simulations. While the Z-score method is a financial analysis technique of business failure predictions, which is based on financial and economic ratios.

European Scientific Journal ESJ

This study empirically examines the effects of bank-specific characteristics, bank governance, fi... more This study empirically examines the effects of bank-specific characteristics, bank governance, financial market structure, and macroeconomic conditions on Moroccan banks' performance. Moroccan banks' performance is measured by return on assets (ROA) and return on equity (ROE). For this aim, panel data method (fixed effects model) is applied to data which is obtained from a sample of 6 Moroccan banks' financial statements during the period 2010-2016. The findings show that only operating management efficiency represented by the cost-to-income ratio (COST) is highly significant and negatively related to bank's performance. Also, the results indicate that bank size (SIZE) is positively related to ROA and statistically significant. Nevertheless, the effects of the other variables are statistically insignificant. The findings suggest that future studies could be include more dependent and independent variables to explain Moroccan banks' performance.

En utilisant les données de l'enquête pour les entreprises de la région Souss-Massa de 2015, nous... more En utilisant les données de l'enquête pour les entreprises de la région Souss-Massa de 2015, nous étudions les motifs derrière le découragement des entreprises par rapport à la demande de crédit auprès des banques conventionnelles. Notre définition des entreprises découragées concerne les entreprises s'ils ne demandent pas de crédit bancaire alors qu'ils auraient demandé à ce que leur situation financière illustre.