The objective of this paper is to analyze through an econometric study the impact of the implementation of the Basel reforms aimed at securing the activity of credit institutions on the intermediation and support activity undertaken by banks vis-à-vis small and medium-sized enterprises. Thus, a model was estimated on a sample covering a period of 3 years, spanning 2013 to 2016 and comprising 200 firms operating in various sectors. Basel regulations are approached by the bank's prudential variables in particular, the average return on equity, the solvency ratio and the short-term liquidity ratio. While access to bank financing for firms is represented by specific variables relating to their levels of liquidity, leverage and profitability. The results revealed that the new regulations are aimed at eliminating unprofitable exposures, which limit risky positions despite their profitability and widen the funding gap for small and medium-sized enterprises. Quantitatively, no reduction in the volume of credit is observable, this depends on the initial position of the bank.

The objective of this paper is to assess the strategy made by Morocco in terms of improving the access of SMEs to bank financing, particularly the reduction of regional inequalities. Thus, a model was estimated on a sample comprising 200 SMEs over the period 2005-2014. The financial constraints analyzed are the debt ratio, self-financing and the transparency. The results showed the persistence of disparities between regions in terms of access to bank financing. The SMEs located in the southern and eastern regions present notable constraints in accessing the credit market, unlike those located in the regions of Grand Casablanca, Rabat and the North. This inequality is mainly due to the specificities of the financial situation of the SMEs, as well as to the proximity of banking establishments which are concentrated in the central and northern regions. The consequences for these firms are the agency problems and information asymmetries as well as high additional financing costs.

This paper presents a study on the relationship between the value of the firm and financial risks by a sample of Moroccan companies listed on the Casablanca Stock Exchange. The sample covers 72 listed companies operating in various industries. The value of the company is represented by the monthly dividend yield of the firm and the financial risks are mainly; market risk, exchange rate risk, rate risk, and commodity risk. The aim of the analysis is to study the impact of these financial risks on the value of the company, through an econometric study of a regression model, where the value of the company is the dependent variable, and financial risks are the explanatory variables. The empirical results show that 35% of Moroccan companies are sensitive to changes of financial instruments for the period of May 2013 to April 2014.The results also show that the sensitivity of firms depends on the nature of the activity and the degree of openness on the international market. A cross-sectional analysis by industry was considered to answer the question, and the results suggest that the most sensitive areas are the telecommunications sector, followed by the building and public works sector, then the transport sector.