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This study examines the value relevance of accounting information for publicly listed Moroccan companies and analyzes how profitability affects stock market valuation. Additionally, the study explores earnings management strategies used to avoid losses and earnings decreases.

Empirical tests use the Ohlson (1995) Price model to assess the extent to which accounting information explains variation in stock prices for the period 2012–2021. Moreover, the study applies the Burgstahler and Dichev (1997) approach to analyze earnings management strategies used by listed Moroccan companies.

The findings suggest a positive and significant relationship between the book value, net earnings and the market value of stocks. Additionally, profitability is identified as a crucial factor significantly influencing the relevance of accounting figures. Moreover, the analysis of the distribution of earnings reveals that listed Moroccan companies engage in earnings management to avoid losses and decreases in earnings.

The findings hold practical significance for investors, corporate leaders, accountants and stakeholders relying on accounting information for decisions. They also offer insights for Moroccan stock market regulators to improve accounting quality and market efficiency.

The study shows the extent to which stock prices reflect the accounting information from an emerging country perspective, contributing to a predominantly unexplored area of literature regarding economies in transition. Moreover, the study offers crucial insights into the influence of profitability on the market value of listed Moroccan companies and sheds light on the utilized earnings management strategies.

The purpose of this paper is to investigate the determiners to create and destroy value in horizontal mergers and acquisitions (M&A) using accounting indicators supposed to influence the new entity’s value.

Using a sample of 90 French listed companies and stepwise regression method, the authors test eight accounting indicators supposed to influence the new entity’s value.

To create value after a horizontal M&A, it is necessary to concentrate on turnover and the restructuring of charges without neglecting the control of debt capacity. To avoid destroying value after a horizontal M&A, it is necessary to concentrate on the control of debt capacity and restructuring of charges in order to reduce financial charges and financial risk. Horizontal M&A also create value through the reduction of investment costs and through tax optimization.

This paper is different from other contributions in that the majority of existing literature concerning the sources of value creation in M&A has been based on abnormal returns or microeconomic data. This paper analyzes accounting data that are likely to be influenced over the long term by corporate decision making. These kinds of decisions influence the firm’s value as well as the long-term gains that industrial investors may hope to obtain.

This study makes a significant contribution to the existing literature insofar as it seeks to divide the sources of value creation into three categories: sales synergy, cost synergies and hybrid synergies. To the best of the authors’ knowledge, this is also the first study to provide explanations from companies’ accounting data, which can lead managers to a greater vision of post-merger strategy management, reinforcing the mechanism for value creation.

In the framework of contingency theory, this paper aims to study the contextual variables that influence the variety of the contents of a performance measurement system, specifically the use of non-financial indicators in Moroccan public institutions and enterprises (MPIE).

Aiming to study the factors which influence the use of financial and non-financial indicators within MPIEs, the authors attempted to identify all performance indicators used by the MPIEs in the sample. They selected 23 MPIEs with an industrial and commercial character and analyzed their reports for the period from 2010 to 2015. To evaluate the variety of performance indicators within these organizations, they used the multi-dimensional definition of performance recommended by Kaplan and Norton (1998) and used linear regressions to explain their relationship with the contextual variables.

Three hypotheses were developed regarding these contingency factors, predicting a positive relationship between the age, the size and the competitive environment of the organization, on one hand, and the use of non-financial indicators on the other hand. Following the study of MPIEs, the authors found that these organizations normally use financial indicators. However, the use of non-financial indicators is influenced by the age of the organization alone.

The scientific contribution of this paper is twofold: first, the authors seek to fill the gap in studies of performance measurement systems for MPIEs; second, they wish to enrich the scientific literature for underdeveloped countries which suffer from lack of data. Its managerial contribution is also dual: first, the authors aim to provide managers of MPIEs with a clearer understanding of non-financial measures that fully address the different management needs of their organizations; second, they encourage the government control using non-financial aspects alongside financial aspects.

The purpose of this article is to address certain gaps and contribute to enriching the literature on mergers and acquisitions (M&A) in Africa; describe the phenomenon taking into account the particularity of the country; address recommendations to public policies and investors and make this article a ground-breaking article on research into the phenomenon of the M&A market in North Africa.

With description and an exploratory intention, the authors develop phenomenon driven research. As appropriate phenomenon driven research, the authors focus on characteristics of Moroccan M&A market. The authors use scientific investigation to provide descriptions and explanations of the phenomena in order to add a new perspective to the M&A literature in North African region. The authors work on the particularity of companies in Morocco, typology of M&A, geographic areas, socio-economic indicators, trade agreements, politics and culture.

Understand that the phenomenon of domestic M&A is a phenomenon of big cities and knows the participation of small and medium enterprises. The political variable, the trade agreements and the socio-economic weight of the countries influence the cross-border M&A in to out. Sharing a border and common culture has no impact on cross-border M&A but the history of colonization has an impact.

The scientific contribution is first an extension of the neoclassical theory on the initiation of M&A operations. Throughout these 29 years of history, the existence of external shocks such as regulations has influenced the activity of M&A operations. Privatization, partial opening of sectors to foreign investment tax incentives have contributed to the realization of M&A operations.

This paper also has an economic and practical contribution, as it informs about the absence of M&A operation in the agriculture and agri-food sector in Sub-Saharan Africa. This region recognizes a food shortage that will increase by 70–100% between 2010 and 2050 with a strong population growth. The authors also note that regulations, royal directives, influence the activity and geographic choices of M&A. The political variable remains decisive for the cross-border M&A activity between Morocco and Algeria, but encourages acquisitions in countries in West and Central Africa.

M&A research in Africa is poor and suffers from several shortcomings; these barriers push researchers to produce fewer papers on this phenomenon. Through data collection, description and explanation, the authors tried to produce a paper focusing on the M&A phenomenon in a country in North Africa. To the authors’ knowledge, no article has dealt with this phenomenon in this country which is known for its strong M&A activity.

The purpose of this research is to highlight the financial characteristics of large French targets which were subject to takeovers during the period 2001–2007 and thereafter deduct the implicit motivations of acquirers.

Using a global sample of 128 French listed companies (64 targets and 64 non-targets), the authors carried out Wilcoxon–Mann–Whitney testing and logistic regression in order to test nine hypotheses likely to discriminate between the two categories of companies (targets and non-targets).

According to the results, target firms are more unbalanced in terms of growth resources and less rich in liquidity than their peers. They have unused debt capacity, offer greater opportunities for growth than firms in the control group and present low levels of value creation.

The main limitation of this study is regarding the sample size, limited by the exclusive use of large firms (deals of over $100m). The scope of this research could be broadened in future by including medium-sized companies.

The authors believe that their results have two major implications. First, they enable market investors to achieve abnormal returns by investing in predicted targets through a portfolio of high takeover probability firms. Second, CEO of companies that are potentially targeted can assess their takeover likelihood in order to act and to manage such a situation for the benefit of their shareholders.

This research concerns the last wave of takeover prior to the subprime-mortgage financial crisis (2001–2007), a period that has not been sufficiently covered in empirical studies. This research contributes to the existing literature in two main respects. First, the results of this study improve our understanding of motivations for takeovers, particularly in the French context. Second, the introduction of new accounting and financial variables, not previously tested in the literature, enriches the available information concerning the profile of takeover targets.

The battle to fight and resist the COVID-19 virus continues worldwide and even the vaccination drive is failing to control the new strains of viruses which are resulting in death and disruption of a normal life. The higher education sector, like others, has been affected by billions of students unable to return to their campus life. Universities have been forced to scale up their online learning ability, try out new and effective learning management systems and train their faculty and staff members to teach and operate remotely. This has led to a financial strain on the higher education institution with dwindling enrollment and student mobility. Afghanistan’s vulnerable and fragile higher education system, fraught with war and internal strife, has suffered a huge setback. Electricity and access to the internet is a perilous problem and with the additional burden of students studying online, both providers of utility services and educational institutions are finding it increasingly difficult to face the unprecedented demand. This chapter aims to highlight such issues that are plaguing the already uncertain future of this country – even when the presence of the COVID-19 virus was unheard of. Qualitative interview method was used to gather data from the officials from the Ministry of Higher Education, faculty members from different universities and students from various provinces who voiced their opinion and hardships that they are facing in the current pandemic situation. The data were analyzed to suggest possible outcomes and recommendations were based on the data collected.

This study aimed to address the importance and effects of studying history and Islamic history on students’ political awareness.

To achieve the objectives of this study, a questionnaire was used. A total of 315 university students aged 17–50 years old participated in the study. These students represented three of the most influential universities in the Kingdom of Saudi Arabia.

The results revealed a strong, positive and significant correlation between the study of history and students’ political awareness.

The findings of this study indicated that studying history and Islamic history leads to an increased level of students’ political awareness. Therefore, studying history is important for university students to develop their political awareness and prepare them as future leaders.

The world has seen a lot of disasters which have affected some part of the globe and healed in due course but rarely has any health disaster affected the entire world like COVID-19. It not only affected the health sector but caused a downward spiral of the world economy. The world was not prepared to face such a magnitude of the disaster. Overnight, schools and universities declared a lockdown affecting 1.57 billion students in 191 countries (UN, 2020). The sudden closure of educational institutions negatively impacted education around the world and much of the education sector shifted to remote learning. This exacerbated the shortcomings of those institutions who were unprepared for the sudden shift to remote learning. The global pandemic triggered the need to reconceptualize how educational institutions provision teaching and learning. Universities resorted to intensive use of different technology platforms and resources to achieve their learning outcomes. This volume explores how educational institutions needed to rethink teaching, learning, research and innovation, and implement innovative approaches to address such complexities. International case studies have been compiled that highlight the issues related to the impact of the COVID-19 pandemic on higher education and how different countries tried to cope with the sudden shift of remote learning and tried to resolve challenges around the issues of digital pedagogy.