Predicting the Behavior of Moroccan SME Managers towards participatory financing: An Exploratory Study in the Fez-Meknes Region.

Abstract

ABSTRACT

Small and medium-sized enterprises (SMEs) play a crucial role in economic growth and have become a major concern for governments and policymakers in developed and developing countries alike. Given the importance of SMEs in Morocco's economic growth, it is essential that SMEs have access to sources of financing. However, access to finance is one of the main constraints to SME development, hence the importance of the participatory banking sector which has grown considerably worldwide over the past 40 years due to its ethical, religious and solidarity dimensions. It is set up to boost the banking system, meet the needs of unsatisfied customers and give hope to SMEs that face difficulties in accessing traditional bank financing.

Indeed, predicting the behavior of SMEs and the determinants that influence their adoption of participatory finance are the subject of many studies. In Morocco, no study has attempted to develop a model for the adoption of this ethical finance in SMEs. Hence, the objective of this article is to better understand the determinants that influence the intention of Moroccan SME managers to adopt participatory finance products. To achieve this objective, we conducted empirical research using the qualitative approach, in order to obtain a high level of credibility with respect to the results obtained. Thus, these different analyses have given rise to a new model explaining the way in which SME managers can opt for participatory financing in the Moroccan context, particularly in the Fez-Meknes region.

Keywords :  Participatory finance, Participatory financial products, Small and medium-sized enterprises, Behavioral intention, Attitude, Theory of planned behavior.