Compliance Analysis of the Best Practices of Corporate Governance in Morcco: Case of the Large Market Capitalization Companies

Amid the leading position of Morocco in terms of Corporate Governance compared to peer countries from the Middle East and Africa (MEA) region, a number of legislative and operational limitations still as of today impede the process of implementation of these practices [1]. This leads us to question the extent to which the large market capitalization firms have implemented these practices. Therefore, the present article aims to present the findings of a semi-directive qualitative research conducted on the 20 largest capitalizations of Casablanca Stock Exchange. We will attempt to contextualize the most widely used Corporate Governance scoring system (Institute of Shareholders Services)to the Moroccan context. We will, then, analyze the state of progress of the selected equity listed companies in terms best practices of corporate governance by comparing our findings dated as of 2017 with the last report of the Moroccan Institute of Directors (IMA) of 2012.