Acceso usuarios
Kaoutar Benslama, Hajar Ahadi, Ali Ouhaki, Cheklekbire Malainine
Objective: This paper examines the impact of financial performance (FP) on the social performance of companies (SPC) in the Moroccan context, a topic of increasing relevance due to the growing social and environmental commitment within organizations.
Theoretical Framework: The research is anchored in a diverse set of theoretical perspectives, including stakeholder theory, agency theory, and institutional theory. Foundational models such as those by Carroll, Wood, and Clarkson help structure the concept of social performance. The study also revisits ongoing debates surrounding the CSR–FP relationship, including the virtuous and vicious cycle hypotheses, trade-off models, and non-linear interpretations, all while considering the unique regulatory and cultural features of the Moroccan business landscape.
Methodology: the study focuses on a sample of 10 companies listed on the Casablanca Stock Exchange that adopt Corporate Social Responsibility (CSR) strategies influenced by labels such as those from the General Confederation of Moroccan Enterprises (CGEM). The central question is to analyze the relationship between FP and SPC using an exploratory qualitative approach based on semi-structured interviews. The data collected were analyzed using NVivo software to identify the underlying dynamics between these two dimensions and to understand how CSR integrates into the strategies of Moroccan companies. This study sheds light on the opportunities and challenges associated with integrating CSR into corporate practices and contributes to understanding the reciprocal effects between financial and social performance. The results are expected to provide valuable insights into the evolution of responsible practices in Morocco and their impact on corporate competitiveness.
Results and Discussion: The findings reveal a strong and positive correlation between FP and SPC. Companies with greater financial resilience are better positioned to invest in meaningful CSR actions, which, in turn, reinforce their public image, employee engagement, and stakeholder trust. However, a wide variation in CSR implementation strategies was observed—ranging from proactive, value-driven approaches to minimal compliance-based practices. The influence of organizational size, sectoral context, and leadership orientation also emerged as key variables in this relationship.
Research Implications: This research offers a foundation for future empirical studies on CSR in Morocco, underlining financial stability as a necessary—though not sufficient—condition for robust social performance. It invites further investigation through quantitative approaches and encourages integration with broader frameworks, such as public policy initiatives or international CSR standards.
Originality/Value of the Research: As one of the rare qualitative studies addressing the FP–SPC dynamic in a Moroccan context, this research stands out by combining theoretical plurality with a grounded, managerial perspective. Its originality lies in its contextual relevance, its thematic structure, and its potential to inform future mixed-method investigations into CSR practices in emerging economies.
