5 research outputs found
Le Crowdfunding : Outil crucial pour la démocratisation de l’accès au financement et la promotion de l’inclusion financière au Maroc
No full textIn a context of globalization, the development of new information and communication technologies, the emergence of the collaborative economy and crowdsourcing, but also the difficulty of access to financing for entrepreneurs, the crowdfunding literally called crowd financing, stands out as an alternative financial innovation allowing not only a diversification of financing resources but also representing a tool for injecting confidence for project leaders, particularly in times of crisis when banks are particularly cautious in the provision of financing, especially, in the absence of guarantees.
This real lever of responsible financing lever puts in direct and transparent relationship project leaders looking for financing and contributors concerned about the responsible use of their savings through a variety of forms which varies according to the importance of the applicant's funding requirement and the type of project to be financed, which makes it possible to a new dynamic of innovation in the field of entrepreneurship, a flowering of high-impact innovative startups and a strengthening of social ties, a feeling of proximity and civic engagement
Even if this method of financing is developed and in full expansion in other countries, it is still embryonic in Morocco, however our country’s willingness to achieve progress in terms of economic and social development has push Morocco to create favorable conditions for development of crowdfunding by adopting a regulatory framework to offer it the opportunity to be a pioneer and a leader of this new industry on an African scale.
This article aims to understand the role of crowdfunding as an innovative financing lever adapted to different categories of the economic fabric, its impact on the promotion of financial inclusion and the democratization of access to financing.
Keywords: Crowdfunding, responsible finance, financial inclusion, contributors, entrepreneur Classification JEL: G21 G3 L26
Paper type: Theoretical ResearchDans un contexte de globalisation, de développement de nouvelles technologies de l’information et de communication, le développement de l’économie collaborative et du crowdsourcing, mais aussi la difficulté d’accès des entrepreneurs à des moyens de financement, le crowdfunding littéralement appelé financement par la foule, s’impose comme une innovation financière alternative permettant non seulement une diversification des ressources de financement, mais représentant également un outil d’injection de confiance pour les porteurs de projet notamment en temps de crise où les banques s’avèrent particulièrement prudentes face à l’octroi de financement surtout en absence de garanties.
Ce vrai levier de financement responsable met en relation directe et transparente des porteurs de projet en quête de financement et des contributeurs soucieux d’une utilisation responsable de leurs épargnes (Lesur, N. (2016) à travers une panoplie de formes qui varie selon l’importance du besoin de financement du demandeur et le type de projet à financer, ce qui permet d’insuffler une nouvelle dynamique d’innovation dans le domaine de l’entrepreneuriat, une floraison de startups innovantes à fort impact ainsi qu’ un renforcement les liens sociaux, du sentiment de proximité et d’engagement citoyen.
Même si ce mode de financement est développé et en plaine d’expansion dans les autres pays, il reste encore embryonnaire au Maroc, toutefois la volonté de ce pays à réaliser des avancés en matière de développement économique et social à pousser ce dernier à créer des conditions favorables au développement du crowdfunding en adoptant un cadre réglementaire pour lui offrir l’opportunité d’être un pionnier et un leader de cette nouvelle industrie à l’échelle africaine (Hemdane, T. (2016)).
Le présent article vise à comprendre le rôle du crowdfunding en tant que levier de financement innovant adapté à différentes catégories du tissu économique, son impact sur la promotion de l’inclusion financière et la démocratisation de l’accès au financement.
Mots clés : Crowdfunding, inclusion financière, finance responsable, contributeurs, entrepreneurs
JEL Classification : G21 G3 L26
Type du papier : Recherche Théoriqu
Post-Crash Fire Forensic Analysis of Aerospace Composites
No full textThe primary goal of this thesis is to investigate the effects of fire exposure on thermal damage development in mechanically-failed graphite-epoxy composites. Vertical and horizontal fire tests were performed on mechanically-failed unnotched compression, short beam strength, and in-plane shear Cytec Cycom 5215 T40-800 graphite-epoxy specimens. In addition, a single cone calorimetry test was performed on a compression-after-impact specimen. Fire damage included melt dripping, matrix decomposition, char, soot, matrix cracking, delamination, and residual thickness increases due to explosive outgassing. Visual inspection and scanning electron microscopy of burned specimens showed that the specimen lay-up, specimen orientation relative to the heat source, and fracture surface morphology all had a significant influence on composite thermal degradation.
Thermal damage due to heat conduction, combustion, and/or thermal deformation was highly dependent on the ply orientation relative to the flame. Plies with fibers oriented parallel to the heat-exposed surface acted like a thermal protection layer that impeded (slowed) heat transfer to the interior of the specimen and promoted convection of hot gasses that bypassed the specimen. In contrast, plies with fibers oriented perpendicular to the heat-exposed surface (i.e., burned parallel to the fibers) conducted heat into the interior of the composite, resulting in melt dripping, internal pockets of matrix decomposition, and surface char deposition that, in some cases, completely obscured salient aspects of fiber fracture surface morphology. Thermal damage development in mechanically-failed laminates can be compounded by the presence of different ply groupings in a given stack-up, as well as the total available free surface area. Burned specimens with more free surface area sustained far more thermal degradation for a given fire exposure. Exposed fiber bundles were susceptible to severe thinning and thermal oxidation which destroyed key fractographic features.
To the author���s knowledge, this research is the first to investigate i) the effects of fire exposure on mechanically-failed continuous graphite fiber-epoxy laminates, and ii) the influence of specimen lay-up, orientation, and fracture surface morphology on different thermal degradation mechanisms in aerospace composites. This research represents an important first step in the development of a coherent strategy for Federal Aviation Administration post-crash forensic analysis of composite aircraft structures
Développement régional et efficience au Maroc : Analyse empirique
No full textLe chantier de régionalisation avancée au Maroc vise essentiellement la réalisation d’un développement territorial intégré et durable et la réduction des disparités régionales. Depuis plusieurs années, l’État, les établissements publics et les collectivités territoriales ont mis en place des politiques et des programmes économiques et sociaux dans toutes les régions du Maroc visant en priorité la création de la richesse, la réduction de la pauvreté et des inégalités et l'amélioration de l'employabilité des jeunes. Dans ce sens, l’objectif de ce papier est de mesurer le niveau d'efficience des régions marocaines dans l'utilisation des facteurs socio-économiques pour promouvoir le développement régional. La méthode d’analyse d’enveloppement des données (DEA) a été utilisée pour analyser l’efficience des régions entre 2001 et 2017 et l’indice de Malmquist pour étudier les facteurs de production. Les résultats montrent que le niveau d’efficience des régions marocaines se situer aux alentours de la frontière d’efficience, mais sans progrès remarquables en termes de productivité entre les deux périodes. Le changement de cette situation nécessite de mettre en œuvre des politiques territoriales adaptées aux besoins de développement de chaque région, d’améliorer de la gestion efficiente des ressources et de saisir les opportunités inédites du progrès technologique à générer des gains de productivité.
Mots clés : Efficience, développement régional, Maroc
Classification JEL : C67, P25, R13
Type de l’article : Recherche appliquéeThe advanced regionalization project in Morocco essentially aims to achieve integrated and sustainable territorial development and the reduction of regional disparities. For several years, the State, public establishments and local authorities have implemented economic and social policies and programs in all regions of Morocco aimed primarily at the creation of wealth, the reduction of poverty and inequalities and improving youth employability. In this sense, the objective of this paper is to measure the level of efficiency of Moroccan regions in the use of socio-economic factors to promote regional development. The data envelopment analysis (DEA) method was used to analyze the efficiency of the regions between 2001 and 2017 and the Malmquist index to study the factors of production. The results show that the level of efficiency of Moroccan regions is around the efficiency frontier but without remarkable progress in terms of productivity between the two periods. Changing this situation requires implementing territorial policies adapted to the development needs of each region, improving the efficient management of resources and seizing the unprecedented opportunities of technological progress to generate productivity gains.
Keywords: Efficiency, regional development, Morocco
JEL Classification: C67, P25, R13
Paper type: Empirical researc
Optimistic Planning Algorithms For State-Constrained Optimal Control Problems
No full textInternational audienceIn this work, we study optimistic planning methods to solve some state-constrained optimal control problems in finite horizon. While classical methods for calculating the value function are generally based on a discretization in the state space, optimistic planning algorithms have the advantage of using adaptive discretization in the control space. These approaches are therefore very suitable for control problems where the dimension of the control variable is low and allow to deal with problems where the dimension of the state space can be very high. Our algorithms also have the advantage of providing, for given computing resources, the best control strategy whose performance is as close as possible to optimality while its corresponding trajectory comply with the state constraints up to a given accuracy
Prediction of relevant exposure sources to aggregate chemical exposures from general and occupational environments: exploration of a decision tree approach
No full textTo understand the total exposure of a human population to a chemical, it is necessary to aggregate exposures from different exposure routes (ingestion, inhalation, dermal uptake) and exposure sources (eg food, air, consumer products) from different environments (ie general, occupational, consumer use). Preventive actions or regulatory decisions require decisions to be taken on priority exposure routes and sources. This study explores the development of a quantitative decision tree to identify relevant exposure sources in the context of aggregate exposure. As a case study for spray applications, it focuses on joint exposure to a specific chemical in a consumer product through domestic use of hairspray, and exposure at the workplace involving surface spraying, such as spray application of paints.
Determinant of the exposure models ART (for workers) and ConsExpo (for the general population) were used to generate a wide range of realistic exposure scenarios. The dominance of one source over another was analyzed through pairwise random comparisons. Exposure estimates from one source containing a specific determinant are compared with those from the other source, scaled by a dominance ratio that defines how much higher one source's exposure must be to be considered dominant. For each comparison, the number of times one source exceeds the other by at least a dominance ratio is counted, resulting in the occurrence. The occurrence is compared with a predefined threshold (eg 80%). If the threshold is met or exceeded, the higher-contributing source is considered dominant and no exposure aggregation is needed; otherwise, aggregation of both sources is recommended.
The findings indicated that the use of high- or medium-specification glove boxes, as forms of permanent encapsulation or encasing of the emission source, results in occupational exposure that is negligible compared with the exposure from consumer product use. When these glove boxes were used, hair spray exposure was the dominant source in 89% and 82% of cases, for high and medium specifications, respectively. A spraying activity with surface liquids performed outdoors (close to buildings) showed a significant trend toward occupational exposure dominance in 81% of cases. Using these three determinants, a three-layer quantitative decision tree was built to help users quickly decide whether aggregation was relevant before performing calculations. Aggregation was suggested in 91% of cases and avoided it in 9%.
© The Author(s) 2025. Published by Oxford University Press on behalf of the British Occupational Hygiene Society
