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Aspects fondamentaux du crédit-bail mobilier au Maroc : Arbitrage entre le crédit-bail et l’emprunt


  • Sulzer, Jean-Richard


  • Bennouna, Ahmed


The decision of choosing between leasing and bank loan in Morocco is the main topic analyzed in this study. It boils down to compare between accrued costs after taxes of both financing means to determine the best solution for the company.This study shows that the decision of choosing between both financing means depends on the nature of the equipment to finance, VAT deductibility, depreciation tax regime and weighted average cost of capital of the company. For that, we have studied, at first, legal, accounting, economic and tax aspects of leasing in Morocco as we printed out on the main similarities and differences with leasing in France.We have also reminded the definition of financial tools used in this study and reviewed some theories and empirical studies on the cost of leasing.

Suggested Citation

  • Bennouna, Ahmed, 2012. "Aspects fondamentaux du crédit-bail mobilier au Maroc : Arbitrage entre le crédit-bail et l’emprunt," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/10859 edited by Sulzer, Jean-Richard, April.
  • Handle: RePEc:dau:thesis:123456789/10859
    Note: dissertation

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    References listed on IDEAS

    1. Dominique Foray & Jean-Benoît Zimmermann, 2001. "L'économie du logiciel libre. Organisation coopérative et incitation à l'innovation," Revue économique, Presses de Sciences-Po, vol. 52(7), pages 77-93.
    2. Dalle, Jean-Michel & Jullien, Nicolas, 2003. "'Libre' software: turning fads into institutions?," Research Policy, Elsevier, vol. 32(1), pages 1-11, January.
    3. Harhoff, Dietmar & Henkel, Joachim & von Hippel, Eric, 2003. "Profiting from voluntary information spillovers: how users benefit by freely revealing their innovations," Research Policy, Elsevier, vol. 32(10), pages 1753-1769, December.
    4. Lindenberg, Siegwart, 2001. "Intrinsic Motivation in a New Light," Kyklos, Wiley Blackwell, vol. 54(2-3), pages 317-342.
    5. Jean-Michel Dalle & Paul David, 2005. "The Allocation of Software Development Resources In ‘Open Source’ Production Mode," Industrial Organization 0502011, EconWPA.
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    More about this item


    Maroc; investissements de capitaux; crédit-bail;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies


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