Shareholder Relationship Management’s Impact on Value Creation in the Casablanca Stock Exchange

Shareholders marketing practices have proved their usefulness in numerous studies. It is demonstrated by the diminution of costs, the increase of liquidity, and the decrease of information asymmetry. These improvements are generally accompanied by a large increase in investors’ assurance, by encouraging long-term investment. Practically speaking, stocks that implement shareholders marketing expertise into their financial communication distinguish themselves from companies that merely comply with the legal requirement in regards to financial disclosure. As a result, this perception can influence stocks’ market value, as rational investors appreciate whether a stock is overvalued or undervalued based on subjective judgments regarding these practices in the financial domain, particularly within the Casablanca stock exchange (CSE). The strategies of shareholder marketing encompass two key dimensions: finance and communication. The financial aspect centers on dividends and monetary benefits, while the communicative aspect is geared towards the exchange of information and open dialogue. This study underscores the importance of effectively managing shareholder relationships in boosting the market value of 51 companies listed on the CSE between the year 2018 and 2020, by employing both financial and communicative elements of marketing. The empirical method is based on two sets of statistical analyses: bivariate and multivariate.