The Effect of Investment and Financial Leverage on Firm Value: Evidence from The Casablanca Stock Exchange

The objective of this research work is to study the impact of financial decisions, notably leverage and the influence of investments on firm value. In this respect, we conduct an econometric analysis using panel data on the basis of a sample of 3 Moroccan real estate companies listed on the Casablanca Stock Exchange during the period 2019-2022. The results show that leverage has a significant negative impact on firm value in long-run, while investment has a positive long-term impact on firm value. The empirical results also show that other factors can have an impact on enterprise value.