This paper aims to examine the determinants of financial stability in Jordanian commercial banks based on annual data for the period from 2011 to 2018. Based on the pooled effect model, this study shows that SME loans and capital adequacy positively and statistically affect the stability of Jordanian commercial banks, while financial inclusion, liquidity risk and credit risk negatively and statistically affect the stability of Jordanian commercial banks. The study recommends increasing the directing of bank loans towards small and medium enterprises, and the necessity for bank managers to commit to capital adequacy requirements because of their positive impact on banks’ stability. This study recommends that banks experiencing financial stability accelerate the increase in the rate of financial inclusion because financial inclusion ratios are very low in most of these stable banks. On the other hand, Jordanian commercial banks that have relatively high rates of financial inclusion should reduce the operating expenses resulting from financial inclusion. Bank managers also have to maintain sufficient liquidity in their banks and enhance credit standards by increasing collateral requirement from customers.

This study aims to examine whether there is any evidence of momentum in Moroccan industries and whether these momentum returns are attributed to the market status, UP and Down based on monthly data from December 1997 to December 2019. The portfolio methodology was used to classify 17 Moroccan industries within four portfolios; each portfolio constitutes 25% of Moroccan industries. The 3-factor model of Fama and French was employed to consider the risk-adjusted returns. The results showed that there is ample evidence and statistically significant momentum returns in Moroccan industries. The sub-sample findings support the evidence of momentum. This study also shows that momentum returns in the Moroccan industry are not exclusive to the UP or DOWN market because momentum returns are present in both “Up” and “Down” markets. These results are important for investors to design their investment strategies and take advantage of the momentum returns in Moroccan industries. This study contradicts the efficient market hypothesis because of the inability of the Fama-French 3-factor model to account for momentum profits; therefore, the paper recommends using the Fama-French five-factor model.