This paper shines light on subsidy-dependent microfinance institutions (MFIs). Firstly, our model shows that subsidy … proxied by average loan size, interest rates, and outreach. Our results suggest that more subsidies are associated with … subsidy uncertainty is negatively correlated with outreach. …

Poor people were excluded from financial services until microfinance institutions (MFIs) emerged. The mission of MFIs … microfinance and mission drift, tested with hypotheses. The results from the empirical study show a pattern of mission centered MFI …

This study uses a unique, hand-collected sample of microfinance institutions from 73 developing countries to analyze … the relationships between audit quality and governance mechanisms. We examine two measures of audit quality, namely, the … audit quality. In particular, the presence of internal auditors is related to other indicators of stricter governance …

microfinance institutions. We provide empirical evidence on the distribution of the generated surplus between the key stakeholders …

In the world of microfinance, interest rate ethics is an important issue, thrown into the limelight by the Initial … have been met without such ethical trade-offs. The specifics of the case are then generalised to all NGOs participating in …

This paper uses a unique database from a leading microfinance rating agency to assess the impact of management on the … functioning of microfinance institutions (MFIs). It focuses on MFIs’ financial performance, and on the level of subsidies received …

How do microfinance institutions (MFIs) allocate their productivity surplus to stakeholders? This paper shows that this …

difference in profitability between private companies and NGOs. In addition, the commercial approach to microfinance does not …

This article shows how today’s West African microfinance cooperatives could learn from the experience of 19th century … a maturity mismatch, which in turns leads to governance issues. The 19th century German FCs provided long-term loans (10 … governance system based on cooperative auditing associations. We discuss the feasibility of implementing those mechanisms in …