This book explores the revolutionary development of the theory of the firm over the past 35 years. Despite rapid progress in the field, new developments in the microeconomic and industrial organization literature have been relatively scant. This book attempts to redress the balance by providing...

Suppliers of microfinance are typically Non Governmental Organizations (NGOs), cooperatives or specialized microfinance institutions incorporated as Shareholder Firms (SHFs). Leaving out the cooperatives we study whether NGOs and SHFs differ in bringing along social benefit to their clients....

Summary Claims have been made that microfinance institutions (MFIs) experience mission drift as they increasingly cater to customers who are better off than their original customers. We investigate mission drift using average loan size as a main proxy and the MFIs lending methodology, main...

We examine the relationship between firm performance and corporate governance in microfinance institutions (MFI) using a self-constructed global dataset on MFIs collected from third-party rating agencies. Using random effects panel data estimations, we study the effects of board and CEO...