The paper investigates temporal relationships between leading drivers of success, non-financial outputs, and financial outcomes as suggested by the Balanced Scorecard. Based on a sample of 42 companies with a four-year survey data, we find partial confirmation of temporal causality between...

The paper presents a synthesis of contemporary performance measurement systems (PMS) research in Central and Eastern Europe (CEE). The literature review is organized around four determinants of contemporary PMS: multidimensionality, strategic focus, cascading, and alignment between PMS and...

Trust is the basis of many aspects of microfinance operations and is a critical determinant of microfinance success. Trust governs interactions within borrowing groups, between clients and loan officers and between clients and institutions. To effectively address the many strategic challenges...

Microfinance institutions (MFIs) have largely focused on urban markets, leaving the rural poor underserved. The high costs of serving rural markets has often been identified as the key impediment to serving these markets, resulting in saturation and heavy competition in urban markets while poor...

The microfinance industry seeks to alleviate poverty by providing business loans and related financial services to clients who are too small to be served profitably through the formal financial sector. Microbusiness lending is considered to be among the most powerful tools available for...