This article looks at current microfinance practices in Kenya and some of the inherent challenges that hinder human development of microfinance clients beyond accessing financial services. As microfinance providers and supporters continue to promote the importance of improving access to...

This article looks at current microfinance practices in Kenya and some of the inherent challenges that hinder human development of microfinance clients beyond accessing financial services. As microfinance providers and supporters continue to promote the importance of improving access to...

Although microfinance has played a significant role in providing a wide range of financial products and services, many microfinance institutions (MFIs) in Kenya still face major challenges with efficiently and effectively delivering microfinance services in the country. As the demand for these...

Although microfinance has played a significant role in providing a wide range of financial products and services, many microfinance institutions (MFIs) in Kenya still face major challenges with efficiently and effectively delivering microfinance services in the country. As the demand for these...

Although microfinance has played a significant role in providing a wide range of financial products and services, many microfinance institutions (MFIs) in Kenya still face major challenges with efficiently and effectively delivering microfinance services in the country. As the demand for these...

In explaining economic phenomena, economic analysis concentrates on selected influences and fixes the host of other factors under a ceteris paribus clause. This view, which goes back to Alfred Marshall (1842-1924), is developed in the first part of the book. Aggregation is viewed as a particular...

Life annuities provide a guaranteed income for the remainder of the recipient’s lifetime, and therefore, annuitization presents an important option when choosing an adequate investment strategy for the retirement ages. While there are numerous research articles studying annuities from a...

Even 50 years after Modigliani/Miller’s irrelevance theorem, the basic question of how firms choose their capital structure remains unclear. This survey paper aims at summarizing and discussing corresponding recent developments in empirical capital structure research, which, in our view, are...

There has been a wide-spread misconception based on the imprecise wording of Art. 52 of the European Patent Convention (EPC) that the protection of business methods by patents is prohibited in Europe. This paper investigates the legal framework set by patent laws with respect to the...

Ein Großteil der Neugründungen in Deutschland ist auf staatliche Förderung von Existenzgründern zurückzuführen. Dieser Anteil hat sich nach Einführung des als „Ich-AG“ bekannten Existenzgründungszuschusses Anfang 2003 stark erhöht. Die Erfolgsfaktorenforschung hat diese Form von...