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Norms and values of the various microfinance institutions

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Author Info
Marek Hudon

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Abstract

Purpose – The paper aims to study the role of norms and values in the microfinance sector. Design/methodology/approach – The paper provides a combination of narrative with argument and analysis. Findings – A classification of the sector is proposed, mapping the institutions along two axes: the profit motive (profit vs not-for-profit) and the decision-making style (centralized vs un-centralized). Some microfinance institutions base their interactions on rigid norms or rules; while others are based on values. It is argued that the private sector will tend to produce the operating rules of the microfinance system while the not-for-profit institutions that are using an inclusive decision-making process are more likely to influence the ethical norms in the sector. Nevertheless, this classification is not static as recent events in South-India shows that norms, such as the interest rates, can be politically and emotionally invested to the point that they are about to become values in the sector. Originality/value – The conclusions drawn help in understanding the interactions between the various actions in microfinance. Exploiting the full range of the possibilities of those different structures may be valuable for a fully successful development in India.

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Publisher Info
Article provided by Emerald Group Publishing in its journal International Journal of Social Economics.

Volume (Year): 35 (2008)
Issue (Month): 1 (January)
Pages: 35-48
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Handle: RePEc:eme:ijsepp:v:35:y:2008:i:1:p:35-48

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Related research
Keywords: Financial analysis; Financial institutions; India; Value analysis;

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  1. Marc Labie & Anaïs Périleux, 2008. "Corporate Governance in Microfinance : Credit Unions," Working Papers CEB 08-003.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
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This page was last updated on 2009-12-2.


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