The Problems of Correlation in the Financial Risk Management – the Contribution of Microfinance
AbstractIn this paper we first introduce microfinance institutions as an alternative investment instrument. We argue that beside socially responsible features of microfinance, there exists also significant portfolio enhancement opportunity in microfinance investments. Then we provide an overview of possible ways how to evaluate the correlation between microfinance related financial instruments and conventional financial market measures of risk and return.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 19486.
Date of creation: 21 Dec 2009
Date of revision:
Microfinance; Investment; Funds;
Find related papers by JEL classification:
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-16 (All new papers)
- NEP-CFN-2010-01-16 (Corporate Finance)
- NEP-MFD-2010-01-16 (Microfinance)
- NEP-RMG-2010-01-16 (Risk Management)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Karel Janda & Barbora Svárovská, 2009. "Investing into Microfinance Investment Funds," Working Papers IES 2009/32, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Dec 2009.
- William F. Sharpe, 1965. "Mutual Fund Performance," The Journal of Business, University of Chicago Press, vol. 39, pages 119.
- Dokulilova, Lenka & Janda, Karel & Zetek, Pavel, 2009.
"Sustainability of microfinance institutions in financial crisis,"
17696, University Library of Munich, Germany.
- Lenka DOKULILOVÁ & Karel Janda & Pavel ZETEK, 2009. "Sustainability of Microfinance Institutions in Financial Crisis," European Financial and Accounting Journal, University of Economics, Prague, vol. 2009(2), pages 7-33.
- Michal Bauer & Julie Chytilova & Jonathan Morduch, 2012.
"Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India,"
American Economic Review,
American Economic Association, vol. 102(2), pages 1118-39, April.
- Michal Bauer & Julie Chytilová & Jonathan Morduch, 2008. "Behavioral Foundations of Microcredit: Experimental and Survey Evidence From Rural India," Working Papers IES 2008/28, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Nov 2008.
- Bauer, Michal & Chytilová, Julie & Morduch, Jonathan, 2010. "Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India," IZA Discussion Papers 4901, Institute for the Study of Labor (IZA).
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