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To whom should we be fair? Ethical issues in Balancing Stakeholder Interests from Banco Compartamos Case Study

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Author Info
Arvind Ashta (Burgundy School of Business, CEREN, France)
Marek Hudon () (Centre Emile Bernheim, CERMi, Solvay Brussels School of Economics and Management, Université Libre de Bruxelles, Brussels.)

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Abstract

In the world of microfinance, interest rate ethics is an important issue, thrown into the limelight by the Initial Public Offering of Compartamos which resulted in millions of dollars of gains, some of which found their way into private pockets. These high gains were based on high interest rates, raising ethical questions. The paper then uses a stakeholder analysis to explain the interests of different stakeholders in this case and present that fairness to one group of stakeholders is often at the expense of another group. We take the position that in this case, specifically, the firm objectives could have been met without such ethical trade-offs. The specifics of the case are then generalised to all NGOs participating in for-profit firms.

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File URL: http://www.solvay.edu/EN/Research/Bernheim/documents/wp09036.pdf
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File Function: First version, 2009
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Publisher Info
Paper provided by Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB) in its series Working Papers CEB with number 09-036.RS.

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Length: 34 pages
Date of creation: Sep 2009
Date of revision:
Handle: RePEc:sol:wpaper:09-036

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Keywords: Agency problem; business ethics; fairness; governance; microfinance; stakeholder;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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.:
  1. Constant Mews & Ibrahim Abraham, 2007. "Usury and Just Compensation: Religious and Financial Ethics in Historical Perspective," Journal of Business Ethics, Springer, vol. 72(1), pages 1-15, April. [Downloadable!] (restricted)
  2. Niels Hermes & Robert Lensink, 2007. "The empirics of microfinance: what do we know?," Economic Journal, Royal Economic Society, vol. 117(517), pages F1-F10, 02. [Downloadable!] (restricted)
  3. Marek Hudon, 2009. "Should Access to Credit be a Right?," Journal of Business Ethics, Springer, vol. 84(1), pages 17-28, January. [Downloadable!] (restricted)
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  4. Stephen Brammer & Andrew Millington, 2004. "The Development of Corporate Charitable Contributions in the UK: A Stakeholder Analysis," Journal of Management Studies, Blackwell Publishing, vol. 41(8), pages 1411-1434, December. [Downloadable!] (restricted)
  5. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December. [Downloadable!] (restricted)
  6. Robert Cull & Asli Demirguç-Kunt & Jonathan Morduch, 2007. "Financial performance and outreach: a global analysis of leading microbanks," Economic Journal, Royal Economic Society, vol. 117(517), pages F107-F133, 02. [Downloadable!] (restricted)
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  1. Beatriz Armendariz & Ariane Szafarz, 2009. "On Mission Drift In Microfinance Institutions," Working Papers CEB 09-015.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 2009-11-23.

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