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Performance and international investments in microfinance institutions

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  • Roy Mersland
  • Ludovic Urgeghe

Abstract

Using data from 319 microfinance institutions (MFIs) in 68 developing countries, we study the degree to which international debt investments are related to the financial and social performances of MFIs. We find that commercial investments are mainly related to financial performance and level of professionalisation of the MFIs. The targeting of women is not a priority, even though international commercial investors target MFIs that provide small loans. Subsidised investments, however, are mainly driven by the targeting of women, while financial performance and the level of professionalisation of the MFI is not a priority.

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File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/103401/1/wp11054.pdf
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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 11-054.

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Length: 31 p.
Date of creation: Nov 2011
Date of revision:
Publication status: Published by:
Handle: RePEc:sol:wpaper:2013/103401

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Related research

Keywords: microfinance; commercialisation; socially responsible investors; microfinance investment vehicles; social performance;

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  1. Renneboog, Luc & Ter Horst, Jenke & Zhang, Chendi, 2008. "Socially responsible investments: Institutional aspects, performance, and investor behavior," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1723-1742, September.
  2. Mark Schreiner, 2001. "Aspects of Outreach: A Framework for the Discussion of the Social Benefits of Microfinance," Development and Comp Systems 0109003, EconWPA.
  3. D'Espallier, Bert & Guérin, Isabelle & Mersland, Roy, 2011. "Women and Repayment in Microfinance: A Global Analysis," World Development, Elsevier, vol. 39(5), pages 758-772, May.
  4. Mersland, Roy & Øystein Strøm, R., 2009. "Performance and governance in microfinance institutions," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 662-669, April.
  5. Ludovic Urgeghe, 2010. "Les véhicules d'investissement en microfinance et le défi de la performance sociale," Mondes en développement, De Boeck Université, vol. 0(4), pages 69-82.
  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.
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