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Une approche exploratoire de la sélection ago-antagoniste des stratégies directrices aux MUCODEC par la vraisemblance Logit

Author

Listed:
  • Serge Lenga

    (CEREGE - Centre de Recherche en Gestion et Entrepreneuriat - UMNG - Université Marien Ngouabi [Brazzaville])

Abstract

By choosing one approach in terms of middle segment of finance, strategies guiding mechanisms that underlie the selection of financial assets comprising the portfolio of MFIs are between the floor of microfinance and ceiling of the bank credit. This oscillation reflects the strategic behavior of alternative base of MFIs located between the search for social performance and the achievement of financial performance. We propose an exploratory approach of the determinants of MUCODEC's guiding strategies for selecting between speculative actions (institutional approach) and credit (welfarist approach) through a validation likelihood logit of the estimated prediction of the behavior. It is therefore to examine the conformity with the precepts of standard financial theory which states that opportunities for risk-taking should not increase the vulnerability of MFIs as they will carry out a risk diversification. The theoretical explanation generally proposed that excessive risk-taking (financial or social) will rely primarily on the argument of moral hazard founded by a logic ago-antagonist guiding strategies identified.

Suggested Citation

  • Serge Lenga, 2012. "Une approche exploratoire de la sélection ago-antagoniste des stratégies directrices aux MUCODEC par la vraisemblance Logit," Post-Print hal-01147927, HAL.
    • Handle: RePEc:hal:journl:hal-01147927
    as

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