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The Problems of Correlation in the Financial Risk Management – the Contribution of Microfinance

  • Janda, Karel
  • Svárovská, Barbora

In 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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File URL: http://mpra.ub.uni-muenchen.de/19486/1/MPRA_paper_19486.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 19486.

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Date of creation: 21 Dec 2009
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Handle: RePEc:pra:mprapa:19486
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  1. 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.
  2. William F. Sharpe, 1965. "Mutual Fund Performance," The Journal of Business, University of Chicago Press, vol. 39, pages 119.
  3. Dokulilova, Lenka & Janda, Karel & Zetek, Pavel, 2009. "Sustainability of microfinance institutions in financial crisis," MPRA Paper 17696, University Library of Munich, Germany.
  4. 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.
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