IDEAS home Printed from https://ideas.repec.org/p/sol/wpaper/2013-128723.html
   My bibliography  Save this paper

Microfinance Investment Vehicles and Social Performance: Moving forward with the MACBETH Approach

Author

Listed:
  • Jean-Marie De Corte
  • Marc Labie
  • Ludovic Urgeghe
  • Jean-Claude Vansnick

Abstract

In a context where MIVs face several bottlenecks regarding their future role in the microfinance industry, this paper suggests a brand new way of reviewing their commitment to double bottom line returns. We suggest using the MACBETH (Measuring Attractiveness by a Categorical Based Evaluation TecHnique) approach as an investment screening method which, combined to existing social performance tools such as the Social Performance Indicators, can ensure that investment decisions are taken in accordance with socially responsible investors’ values. This approach could contribute to the emergence of the transparency MIVs need in ensuring the whole sector that their commitment to double bottom line returns is real.

Suggested Citation

  • Jean-Marie De Corte & Marc Labie & Ludovic Urgeghe & Jean-Claude Vansnick, 2012. "Microfinance Investment Vehicles and Social Performance: Moving forward with the MACBETH Approach," Working Papers CEB 12-025, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:sol:wpaper:2013/128723
    as

    Download full text from publisher

    File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/128723/1/wp12025.pdf
    File Function: wp12025
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. JosÉ Figueira & Salvatore Greco & Matthias Ehrogott, 2005. "Multiple Criteria Decision Analysis: State of the Art Surveys," International Series in Operations Research and Management Science, Springer, number 978-0-387-23081-8, December.
    2. Xavier Reille & Jasmina Glisovic-Mezieres & Yannis Berthouzoz & Damian Milverton, 2009. "MIV Performance and Prospects : Highlights from the CGAP 2009 MIV Benchmark Survey," World Bank Publications - Reports 9490, The World Bank Group.
    3. repec:idb:brikps:36818 is not listed on IDEAS
    4. Cochran, Philip L., 2007. "The evolution of corporate social responsibility," Business Horizons, Elsevier, vol. 50(6), pages 449-454.
    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. Van den Bossche, Filip & Rogge, Nicky & Devooght, Kurt & Van Puyenbroeck, Tom, 2010. "Robust Corporate Social Responsibility investment screening," Ecological Economics, Elsevier, vol. 69(5), pages 1159-1169, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dorfleitner, Gregor & Röhe, Michaela & Renier, Noémie, 2017. "The access of microfinance institutions to debt capital: An empirical investigation of microfinance investment vehicles," The Quarterly Review of Economics and Finance, Elsevier, vol. 65(C), pages 1-15.
    2. Lutz G. Arnold & Benedikt Booker & Gregor Dorfleitner & Michaela Röhe, 2016. "Refinancing MFIs with Market Power: Theory and Evidence," Working Papers 162, Bavarian Graduate Program in Economics (BGPE).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fancello, Giovanna & Tsoukiàs, Alexis, 2021. "Learning urban capabilities from behaviours. A focus on visitors values for urban planning," Socio-Economic Planning Sciences, Elsevier, vol. 76(C).
    2. Bana e Costa, Carlos A. & Oliveira, Carlos S. & Vieira, Victor, 2008. "Prioritization of bridges and tunnels in earthquake risk mitigation using multicriteria decision analysis: Application to Lisbon," Omega, Elsevier, vol. 36(3), pages 442-450, June.
    3. Denys Yemshanov & Frank H. Koch & Yakov Ben‐Haim & Marla Downing & Frank Sapio & Marty Siltanen, 2013. "A New Multicriteria Risk Mapping Approach Based on a Multiattribute Frontier Concept," Risk Analysis, John Wiley & Sons, vol. 33(9), pages 1694-1709, September.
    4. Corrente, Salvatore & Figueira, José Rui & Greco, Salvatore, 2014. "The SMAA-PROMETHEE method," European Journal of Operational Research, Elsevier, vol. 239(2), pages 514-522.
    5. Comino, E. & Ferretti, V., 2016. "Indicators-based spatial SWOT analysis: supporting the strategic planning and management of complex territorial systems," LSE Research Online Documents on Economics 64142, London School of Economics and Political Science, LSE Library.
    6. Kaveh Madani & Laura Read & Laleh Shalikarian, 2014. "Voting Under Uncertainty: A Stochastic Framework for Analyzing Group Decision Making Problems," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 28(7), pages 1839-1856, May.
    7. Kadziński, MiŁosz & Greco, Salvatore & SŁowiński, Roman, 2012. "Extreme ranking analysis in robust ordinal regression," Omega, Elsevier, vol. 40(4), pages 488-501.
    8. Castilla-Polo, Francisca & Sánchez-Hernández, María Isabel & Gallardo-Vázquez, Dolores & Ruiz Rodríguez, María del Consuelo, 2016. "Diseño de un modelo de reputación para cooperativas oleícolas," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 19(1), pages 154-167.
    9. Haurant, P. & Oberti, P. & Muselli, M., 2011. "Multicriteria selection aiding related to photovoltaic plants on farming fields on Corsica island: A real case study using the ELECTRE outranking framework," Energy Policy, Elsevier, vol. 39(2), pages 676-688, February.
    10. Barbara Bradač Hojnik & Katja Crnogaj, 2020. "Social Impact, Innovations, and Market Activity of Social Enterprises: Comparison of European Countries," Sustainability, MDPI, vol. 12(5), pages 1-15, March.
    11. Growiec, Jakub, 2018. "Factor-specific technology choice," Journal of Mathematical Economics, Elsevier, vol. 77(C), pages 1-14.
    12. José M. Merigó & Anna M. Gil-Lafuente & Daniel Palacios-Marqués, 2014. "A new method for fuzzy decision making under risk and uncertainty," International Journal of Business Continuity and Risk Management, Inderscience Enterprises Ltd, vol. 5(1), pages 29-42.
    13. Franceschini, Fiorenzo & Maisano, Domenico, 2015. "Checking the consistency of the solution in ordinal semi-democratic decision-making problems," Omega, Elsevier, vol. 57(PB), pages 188-195.
    14. Bouyssou, Denis & Marchant, Thierry, 2007. "An axiomatic approach to noncompensatory sorting methods in MCDM, II: More than two categories," European Journal of Operational Research, Elsevier, vol. 178(1), pages 246-276, April.
    15. Grabisch, Michel & Kojadinovic, Ivan & Meyer, Patrick, 2008. "A review of methods for capacity identification in Choquet integral based multi-attribute utility theory: Applications of the Kappalab R package," European Journal of Operational Research, Elsevier, vol. 186(2), pages 766-785, April.
    16. Pablo Aragonés‐Beltrán & Mª. Carmen González‐Cruz & Astrid León‐Camargo & Rosario Viñoles‐Cebolla, 2023. "Assessment of regional development needs according to criteria based on the Sustainable Development Goals in the Meta Region (Colombia)," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(2), pages 1101-1121, April.
    17. Boris Yatsalo & Sergey Gritsyuk & Terry Sullivan & Benjamin Trump & Igor Linkov, 2016. "Multi-criteria risk management with the use of DecernsMCDA: methods and case studies," Environment Systems and Decisions, Springer, vol. 36(3), pages 266-276, September.
    18. Juliana Martins Ruzante & Valerie J. Davidson & Julie Caswell & Aamir Fazil & John A. L. Cranfield & Spencer J. Henson & Sven M. Anders & Claudia Schmidt & Jeffrey M. Farber, 2010. "A Multifactorial Risk Prioritization Framework for Foodborne Pathogens," Risk Analysis, John Wiley & Sons, vol. 30(5), pages 724-742, May.
    19. Becchio, Cristina & Bottero, Marta Carla & Corgnati, Stefano Paolo & Dell’Anna, Federico, 2018. "Decision making for sustainable urban energy planning: an integrated evaluation framework of alternative solutions for a NZED (Net Zero-Energy District) in Turin," Land Use Policy, Elsevier, vol. 78(C), pages 803-817.
    20. Tunjo Perić & Zoran Babić & Josip Matejaš, 2018. "Comparative analysis of application efficiency of two iterative multi objective linear programming methods (MP method and STEM method)," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 26(3), pages 565-583, September.

    More about this item

    Keywords

    Microfinance; Social performance; Microfinance Investment Vehicles; Investment screening; Multicriteria assessment;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sol:wpaper:2013/128723. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Benoit Pauwels (email available below). General contact details of provider: https://edirc.repec.org/data/cebulbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.