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Performance of microfinance institutions: do board activity and governance ratings matter?

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  • Hubert Tchakoute Tchuigoua

Abstract

L’objectif de cette étude est de vérifier empiriquement la relation entre l’activité du conseil d’administration, la qualité de la gouvernance et la performance financière des institutions de microfinance (IMF). L’étude porte sur un échantillon de 215 IMF notées par Planet Rating entre 2003 et 2009. Les résultats, obtenus après contrôle des biais de sélection et d’endogénéité, suggèrent que l’activité du conseil d’administration et la qualité de la gouvernance sont associées à la performance financière. En outre, l’impact de la qualité de la gouvernance et de la dualité diffère selon le statut légal de l’IMF. Au regard des résultats obtenus, il semble difficile de conclure définitivement que la forme juridique des IMF a un effet modérateur sur leur performance financière. L’existence de cet effet modérateur dépend du type d’indicateur retenu pour mesurer la qualité de gouvernance. Les résultats sont robustes à l’utilisation d’autres mesures de la performance financière et de l’activité du conseil d’administration.

Suggested Citation

  • Hubert Tchakoute Tchuigoua, 2014. "Performance of microfinance institutions: do board activity and governance ratings matter?," ULB Institutional Repository 2013/398242, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/398242
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