微型金融机构(MFIs)发展的文献综述

微型金融机构(MFIs)在迅猛发展的同时也引发了争议:MEIs是否产生了良好的社会影响,特别是对赤贫的人而言;追求可持续性的商业化演进,是否会导致MFIs脱离社会扶贫的初衷;更进一步,从保障MFIs社会扶贫功能的角度,该如何进行制度和机制的建设.     

经营环境对微型金融机构社会扶贫功能影响的实证分析

本义分析268家MFIs的时间序列数据表明．在MFIs的扶贫广度增加的同时，其扶贫深度却在下降。进一步地利用1027家MFIs2009年的数据对可能影响MFIs社会扶贫功能的内、外部环境因素进行了实证分析，得到的结论是：正式的法律组织形式会抑制MFIs的扶贫广度：采取金融中介组纵形式、发展规模更大以及定位于低端客户的MFIs，其扶贫广度也更大。而正式的法律组织形式和严格的监管都会抑制MFIs的扶贫深度；处于成熟阶段的MFIs，其扶贫深度会下降；但盈利能力更好、覆盖力更大的MFIs，其扶贫深度也更大。     

微型金融机构使命漂移的文献综述

微型金融机构(MFIs)作为一种为穷人服务的金融机构,社会扶贫是其建立的初衷.但商业化演进、规模扩张、贷款产品和贷款机制的设计以及委托代理等问题,都为MFIs发生使命漂移提供了动因.不过,只要建立健全保障机制,即便以财务可持续发展为目标,MFIs也不必然发生使命漂移.     

评级促进小额信贷机构商业化

小额信贷是国际社会普遍认可的一种成功的扶贫方式和金融发展手段,在发展中,小额信贷机构(MFIs)的可持续发展越来越成为共识.如果小额信贷机构的经营收入难以覆盖其资金成本,机构很难存续,更不用说提供金融服务了.小额信贷机构的可持续发展已经成为全世界普遍关注的问题.     

《微型金融机构社会扶贫功能研究》书评

<正>2014年2月,熊芳博士专著《微型金融机构社会扶贫功能研究——基于少数民族地区的数据和经验》一书由科学出版社出版发行。全书近22万字,是在熊芳博士所主持的国家社会科学青年基金项目《民族地区微型金融机构(MFIs)社会扶贫功能的保障机制研究》最终研究成果的基础上拓展而成的,也是中南民族大学经济学院《经济社会统筹发展研究丛书》之一。作为一种为贫困地区和贫困人群提供金融服务的     

微型金融机构使命漂移的实证分析--基于对湖北省恩施土家族苗族自治州的调研数据

本文利用SPSS17.0分析软件对恩施土家族苗族自治州的198份样本数据进行统计学分析和回归分析的结果表明,我国的微型金融机构（MFIs）出现了使命漂移的趋势。但MFIs使命漂移既有MFIs“利润驱动”的因素,也有贫困农户“主动放弃”和贷款给农户带来累积正面效应的因素。     

微型金融机构使命漂移的实证分析——基于对湖北省恩施土家族苗族自治州的调研数据

本文利用SPSS17.0分析软件对恩施土家族苗族自治州的198份样本数据进行统计学分析和回归分析的结果表明,我国的微型金融机构(MFIs)出现了使命漂移的趋势。但MFIs使命漂移既有MFIs"利润驱动"的因素,也有贫困农户"主动放弃"和贷款给农户带来累积正面效应的因素。     

社会帮扶的机制和体制探讨

贫困是现代社会广泛关注的一个问题,扶贫资金是否到位、是否真正落实直接影响着扶贫事业的成败,除政府拨付的资金以外,企业捐赠的公益性资金是缓解我国当前社会帮扶资金短缺的重要来源。帮困扶贫是建设和谐社会的重要内容,也是企业承担社会责任的重要表现,近年来,我国企业在帮困扶贫方面取得了瞩目的成就,但整体的公益捐赠水平仍然较低。本文对我国企业社会帮扶捐赠的现状及存在的问题进行了分析,并提出了建立健全社会帮扶机制与体制的对策措施。     

社会帮扶的机制和体制探讨

贫困是现代社会广泛关注的一个问题,扶贫资金是否到位、是否真正落实直接影响着扶贫事业的成败,除政府拨付的资金以外,企业捐赠的公益性资金是缓解我国当前社会帮扶资金短缺的重要来源。帮困扶贫是建设和谐社会的重要内容,也是企业承担社会责任的重要表现,近年来,我国企业在帮困扶贫方面取得了瞩目的成就,但整体的公益捐赠水平仍然较低。本文对我国企业社会帮扶捐赠的现状及存在的问题进行了分析,并提出了建立健全社会帮扶机制与体制的对策措施。     

精准扶贫与慈善捐赠——一个比较研究

精准扶贫与慈善捐赠是企业履行社会责任的重要方式,精准扶贫强调行政引导,慈善捐赠依靠市场自觉,其共性与个性是否产生经济后果差异有待进一步研究。本文以2016-2020年沪深A股非金融上市公司为样本,对企业精准扶贫与慈善捐赠的情况进行比较分析。研究发现,从企业特征出发,国有企业更加倾向于精准扶贫,非国有企业更加倾向于慈善捐赠;在经济动机方面,企业参与精准扶贫或慈善捐赠主要基于形象塑造、产业关联、政策压力和战略发展等动机;关于经济后果,相比于慈善捐赠,精准扶贫能够帮助企业获得更多更持续的长期贷款、媒体关注和广告效应,并且该效应在非国有企业更加显著。本文研究补充了自愿性社会责任与强制性社会责任差异等方面的文献,同时也表明精准扶贫是一项社会效应与经济效应“共赢”的战略部署。     

Religion of Islam and Microfinance: Does It Make Any Difference?

This study is the initial attempt to investigate first whether microfinance institutions (MFIs) perform differently in the OIC countries where Islam is the prevailing religion and second, how Islamic microfinance institutions are different (if any) from the conventional MFIs. To accomplish these objectives, we employ a dynamic difference and system-generalized method of moments estimators. Our findings tend to indicate that there are significant differences in the way Islamic MFIs performed and operated as compared to that of the conventional MFIs in certain regions. However, in other regions, there were no significant differences in operation and performance between the Islamic MFIs and Conventional MFIs. The study presents important insights for the Islamic microfinance managers and donors as well as the policy makers.     

International diversification and Microfinance

International commercial banks, institutional investors, and private investors have become increasingly interested in financing microfinance institutions (MFIs). This paper investigates whether adding microfinance funds to a portfolio of risky international assets yields diversification gains. By using mean-variance spanning tests with short-sale constraints, we find that investing in microfinance may be attractive for investors seeking a better risk-return profile. Specifically, the analysis suggests that investing in MFIs from Latin America, or microfinance and rural banks yields more efficient portfolios. In contrast, adding MFIs from Africa or microfinance NGOs to a portfolio of international assets is not beneficial for a mean-variance investor.     

NGOs and local MFIs—how to increase poverty reduction through women’s small and micro-enterprise

Most enterprises, from the smallest to the largest, need capital. Enterprise can play a crucial role in alleviating poverty. In developing economies, women’s role in alleviating poverty through enterprise has long been recognised, and they have been received as a client group. However, poor women lack the capital required for enterprise start-ups and although lending mechanisms exist in their economy, mainstream financial institutions are not oriented towards providing them with the funding they require. Microfinance generally refers to the provision of financial services (e.g.: savings, credit, insurance) to the poor, those who normally do not have access to formal financial institutions. Non-Governmental Organisations (NGOs) in India have promoted micro-finance through women’s self-help groups. However, the different institutional forms are not value-neutral and vested interests are involved. The interests of people and those of micro-financing institutions (MFIs) sometimes compete and conflict.If NGOs change their direction and become MFIs, there could be serious repercussions on development work at the field level. When funding support underlines financial viability, then the MFIs have to be competitive; poverty reduction and empowerment will suffer unless the institutions are also owned and managed by the poor. In this case, more investment in building their capacity is required. In the present phase of evolution of an entrepreneurial culture in India, financial support for NGOs to become MFIs is cheaper than policing a market economy and the real issue of the poor being left out by the market economy is ignored. NGOs can provide the leadership for greater structural reforms and do what they are best at: be facilitators, and create people’s institutions for micro-finance. In this way, the holistic development of people that should precede their involvement in small and micro-enterprise is more likely to occur.     

Loan recommender system for microfinance loans: Increasing efficiency to assist growth

A majority of the world's population does not have access to basic financial services. Therefore, financial inclusion is gaining attention from different governments, Non-governmental Organizations and private institutions. Microfinance Institutions (MFIs) have made a significant impact in the field of financial inclusion. But this impact is just the tip of the iceberg and these institutions need to grow exponentially and have efficient processes to have a more meaningful impact. In this article we discuss the design and implementation of a decision support system to help the MFIs achieve that target. We discuss an adaptive loan recommender system that assists the MFIs in making a more informed decision and help them grow with minimum resources. The article also discusses the implementation of this system in one MFI in India and the observed impact and limitations of the system.     

Microfinance institutions and International Financial Reporting Standards: An exploratory analysis

Previous studies analyzing firms’ incentives to choose international accounting standards show that firms with strong contracting incentives will be more likely to comply with International Financial Reporting Standards (IFRS). These studies are mostly centered on developed economies and are based on European and US data. Little is known about development finance organizations’ incentives to choose to draft their financial statements according to IFRS. Because commercialized microfinance institutions (MFIs) have strong contracting incentives, we investigate whether commercialization drives the choice of IFRS and study a pooled international sample of MFIs’ audited financial statements extracted from the MIX from 2007 to 2014. Consistent with our predictions, evidence shows that commercialization and maturity (age) are likely to drive the MFIs’ choice to comply with IFRS. Results are robust after controlling for heterogeneity in national regulations with regard to IFRS.     

Effect of Corporate Governance on Performance of Microfinance Institutions: A Case from Pakistan

ABSTRACT

We aim to assess the effect of corporate governance on the financial, economic, and social performance of microfinance institutions (MFIs) in Pakistan. The sample comprises twenty-five MFIs and covers their performance over five years, 2005–09. The results of the study indicate that governance variables do have an influence on the performance (economic and social) and productivity of the MFIs in Pakistan. Larger boards inversely affect the economic performance but have a positive effect on outreach and productivity. Presence of female directors does not play any role in improving economic performance but positively affects outreach. Duality of chair with CEO is a negative contributor to performance, outreach, and productivity. Firm size, experience, regulation of MFIs, and nonprofit activities in lending have positive effects on performance outreach and productivity.     

Scale economies and input price elasticities in microfinance institutions

We evaluate the efficiency of microfinance institutions (MFIs) using a structural approach which also captures these institutions’ outreach and sustainability objectives. We estimate economies of scale and input price elasticities for lending-only and deposit-mobilizing MFIs using a large sample of high-quality panel data. The results confirm conjectures that improvements in efficiency can come from the growth or consolidations of MFIs, as we find substantial increasing returns to scale for all but profitability-focused deposit-mobilizing MFIs. Our results support the existence of a trade-off between outreach and sustainability. All inputs are inelastic substitutes, but we find differences in own-price elasticities in lending-only and deposit-mobilizing MFIs.     

Microfinance institutions,financial intermediation and the role of deposits

Microfinance institutions (MFIs), widely regarded as bankers to the poor, have extended their financial functions beyond lending to managing deposits. We empirically examine the influence of MFI deposit-taking on MFI financial performance. Using data of 1,301 MFIs worldwide, we find that an MFI's deposit level is an important determinant of its financial viability. However, the relationship is influenced by MFIs’ institutional type (for-profit or nonprofit) and the legal environment (common law or civil law). The results suggest that the positive financial impact of deposits has not been fully realised, reflecting the need to further improve cost management and revenue generation.     

Profit status of microfinance institutions and incentives for earnings management

We theorize that for-profit microfinance institutions (MFIs) have higher incentives to use earnings management techniques when compared to their not-for-profit counterparts. Indeed, we show empirically that, when facing a distress period, for-profit MFIs are more likely to recognize impairment loan loss provisions than not-for-profit ones in about 0.8% of assets. This is consistent with the notion that those institutions are employing “big bath” accounting practices. Finally, using the 2008 crisis as an exogenous shock and country-level recessions as an exogenous measure of distress, we replicate our results.