{"title":"Do Microfinance Rating Assessments Make Sense? An Analysis of the Drivers of the MFI Ratings","authors":"R. Mersland, Leif Atle Beisland","doi":"10.2139/ssrn.1786488","DOIUrl":"https://doi.org/10.2139/ssrn.1786488","url":null,"abstract":"Rating assessments of microfinance institutions are claimed to measure a combination of creditworthiness, trustworthiness and excellence in microfinance. Using a global dataset covering reports from 324 microfinance institutions, this study suggests that these ratings are mainly driven by size, profitability, and risk. The ratings do not seem to capture the double bottom-line objective of microfinance institutions, as our analyses are unable to prove any statistical relationship between microfinance ratings and the social objectives of these institutions. Moreover, the association between operational efficiency and microfinance ratings appears weak. Although there are some minor differences between the rating agencies, the overall results suggest that microfinance ratings convey information very similar to that communicated by traditional credit ratings.","PeriodicalId":430390,"journal":{"name":"SRPN: Microfinance (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132643904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do Powerful CEOs Have an Impact on Microfinance Performance?","authors":"Rients Galema, R. Lensink, R. Mersland","doi":"10.2139/ssrn.1441985","DOIUrl":"https://doi.org/10.2139/ssrn.1441985","url":null,"abstract":"In this study we show that Microfinance Institutions (MFIs) with more powerful CEOs have higher performance variability. A powerful CEO is defined as one that also chairs the board of directors. CEO power is reflected in higher performance variability if CEOs have more latitude of action, i.e. managerial discretion. Managerial discretion can be limited by having stakeholder electives on the board. We find that CEO power only has an effect on MFI performance variability when there are no stakeholder electives on the board. Furthermore, we argue that CEOs in non-profit MFIs have more discretion, because their dual mission implies their CEOs are harder to control. We find that CEO power increases performance variability of non-profit MFI’s, while it has no effect for other MFI types.","PeriodicalId":430390,"journal":{"name":"SRPN: Microfinance (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124392954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do Spouses Make Claims? Health Seeking and Microfinance In India","authors":"A. Rai, S. Ravi","doi":"10.2139/ssrn.1424823","DOIUrl":"https://doi.org/10.2139/ssrn.1424823","url":null,"abstract":"We study a micro-finance program that provides compulsory health insurance to its borrowers and their spouses. We find that the non-borrowing spouses are less likely to file insurance claims than those who are borrowing. Further, a man is more likely to use the health insurance acquired through his wife's loan than is a woman (through her husband's loan). These patterns suggest that women who do not borrow are disempowered relative to those that do.","PeriodicalId":430390,"journal":{"name":"SRPN: Microfinance (Topic)","volume":"53 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116312449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do Interest Rates Matter? Credit Demand in the Dhaka Slums","authors":"Rajeev Dehejia, J. Morduch, Heather Montgomery","doi":"10.2139/ssrn.1396062","DOIUrl":"https://doi.org/10.2139/ssrn.1396062","url":null,"abstract":"If the demand for credit by the poor changes little when interest rates increase, lenders can raise fees to cost-covering levels without losing customers. This claim is at the core of sustainable microfinance strategies that aim to provide banking services to the poor while eschewing long-term subsidies, but, so far, there is little direct evidence of this. This paper uses data from SafeSave, a credit cooperative in the slums of Dhaka, Bangladesh, to examine how sensitive borrowers are to increases in the interest rate on loans. Using unanticipated between-branch variation in the interest rate we estimate interest elasticities of loan demand ranging from -0.73 to -1.04. Less wealthy accountholders are more sensitive to the interest rate than (relatively) wealthier borrowers (an elasticity of -0.86 compared to -0.26), and consequently the bank’s portfolio shifts away from its poorest borrowers when it increases the interest rate.","PeriodicalId":430390,"journal":{"name":"SRPN: Microfinance (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2005-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130771748","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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