{"title":"撒哈拉以南非洲国家农业信贷的规模效应、机构治理和小额信贷的可持续性","authors":"Arsène Mba Fokwa","doi":"10.1108/afr-12-2023-0165","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>The study examines the synthesized influences of institutional governance and the scale effects of agricultural credits on the sustainability of microfinance institutions (MFIs) in Sub-Saharan Africa.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>Using a sample of 840 MFIs (300 independent and 540 networked), the study applied Generalized Method of Moments (GMM) and Lewbel’s estimator.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>Results indicate positive effects of financial structure, efficiency and agricultural credit scale on sustainability, with a non-linear U-shaped relationship between agricultural credit size and microfinance sustainability. Depending on institutional governance quality, a threshold is identified where agricultural credit scale significantly enhances the quality of Portfolio at Risk (lnPAR) in independent MFIs and Returns on Assets (lnROA) in networked MFIs.</p><!--/ Abstract__block -->\n<h3>Research limitations/implications</h3>\n<p>Study suggests strengthening governance for transparency and operating within optimal size for enduring sustainable performance. 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引用次数: 0
摘要
研究结果研究结果表明，金融结构、效率和农业信贷规模对可持续性具有积极影响，农业信贷规模与小额信贷可持续性之间存在非线性 U 型关系。根据机构治理质量，确定了一个阈值，在该阈值下，农业信贷规模可显著提高独立小额金融机构的风险投资组合质量（lnPAR）和网络化小额金融机构的资产回报率（lnROA）。实际意义小额信贷机构可以通过实施以更好的制度规范为指导的管理、更适合为农业活动和技术提供资金的创新金融变革以及与其绩效目标更加一致的组织结构来实现可持续性。社会影响更广泛、更可靠地获得金融服务，尤其是农业部门的金融服务，可以刺激生产，减轻贫困。原创性/价值本研究的原创性在于其对文献的贡献，研究了机构管理在小额信贷机构绩效中的作用，并在更广泛的撒哈拉以南非洲背景下评估了小额信贷，提出了农业小额信贷影响绩效的临界限度。
The scale effects of agricultural credits, institutional governance and microfinance sustainability in Sub-Saharan African countries
Purpose
The study examines the synthesized influences of institutional governance and the scale effects of agricultural credits on the sustainability of microfinance institutions (MFIs) in Sub-Saharan Africa.
Design/methodology/approach
Using a sample of 840 MFIs (300 independent and 540 networked), the study applied Generalized Method of Moments (GMM) and Lewbel’s estimator.
Findings
Results indicate positive effects of financial structure, efficiency and agricultural credit scale on sustainability, with a non-linear U-shaped relationship between agricultural credit size and microfinance sustainability. Depending on institutional governance quality, a threshold is identified where agricultural credit scale significantly enhances the quality of Portfolio at Risk (lnPAR) in independent MFIs and Returns on Assets (lnROA) in networked MFIs.
Research limitations/implications
Study suggests strengthening governance for transparency and operating within optimal size for enduring sustainable performance. While focused on Sub-Saharan Africa, future research could expand to various economies or introduce additional variables for a comprehensive analysis.
Practical implications
MFIs can achieve sustainability by implementing management guided by better institutional norms, innovative financial transformations better suited to financing agricultural activities and techniques and an organizational structure more aligned with their performance targets.
Social implications
Broader and more reliable access to financial services, particularly in the agricultural sector, can stimulate production and alleviate poverty.
Originality/value
The study’s originality lies in its contribution to the literature by examining the role of institutional governance in microfinance institution performance and evaluating microfinance in a broader Sub-Saharan African context, proposing threshold limits where agricultural microcredit compromises performance.
期刊介绍：
Agricultural Finance Review provides a rigorous forum for the publication of theory and empirical work related solely to issues in agricultural and agribusiness finance. Contributions come from academic and industry experts across the world and address a wide range of topics including: Agricultural finance, Agricultural policy related to agricultural finance and risk issues, Agricultural lending and credit issues, Farm credit, Businesses and financial risks affecting agriculture and agribusiness, Agricultural policies affecting farm or agribusiness risks and profitability, Risk management strategies including the use of futures and options, Rural credit in developing economies, Microfinance and microcredit applied to agriculture and rural development, Financial efficiency, Agriculture insurance and reinsurance. Agricultural Finance Review is committed to research addressing (1) factors affecting or influencing the financing of agriculture and agribusiness in both developed and developing nations; (2) the broadest aspect of risk assessment and risk management strategies affecting agriculture; and (3) government policies affecting farm profitability, liquidity, and access to credit.
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