408
Views
5
CrossRef citations to date
0
Altmetric
Articles

Start-up microenterprise financing and financial performance of microfinance institutions

&
Pages 183-206 | Received 23 Apr 2020, Accepted 22 Oct 2020, Published online: 26 Aug 2021

References

  • Abdullah, S., and S. Quayes. 2016. “Do Women Borrowers Augment Financial Performance of MFIs?” Applied Economics 48 (57): 5593–5604. DOI: 10.1080/00036846.2016.1181831
  • Adeleye, N., and C. Eboagu. 2019. “Evaluation of ICT Development and Economic Growth in Africa.” NETNOMICS: Economic Research and Electronic Networking 20 (1): 31–53.
  • Adusei, M. 2019. “Board Gender Diversity and the Technical Efficiency of Microfinance Institutions: Does Size Matter?” International Review of Economics and Finance 64: 393–411. DOI: 10.1016/j.iref.2019.07.008.
  • Afrifa, G. A., E. Gyapong, and A. M. Zalata. 2019. “Buffer Capital, Loan Portfolio Quality and the Performance of Microfinance Institutions: A Global Analysis.” Journal of Financial Stability 44 (2019): 100691.
  • Ahlin, C., J. Lin, and M. Maio. 2011. “Where Does Microfinance Flourish? Microfinance Institution Performance in Macroeconomic Context.” Journal of Development Economics 95: 105–120.
  • Arellano, M., and S. Bond. 1991. “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.” Review of Economic Studies 58 (2): 277–297.
  • Arellano, M., and O. Bover. 1995. “Another Look at the Instrumental Variable Estimation of Error-Components Models.” Journal of Econometrics 68 (1): 29–51.
  • Banerjee, A., E. Duflo, R. Glennerster, and C. Kinnan. 2010. The Miracle of Microfinance? Evidence From a Randomized Evaluation. MIT Department of Economics and Abdul Latif Jameel Poverty Action Lab (JPAL).
  • Bauchet, J., and J. Morduch. 2013. “Is Micro Too Small? Microcredit vs. SME Finance.” World Development 43: 288–297.
  • Beck, T., L. Lu, and R. Yang. 2015. “Finance and Growth for Microenterprises: Evidence from Rural China.” World Development 67: 38–56.
  • Beck, T., P. Behr, and A. Guettler. 2013. “Gender and Banking: Are Women better Loan Officers?” Review of Finance 17: 1279–1321.
  • Bhatt, N., and S. Y. Tang. 2001. “Designing Group-Based Microfinance Programmes: Some Theoretical and Policy Considerations.” International Journal of Public Administration 24 (10): 1103–1125.
  • Blundell, R., and S. Bond. 1998. “Initial Conditions and Moment Restrictions in Dynamic Panel Data Models.” Journal of Econometrics 87 (1): 115–143.
  • Caserta, M., S. Monteleone, and F. Reito. 2018. “The Tradeoff Between Profitability and Outreach in Microfinance.” Economic Modelling 72: 31–41.
  • Cole, R. 2010. Bank Credit, Trade Credit or No Credit? Evidence from the Surveys of Small Business Finances. U.S. Small Business Administration Research. Study No.365.
  • Cole, R., and T. Sokolyk. 2018. “Debt Financing, Survival, and Growth of Start-up Firms.” Journal of Corporate Finance 50: 609–625.
  • Cre' Pon, B., F. Devoto, E. Duflo, and W. Pariente'. 2011. Impact of Microcredit in Rural Areas of Morocco: Evidence from a Randomized Evaluation. Massachusetts Institute of Technology.
  • Cull, R., A. DemirgüC, and J. Morduch. 2007. “Financial Performance and Outreach: A Global Analysis of Lending Microbanks.” The Economic Journal 117 (517): F107–F133.
  • De Mel, S., D. J. McKenzie, and C. Woodruff. 2009. “Measuring Microenterprise Profits: Must We Ask How the Sausage is Made?” Journal of Development Economics 88 (1): 19–31.
  • Dodlova, M., K. Göbel, M. Grimm, and J. Lay. 2015. “Constrained Firms, Not Subsistence Activities: Evidence on Capital Returns and Accumulation in Peruvian Microenterprises.” Labour Economics 33: 94–110.
  • Fafchamps, M. 1999. Rural Poverty, Risk, and Development. Food and Agricultural Organization.
  • Fall, F., A. Akim, and H. Wassongma. 2018. “DEA and SFA Research on the Efficiency of Microfinance Institutions: A Meta-Analysis.” World Development 107: 176–188.
  • Fernando, N. A. 2006. Understanding and Dealing with High Interest Rates on Microcredit: A Note to Policy Makers in the Asia and Pacific Region. Manila, Philippines: Asian Development Bank.
  • Gakhar, K., and Meetu. 2013. “Financial Performance and Outreach of Microfinance Institutions: Is There a Tradeoff? An Empirical Study of the Indian Economy.” Sona Global Management Review 7 (4): 1–7.
  • Hartarska, V., X. Shen, and R. Mersland. 2013. “Scale Economies and Input Price Elasticities in Microfinance Institutions.” Journal of Banking and Finance 37 (1): 118–131.
  • Helms, B., and X. Reille. 2004. “Interest Rate Ceilings and Microfinance: The Story so Far.” CGAP Occasional Paper No. 9. https://www.cgap.org
  • Hermes, N., R. Lensink, and A. Meesters. 2011. “Outreach and Efficiency of Microfinance Institutions.” World Development 39 (6): 938–948.
  • Hoque, M. Z. 2004. “Stagnated Growth of Microenterprises and Flawed Role of Credit NGOS: evidence from Bangladesh.” Humanomics 20 (1): 32–39.
  • IFC (International Finance Corporation). 2014. Experiences of Microfinance Institutions Serving Very Small to Small Enterprises in Latin America. Washington, DC: IFC.
  • Iqbal, S., A. Nawaz, and S. Ehsan. 2019. “Financial Performance and Corporate Governance in Microfinance: Evidence from Asia.” Journal of Asian Economics 60: 1–13.
  • Kar, A. K. 2012. “Does Capital and Financing Structure Have Any Relevance to the Performance of Microfinance Institutions?” International Review of Applied Economics 26 (3): 329–348.
  • Karnani, A. 2007. Microfinance Misses Its Mark, 34–40. Stanford Social Innovation Review.
  • Kaur, P. 2016. “Efficiency of Microfinance Institutions in India: Are They Reaching the Poorest of the Poor?” Vision: The Journal of Business Perspective 20 (1): 54–65.
  • Ledgerwood, J. 1999. Microfinance Handbook: An Institutional and Financial Perspective (Sustainable Banking with the Poor). Washington, DC: World Bank.
  • Ledgerwood, J., J. Earne, and C. Nelson. 2013. The New Microfinance Handbook: A Financial Market System Perspective. Washington, DC: World Bank.
  • Mahmood, S. 2011. “Microfinance and Women Entrepreneurs in Pakistan.” International Journal of Gender and Entrepreneurship 3 (3): 265–274.
  • Matemilola, B. T., A. N. Bany-Ariffin, W. N. W. Azman-Saini, and Md N. Annuar. 2019. “Impact of Institutional Quality on the Capital Structure of Firms in Developing Countries.” Emerging Markets Review 39: 175–209.
  • Mersland, R., and R. Ø. Strøm. 2009. “Performance and Governance in Microfinance Institutions.” Journal of Banking and Finance 33 (4): 662–669.
  • Mersland, R., and R. Ø. Strøm. 2013. “Microfinance: Costs, Lending Rates, and Profitability.” In Handbook of Key Global Financial Markets, Institutions, and Infrastructure, edited by Gerard Caprio and Douglas Arner, 1–18. Boston: Oxford, Elsevier Inc.
  • Mersland, R., and L. Urgeghe. 2013. “International Debt Financing and Performance of Microfinance Institutions.” Strategic Change 22 (1–2): 17–29.
  • Nawai, N., and M. N. M. Shariff. 2011. “The Importance of Micro Financing to the Microenterprises Development in Malaysia’s Experience.” Asian Social Science 7 (12): 226–238.
  • Nyanzu, F., J. A. Peprah, and A. G. Ayayi. 2019. “Regulation, Outreach, and Sustainability of Microfinance Institutions in Sub-Saharan Africa: A Multilevel Analysis.” Journal of Small Business Management 57 (Suppl 2): 200–217.
  • Phillips, C., and S. Bhatia-Panthaki. 2007. “Enterprise Development in Zambia: Reflections on the Missing Middle.” Journal of International Development 19 (6): 793–802.
  • Pollinger, J. J., J. Outhwaite, and H. Cordero-Guzmán. 2007. “The Question of Sustainability for Microfinance Institutions.” Journal of Small Business Management 45 (1): 23–41.
  • Quayes, S. 2015. “Outreach and Performance of Microfinance Institutions: A Panel Analysis.” Applied Economics 47 (18): 1909–1925.
  • Rallen, T., and S. M. Ghazanfar. 2006. “Microfinance: Recent Experience, Future Possibilities.” The Journal of Social, Political and Economic Studies 31 (2): 197–212.
  • Roberts, P. W. 2013. “The Profit Orientation of Microfinance Institutions and Effective Interest Rates.” World Development 41: 120–131.
  • Roodman, D. 2009. “How to Do xtabond2: An Introduction to Difference and System GMM in Stata.” The Stata Journal 9 (1): 86–136.
  • Sengupta, R., and C. Aubuchon. 2008. “The Microfinance Revolution: An Overview.” Federal Reserve Bank of St Louis Review January/February: 9–30.
  • Simeyo, O., L. Martin, N. R. Nyamao, P. Ojera, and A. J. Odondo. 2011. “Effect of Provision of Micro Finance on the Performance of Micro Enterprises: A Study of Youth Micro Enterprises under Kenya Rural Enterprise Program (K-REP), Kisii County, Kenya.” African Journal of Business Management 5 (20): 8290–8300.
  • Sokunthea, H. 2017. “Central Bank Sets Interest Rate Ceiling, Sparking Fears.” The Cambodia Daily.
  • Ssendi, L., and A. R. Anderson. 2009. “Tanzanian Micro Enterprises and Micro Finance: The Role and Impact for Poor Rural Women.” The Journal of Entrepreneurship 18 (1): 1–19.
  • Stiglitz, J. E. 1990. “Peer Monitoring and Credit Markets.” The World Bank Economic Review 4 (3): 351–366.
  • Strøm, R. O., B. D’Espallier, and R. Mersland. 2014. “Female Leadership, Performance, and Governance in Microfinance Institutions.” Journal of Banking & Finance 42: 60–75.
  • Tchuigoua, H. T. 2014. “Performance of Microfinance Institutions: Do Board Activity and Governance Ratings Matter?” Finance 35 (3): 7–52.
  • Xu, S., J. Copestake, and X. Peng. 2016. “Microfinance Institutions’ Mission Drift in a Macroeconomic Context.” Journal of International Development 28 (7): 1123–1137.
  • Yunus, M. 1999. Banker to the Poor. New York: Public Affairs.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.