Does Religious Affiliation Influence the Design of Corporate Governance? Evidence from the Global Microfinance Industry

Kwame Ohene Djan and Roy Mersland
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Roy Mersland: UIA - University of Agder

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Abstract: Does religious affiliation influences the governance choices of firms? Using data from the global microfinance industry we theorize that Christian Microfinance Institutions (MFIs) should have slacker governance compared with secular MFIs. Our overall results indicate that Christian MFIs do not have a slacker governance design. For instance, Christian MFIs tend to have higher audit quality and a significantly higher number of board meetings compared with secular MFIs. The tests indicate, however, that Christian MFIs are relatively less regulated by national banking authorities.

Keywords: Religion; Corporate Governance; Microfinance Institutions; Christian Organizations; Religion Corporate Governance Microfinance Institutions Christian Organizations (search for similar items in EconPapers)
Date: 2017
Note: View the original document on HAL open archive server: https://hal.science/hal-05221007v1
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Published in Strategic Change, 2017, 26 (2), pp.101-116. ⟨10.1002/jsc.2113⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05221007

DOI: 10.1002/jsc.2113

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