Gouvernance et notation des institutions de microfinance: Une étude empirique des institutions de microfinance africaines

Hubert Tchakoute Tchuigoua

ACCRA, 2012, vol. 18, issue 1, 153-182

Abstract: The aim of the paper is to empirically test the relationship between governance mechanisms and the rating of microfinance institutions in Africa. We study the in?uence of the board size, audit quality, regulation and legal status using multiple ordinal logistic regressions on a sample of 112 microfinance institutions rated between 2002 and 2007. Due to a potential selection bias, the two-step Heckman (1979) selection model procedure is used to test the robustness of our findings. The results show that, all governance mechanisms, except for regulation, are not relevant in the rating of MFIs. However, the rating score is explained by greater operational self-sufficiency, that is to say, the ability of MFIs to cover operating expenses by its financial revenues, and by its profitability. Furthermore, our findings suggest that the ratings are significantly associated with higher outreach of MFIs.

Keywords: governance; microfinance; ratings; Africa (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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