Governance Practices and Crisis of Microfinance Institutions in Benin

Pratiques de Gouvernance et Crise des Institutions de Microfinance au Bénin

Denis Acclassato Houensou () and Godefroy Goudjo ()
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Denis Acclassato Houensou: UAC - Université d’Abomey-Calavi = University of Abomey Calavi
Godefroy Goudjo: UAC - Université d’Abomey-Calavi = University of Abomey Calavi, UTS - Université Thomas Sankara

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Abstract: Microfinance has fundamentally improved access to credit for the poor. However, their activity requires a mode of governance that guarantees their sustainability. But agency problems appear depending on the forms of organization. In practice, the resulting management methods often result in poor performance. The accumulation of underperformance leads to crises. Governance thus finds itself at the heart of contemporary debates because it affects the results of institutions. The article analyzes the effect of governance on outcomes using agency theory. The results show that incentive systems weaken governance modes and lead to poor performance which leads to crises.

Keywords: Corporate governance; agency theory; microfinance institution; Gouvernance d'entreprise; théorie de l'agence; institution de microfinance (search for similar items in EconPapers)
Date: 2012-03
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Published in Techniques financières et développement, 2012, 106

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04496656

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