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Performance and international investments in microfinance institutions

Roy Mersland and Ludovic Urgeghe

No 11-054, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: Using data from 319 microfinance institutions (MFIs) in 68 developing countries, we study the degree to which international debt investments are related to the financial and social performances of MFIs. We find that commercial investments are mainly related to financial performance and level of professionalisation of the MFIs. The targeting of women is not a priority, even though international commercial investors target MFIs that provide small loans. Subsidised investments, however, are mainly driven by the targeting of women, while financial performance and the level of professionalisation of the MFI is not a priority.

Keywords: microfinance,; commercialisation; socially responsible investors; microfinance investment vehicles; social performance (search for similar items in EconPapers)
JEL-codes: G11 G23 L20 O16 O17 (search for similar items in EconPapers)
Pages: 31 p.
Date: 2011-11
New Economics Papers: this item is included in nep-cfn and nep-mfd
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