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Microcredit in Developed Countries: Unexpected Consequences of Loan Ceilings
Szafarz, Ariane; Cozarenco, Anastasia - Centre Emile Bernheim, Solvay Brussels School of … - 2014
aboveceiling share of the loan with a regular bank, and getting a ceiling-high loan from the MFI. Co-financing is attractive to …
Persistent link: https://www.econbiz.de/10010791581
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Women’s Access to Credit in France: How Microfinance Institutions Import Disparate Treatment from Banks
Szafarz, Ariane; Cozarenco, Anastasia - Centre Emile Bernheim, Solvay Brussels School of … - 2013
This paper compares the loans granted to male and female entrepreneurs by a French microfinance institution (MFI). The sample period is split in two: before and after the MFI implemented France's regulatory EUR 10,000 loan ceiling. In the first period, the MFI does not co-finance projects with...
Persistent link: https://www.econbiz.de/10010736404
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Gender Biases in Bank Lending: Lessons from Microcredit in France
Szafarz, Ariane; Cozarenco, Anastasia - Centre Emile Bernheim, Solvay Brussels School of … - 2015
the ceiling is associated both with bank-MFI co-financing and with harsher treatment of female borrowers. To investigate …
Persistent link: https://www.econbiz.de/10011185443
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Rational Dividend Addiction in Banking
D'Udekem, Benoît - Centre Emile Bernheim, Solvay Brussels School of … - 2014
Banks cut dividends with great reluctance, as if addicted to them. Their apparent addiction is a major cause of concern for regulators because it could endanger the whole banking system. However, banks may be rational in maintaining elevated dividends if agency costs are high and dividends...
Persistent link: https://www.econbiz.de/10010944625
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What macro factors make microfinance institutions reach out?
Vanroose, Annabel - Centre Emile Bernheim, Solvay Brussels School of … - 2008
This paper identifies factors that explain why microfinance institutions are reaching more clients in some countries than in others. To that end, the paper applies a cross-country analysis on a unique dataset covering 115 countries. Results indicate that the microfinance sector is more present...
Persistent link: https://www.econbiz.de/10005357835
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Is Automotive Leasing a Risky Business?
Schmit, Mathias - Centre Emile Bernheim, Solvay Brussels School of … - 2003
Persistent link: https://www.econbiz.de/10005146701
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Comment on the proposed CRD amendment on significant risk transfer
Peters, Marc; Pirotte, Hugues - Centre Emile Bernheim, Solvay Brussels School of … - 2008
the risk transfer in the context of securitisation operations. It will demonstrate that the onus should be put on an … economic approach to significant risk transfer rather than a mechanical approach, the latter being less capable of apprehending … the various risk profiles a securitisation transaction might take. …
Persistent link: https://www.econbiz.de/10005146702
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Subsidy Uncertainty and Microfinance Mission Drift
Szafarz, Ariane; Armendariz, Beatriz; D'Espallier, Bert; … - Centre Emile Bernheim, Solvay Brussels School of … - 2011
This paper shines light on subsidy-dependent microfinance institutions (MFIs). Firstly, our model shows that subsidy uncertainty can have pervasive effects on MFIs’ poverty-reduction mission. In particular, we argue that supply-driven uncertainty can lead to mission drift. MFIs maximize...
Persistent link: https://www.econbiz.de/10009645491
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Unsubsidized Microfinance Institutions
Szafarz, Ariane; D'Espallier, Bert; Hudon, Marek - Centre Emile Bernheim, Solvay Brussels School of … - 2013
This paper starts from the observation that 23% of the world’s microfinance institutions (MFIs) manage without subsidies. We examine how unsubsidized institutions cope with their social mission. Overall, the lack of subsidies worsens social performances. However, our results show that...
Persistent link: https://www.econbiz.de/10010609994
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Credit risk analysis in microcredit: How does gender matter?
Marrez, Helena; Schmit, Mathias - Centre Emile Bernheim, Solvay Brussels School of … - 2009
This paper is the first to analyze the credit risk of a microfinance institution based on the loan portfolio of a … estimate the probability density function of losses and value-at-risk measures for a portfolio of loans granted to female and … diversification effects, where we find that the proportion of diversifiable risk in total risk is bigger for portfolios of loans …
Persistent link: https://www.econbiz.de/10008544640