International commercial banks, institutional investors, and private investors have become increasingly interested in financing microfinance institutions (MFIs). This paper investigates whether adding microfinance funds to a portfolio of risky international assets yields diversification gains....

The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features...

In this study we show that Microfinance Institutions (MFIs) with more powerful CEOs have higher performance variability. A powerful CEO is defined as one that also chairs the board of directors. CEO power is reflected in higher performance variability if CEOs have more latitude of action, i.e....

International commercial banks, institutional investors, and private investors have become increasingly interested in financing microfinance institutions (MFIs). This paper investigates whether adding microfinance funds to a portfolio of risky international assets yields diversification gains....