Machauer, Achim; Schiereck, Dirk - In: Annals of Public and Cooperative Economics 75 (2004) 2, pp. 319-337
The traditional business focus of credit co-operatives is locally oriented and business success is explained by the efficient way to induce monitoring of borrowers. Church-based credit co-operatives in Germany are not that locally oriented but were extraordinary successful over the last decades....
