Since 1989 and the regionalization of public transports in Belgium, the Société des transports intercommunaux de Bruxelles (STIB), i.e. the public operator of urban transport in Brussels, has undergone many changes, both structural and organizational. Meanwhile, the company has managed to...

The question this article seeks to answer is whether the relationship between legal status and performance is influenced by the geographical area to which the MFI belongs, as postulated in some work. To this end, we study a sample of 202 MFIs in the period 2001 to 2006. The results show that in...

Many studies have underlined the detrimental impact of local political risk on foreign direct investment inflows. In this paper, we argue that that relationship depends on the global volume of FDI. After providing a simple model and theoretical arguments suggesting that the relationship should...

In the world of microfinance, interest rate ethics is an important issue, thrown into the limelight by the Initial Public Offering of Compartamos which resulted in millions of dollars of gains, some of which found their way into private pockets. These high gains were based on high interest...

Inclusive financial sectors are essential in terms of poverty alleviation. While microcredit can be governed as a private good, self-managed civil society organizations propose an alternative way of managing financial services. Brazil's Community Development Banks (CDBs) are a growing and...

Being a member of the thriving ASEAN and successfully implementing economic renovation (Doi Moi) have drawn the world's attention on Vietnam around the turn of the millennium. Some even expected a much faster pace of transformation, and renewed economic, AND political, reforms in Vietnam, or Doi...

This paper uses a unique database from a leading microfinance rating agency to assess the impact of management on the functioning of microfinance institutions (MFIs). It focuses on MFIs’ financial performance, and on the level of subsidies received. The results show that the management skills...

We use an innovative methodology to analyze social responsibility in double bottom line institutions such as microfinance institutions. We provide empirical evidence on the distribution of the generated surplus between the key stakeholders of one of the most famous MFIs worldwide: Banco...