Le risque occupe aujourd’hui une place importante dans de nombreux domaines dont, par exemple, la sociologie, l’écologie, l’économie et la finance ou, de manière particulièrement aiguë, la sécurité publique. Il a émergé comme une préoccupation politique majeure dans de nombreux...

This article studies the role of norms and values in the microfinance sector. Microfinance projects implemented in India use a wide range of different organizational structures. A classification of the sector is proposed, mapping the institutions along two axes: the profit motive (profit vs....

Fair prices have been recently addressed through debates on fair trade or fair wage. This paper addresses the fairness of credits to the poor. It first analyzes a few definitions of fair interest rates. It then determines the extent of the ‘just’ range of a price, its major constraints and...

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...

In recent years, large numbers of developing and transitional countries have ex¬peri¬enced situations of crisis, following political, economic or natural disasters, or total crisis, triggered by war or totalitarian oppression. The goal of this article is to study the role of member-owned...

Discussion on financial ethics increasingly includes the problem of exclusion of the poorer segments of society from the financial system and access to credit. This paper explores the ethical dimensions surrounding the concept of a human right to credit. If access to credit is directly...

Parmi les facteurs contingents du taux de remboursement des microcrédits, la responsabilité solidaire des emprunteurs est peu analysée dans les études empiriques. Grâce à la constitution d’une base de données originale, cet article s’attache à estimer l’impact des facteurs...

What are the drivers of productivity surplus distribution to microfinance stakeholders? This paper shows that the size of the institution is the main indicator that can explain the gain in productivity surplus but also the surplus given to clients (decrease of interest rates) and staff....

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...

Purpose – The paper aims to study the role of norms and values in the microfinance sector. Design/methodology/approach – The paper provides a combination of narrative with argument and analysis. Findings – A classification of the sector is proposed, mapping the institutions along two axes:...