دانلود مقاله ISI انگلیسی شماره 51866
ترجمه فارسی عنوان مقاله

ارتباط بین نمرات امتیازهای قرضه های کوچک و حاکمیت شرکتی: بررسی جهانی

عنوان انگلیسی
The Association between microfinance rating scores and corporate governance: a global survey
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
51866 2014 13 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : International Review of Financial Analysis, Volume 35, October 2014, Pages 268–280

ترجمه کلمات کلیدی
تامین مالی خرد؛ حاکمیت شرکتی؛ امتیاز رتبه؛ عملکرد مالی؛ عملکرد اجتماعی
کلمات کلیدی انگلیسی
Microfinance; Corporate governance; Rating score; Financial performance; Social performance
پیش نمایش مقاله
پیش نمایش مقاله  ارتباط بین نمرات امتیازهای قرضه های کوچک و حاکمیت شرکتی: بررسی جهانی

چکیده انگلیسی

The global microfinance industry has experienced high growth rates over the past decades, and the World Bank foresees a future market with billions of customers. However, the industry's continued growth is contingent on its ability to create a governance structure that supports microfinance institutions' long-term performance. Because microfinance institutions' performance is multidimensional and difficult to measure, prior research has not been successful in establishing consistent associations between governance structures and microfinance institutions' performance. We apply microfinance rating scores – a unique innovation of the microfinance industry – as a summary performance metric and find that several governance metrics are related to microfinance performance. Specifically, we find that CEO/Chair duality has a negative relation to rating scores, whereas the number of international board directors, the presence of internal auditors and the level of competition intensity are positively associated with rating scores. These findings should prove useful in an industry in which there is no established ‘best set-up’ for governance mechanisms.