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The Handbook of Microfinance by Beatriz Armendariz,Marc Labie Pdf
Handbook of Microfinance addresses the gap between clients who are benefiting from access to financial services via MFIs, and the potential market, which remains underserved or untapped. This gap can be attributed to a "mismatch" between what consumers, or potential clients, demand and what MFIs offer in terms of financial products. The scope of the book is wide. It includes successes and failures, main challenges and debates, methodologies for impact evaluation via random trials, leading trends in Asia versus Latin America, main efforts in Africa, the importance of value chains in Central America, ethical and gender issues, savings, microinsurance, governance, commercialization trends and the potential advantages and disadvantages of it. Lastly it features main lessons from informal finance and 19th-century credit cooperatives addressing the above-mentioned mismatch.
Investments in microfinance by institutional investors are growing. The investors benefit from a dual return investment opportunity by balancing financial and social returns. Yet, commercial microfinance institutions tend to focus on their financial performance. Reaching out to wealthier clients while crowding out poorer clients enhances their profitability - a phenomenon called mission drift.Pim Engels has analysed the data of 600 microfinance institutions operating in 84 countries and presents now new insights to the phenomenon of mission drift. Based on his findings investors can recognise and prevent mission drift taking place amongst the microfinance institutions in their portfolio.
Commercial Investments and Mission Drift in Microfinance by Marc Moser Pdf
The microfinance sector has witnessed various controversies and criticisms recently as a consequence of its commercialization and the related involvement of international investors. Against this background, the qualitative case study reported on examines the perceptions of stakeholders from the Swiss microfinance investment network. How do the various investor-related stakeholder groups perceive the motivation to become engaged in microfinance, the mission drift issue and the current state and potentials of mutual value creation? The findings suggest that common ground on fundamental questions facilitates superior mutual value creation among the investigated stakeholders. Implications include the need for enhanced coordination between private and public stakeholders.
A Christianity Today 2015 Book Award Winner Is your organization in danger of Mission Drift? Without careful attention, faith-based organizations drift from their founding mission. It's that simple. It will happen. Slowly, silently, and with little fanfare, organizations routinely drift from their purpose, and many never return to their original intent. Harvard and the YMCA are among those that no longer embrace the Christian principles on which they were founded. But they didn't drift off course overnight. Drift often happens in small and subtle ways. Left unchecked, it eventually becomes significant. Yet Mission Drift is not inevitable. Organizations such as Compassion International and InterVarsity have exhibited intentional, long-term commitment to Christ. Why do so many organizations--including churches--wander from their mission, while others remain Mission True? Can drift be prevented? In Mission Drift, HOPE International executives Peter Greer and Chris Horst tackle these questions. They show how to determine whether your organization is in danger of drift, and they share the results of their research into Mission True and Mission Untrue organizations. Even if your organization is Mission True now, it's wise to look for ways to inoculate yourself against drift. You'll discover what you can do to prevent drift or get back on track and how to protect what matters most. "No organization is exempt from the danger of drifting away from its original mission. In Mission Drift, Peter and Chris provide solid guidance for remaining laser-focused on core values--from the board level to daily organizational culture. This book is a timely message for any organization working hard to remain Mission True." --Wess Stafford, president-emeritus, Compassion International "Peter Greer and Chris Horst have identified one of the deepest challenges any leader faces: how to ensure that an organization stays true to its mission, especially when that mission becomes countercultural." --Andy Crouch, executive editor, Christianity Today "Essential reading for twenty-first-century believers if we are to gain new vision, unity, and strength. Mission Drift is spine straightening, mind clearing, and courage inspiring. This book is true-north wisdom for leaders--and a gift of hope for the world God loves." --Kelly Monroe Kullberg, founder, The Veritas Forum and author, Finding God Beyond Harvard "Many of us in leadership have learned--often painfully--that our mission needs to be built into every aspect of our organization, from leadership to receptionist, from hiring to implementation. We can't afford not to follow the lessons in this valuable book." --Richard Stearns, president, World Vision U.S. and author, The Hole in Our Gospel "Keeping an eternal perspective is essential in our work. Mission Drift gives a clear message inspiring and challenging us to intentionally keep Christ at the center of all efforts." --David Green, founder and CEO, Hobby Lobby Stores, Inc. "Written with clarity, boldness, and urgency, the authors provide insight into and examples of the causes and solutions to drift using the stories of real organizations...A must-read! Recommend this book to every business and church leader."--CBA Retailers+Resources "This book is a must-read for leaders, easy to read, practical, engaging and inspirational. The principals outlined not only apply to major corporations, but also to any organization, church and even to one's own personal life. Mission Drift . . . will be well worth the effort and time, and you will find yourself wanting to begin implementing what you've learned to safeguard your organization from drifting away from its mission."--Foursquare.org
Microfinance Institutions by R. Mersland,Ø. Strøm Pdf
Research on MFI performance is still in its infancy. MFIs are hybrid organizations with dual objectives. Performance studies in microfinance are therefore less straightforward compared to performance studies in traditional banking research. This book contains new MFI performance research by top scholars from across the globe.
The Lausanne congress of 1974 marked the widespread adoption of integral mission as essential to the evangelical witness of Christ in our world. Ever since there has been ongoing debate as to the roles of evangelism and social action. In this book Oddvar Sten Ronsen argues that instead of the priority of evangelism over social action there should be the anticipation of evangelism as a result of social action. Although evangelism and social action may not occur at the same time, the author warns of the possibility of “mission drift,” where projects begin with the intention of meeting the social and spiritual needs of the people, but fail to proceed to evangelism. In succumbing to this mission drift, projects cease to be true to the principles of integral mission. Combining theological reflection with case studies of microfinance enterprises in the Philippines and Thailand, Ronsen evaluates the sustainability of, and social good delivered by, these Christian projects to the communities they serve. The research sheds light on the causes of a drift from integral mission, how these can be managed and whether microfinance can be a bridge for the gospel.
Financial Performance and Outreach by Robert J. Cull,Aslı Demirgüç-Kunt,Jonathan Morduch Pdf
Microfinance contracts have proven able to secure high rates of loan repayment in the face of limited liability and information asymmetries, but high repayment rates have not translated easily into profits for most microbanks. Profitability, though, is at the heart of the promise that microfinance can deliver poverty reduction while not relying on ongoing subsidy. The authors examine why this promise remains unmet for most institutions. Using a data set with unusually high quality financial information on 124 institutions in 49 countries, they explore the patterns of profitability, loan repayment, and cost reduction. The authors find that institutional design and orientation matter substantially. Lenders that do not use group-based methods to overcome incentive problems experience weaker portfolio quality and lower profit rates when interest rates are raised substantially. For these individual-based lenders, one key to achieving profitability is investing more heavily in staff costs-a finding consistent with the economics of information but contrary to the conventional wisdom that profitability is largely a function of minimizing cost.
The Credibility of Microcredit offers an objective assessment of microfinance worldwide by way of interdisciplinary research. It features works from leading researchers in the field of microfinance, as well as new names, employing a variety of methods and theoretical approaches.
Mission Drift in Indian Micro Finance Institutions an Empirical Study by Roy Prasenjit Pdf
Introduction Microfinance has emerged as a tool for creating a financially inclusive society. Ever since the formal banking system showed limited concern towards reaching the poor on the premise that they were non-bankable. Initially, microfinance institutions (MFIs) started within the domain of non-governmental organizations (NGOs). With the passage of time, they expanded to more professional setups which brought competition and refinement in their operations. After substantial growth in the form of outreach their sustainability came to the forefront where along with social performance, financial performance was given equal importance. This led to the emergence of a double bottom line. However, an imbalance between the two, with more focus on financial performance led to the mission drift in the MFIs. The microfinance movement began decades ago which brought about a considerable change to the economic scenario of the poor. MFIs have been highly regarded for helping the poor. Poverty is a multifarious dilemma that causes impoverishment. It has various complexities that need to be eliminated from the root for all-around development. Ever since the dawn of civilization, various social and economic inequalities have occurred and contributed to making an unequal and poverty-driven society. The conventional forms of credit bridge the gap between the lenders and the borrowers which revolutionized trade and commerce
'Can Microfinance Work?' presents a thorough-going and nuanced ethical assessment of the microfinance industry, drawing on the author's expertise in the fields of finance and applied ethics.
The Lausanne congress of 1974 marked the widespread adoption of integral mission as essential to the evangelical witness of Christ in our world. Ever since there has been ongoing debate as to the roles of evangelism and social action. In this book Oddvar Sten Ronsen argues that instead of the priority of evangelism over social action there should be the anticipation of evangelism as a result of social action. Although evangelism and social action may not occur at the same time, the author warns of the possibility of “mission drift,” where projects begin with the intention of meeting the social and spiritual needs of the people, but fail to proceed to evangelism. In succumbing to this mission drift, projects cease to be true to the principles of integral mission. Combining theological reflection with case studies of microfinance enterprises in the Philippines and Thailand, Ronsen evaluates the sustainability of, and social good delivered by, these Christian projects to the communities they serve. The research sheds light on the causes of a drift from integral mission, how these can be managed and whether microfinance can be a bridge for the gospel.
The Poor Always Pay Back by Asif Dowla,Dipal Barua Pdf
The success of Grameen Bank and the microcredit movement as a whole has proved the credit worthiness of the poor beyond question. Grameen II shows that the poor, given the opportunity, will save a great deal and will always pay back
Financial Performance and Social Goals of Microfinance Institutions by Julian Schmied Pdf
Critics argue that there has been a trend among Microfinance Institutions (MFI) to focus on profitability in order to stay financially sustainable. This made some institutions neglect the social mission of microfinancing. In this paper I intend to examine if empirical evidence supports this so called mission drift hypothesis as well as other claims in this context. Using the global panel data set of the MIX (Microfinance Information Exchange), which gathers from 1995 to 2010 and contains up to 1400 institutions with a high variety of organizational forms, I was able to identify a world-wide mission drift effect in their social goal of reaching out the poorest part of the population. Furthermore, I find that, on average, the outreach of an MFI has a significant negative influence on its short and long term financial performance. Despite that, I eventually proved that the probability that an MFI worsens its social performance substantially increases if its profitability has decreased in the previous years.
