메뉴 건너뛰기




Volumn 33, Issue 10, 2005, Pages 1627-1643

Governance and performance of microfinance institutions in Central and Eastern Europe and the Newly Independent States

Author keywords

Audit; Board; Central and Eastern Europe and the Newly Independent States; Governance; Microfinance; Rating; Regulation

Indexed keywords

GOVERNANCE APPROACH; MICROFINANCE; PERFORMANCE ASSESSMENT; POLITICAL CHANGE;

EID: 26844490961     PISSN: 0305750X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.worlddev.2005.06.001     Document Type: Article
Times cited : (263)

References (57)
  • 1
    • 0742311570 scopus 로고    scopus 로고
    • Is bank holding company governance different?
    • R. Adams & H. Mehran Is bank holding company governance different? Economic Policy Review 9 1 2003 123-142
    • (2003) Economic Policy Review , vol.9 , Issue.1 , pp. 123-142
    • Adams, R.1    Mehran, H.2
  • 7
    • 12344284481 scopus 로고    scopus 로고
    • The role of nonaffiliated, outside directors in monitoring the firm and the effect of on shareholder wealth
    • S. Block The role of nonaffiliated, outside directors in monitoring the firm and the effect of on shareholder wealth Journal of Financial and Strategic Decisions 12 1999 1-8
    • (1999) Journal of Financial and Strategic Decisions , vol.12 , pp. 1-8
    • Block, S.1
  • 8
    • 21144469078 scopus 로고
    • Agency and efficiency in non-profit organizations
    • J. Callen & H. Falk Agency and efficiency in non-profit organizations Accounting Review 68 1993 48-65
    • (1993) Accounting Review , vol.68 , pp. 48-65
    • Callen, J.1    Falk, H.2
  • 9
    • 26844557739 scopus 로고    scopus 로고
    • Current governance practices of microfinance institutions
    • Occasional Paper No. 3, The Microfinance Network, Washington, DC
    • Campion, A. (1998). Current governance practices of microfinance institutions. Occasional Paper No. 3, The Microfinance Network, Washington, DC.
    • (1998)
    • Campion, A.1
  • 10
    • 0004267897 scopus 로고    scopus 로고
    • Institutional metamorphosis: Transformation of microfinance NGOs in regulated financial institutions
    • Occasional Paper No. 3, The Microfinance Network, Washington, DC
    • Campion, A., & White, W. (1999). Institutional metamorphosis: transformation of microfinance NGOs in regulated financial institutions. Occasional Paper No. 3, The Microfinance Network, Washington, DC.
    • (1999)
    • Campion, A.1    White, W.2
  • 11
    • 84932126970 scopus 로고    scopus 로고
    • Corporate governance, board diversity, and firm value
    • D.A. Carter B.J. Simkins & W.G. Simpson Corporate governance, board diversity, and firm value The Financial Review 38 1 2003 33-63
    • (2003) The Financial Review , vol.38 , Issue.1 , pp. 33-63
    • Carter, D.A.1    Simkins, B.J.2    Simpson, W.G.3
  • 12
    • 0033397248 scopus 로고    scopus 로고
    • Outreach, sustainability, and leverage in monitored and peer-monitored lending
    • J. Conning Outreach, sustainability, and leverage in monitored and peer-monitored lending Journal of Development Economics 60 1999 51-77
    • (1999) Journal of Development Economics , vol.60 , pp. 51-77
    • Conning, J.1
  • 13
    • 0001510595 scopus 로고    scopus 로고
    • The economics of career concerns, Part I: Comparing information structures
    • M. Dewatripont I. Jewitt & J. Tirole The economics of career concerns, Part I: Comparing information structures Review of Economic Studies 66 1 1999 183-198
    • (1999) Review of Economic Studies , vol.66 , Issue.1 , pp. 183-198
    • Dewatripont, M.1    Jewitt, I.2    Tirole, J.3
  • 14
    • 84883760221 scopus 로고
    • A theory of debt and equity, diversity of securities and manager-shareholder congruence
    • M. Dewatripont & J. Tirole A theory of debt and equity, diversity of securities and manager-shareholder congruence Quarterly Journal of Economics 109 1994 1027-1054
    • (1994) Quarterly Journal of Economics , vol.109 , pp. 1027-1054
    • Dewatripont, M.1    Tirole, J.2
  • 15
    • 0002682437 scopus 로고    scopus 로고
    • Appeasing the Gods of sustainability: The future of international NGOs in microfinance
    • D. Hulme & E. Michael (Eds.) St. Martin's Press in association with Save the Children New York
    • T. Dichter Appeasing the Gods of sustainability: The future of international NGOs in microfinance In D. Hulme & E. Michael (Eds.) NGOs, states and donors: Too close for comfort? International political economy series 1997 St. Martin's Press in association with Save the Children New York 128-139
    • (1997) NGOs, States and Donors: Too Close for Comfort? International Political Economy Series , pp. 128-139
    • Dichter, T.1
  • 16
    • 75949107870 scopus 로고
    • Optimal non-profit firms Rose-Ackerman
    • Rose-Ackerman (Ed.) Oxford University Press New York
    • D. Easley & M. O'Hara Optimal non-profit firms In: Rose-Ackerman (Ed.) Economics of non-profit institutions 1988 Oxford University Press New York
    • (1988) Economics of Non-profit Institutions
    • Easley, D.1    O'Hara, M.2
  • 22
    • 84965629725 scopus 로고
    • Reputation as collateral: An economic analysis of the role of trustees of nonprofits
    • F. Handy Reputation as collateral: An economic analysis of the role of trustees of nonprofits Nonprofit and Voluntary Sector Quarterly 24 4 1995 293-305
    • (1995) Nonprofit and Voluntary Sector Quarterly , vol.24 , Issue.4 , pp. 293-305
    • Handy, F.1
  • 23
    • 0001167419 scopus 로고    scopus 로고
    • The wage differential between non-profit institutions and corporations: Getting more by paying less?
    • F. Handy & E. Katz The wage differential between non-profit institutions and corporations: Getting more by paying less? Journal of Comparative Economics 26 1998 246-261
    • (1998) Journal of Comparative Economics , vol.26 , pp. 246-261
    • Handy, F.1    Katz, E.2
  • 25
    • 26844494812 scopus 로고    scopus 로고
    • Community development financial institutions in the southeast: Board size and diversity as governance mechanisms
    • (in press)
    • Hartarska, V. (in press). Community development financial institutions in the southeast: Board size and diversity as governance mechanisms. Southern Business and Economics Journal.
    • Southern Business and Economics Journal
    • Hartarska, V.1
  • 26
    • 26844494812 scopus 로고    scopus 로고
    • Community Development Financial Institutions in the Southeast: Board Size and Diversity as Governance Mechanisms
    • V. Hartarska Community Development Financial Institutions in the Southeast: Board Size and Diversity as Governance Mechanisms The Southern Business and Economics Journal 27 1&2 2004 102-110
    • (2004) The Southern Business and Economics Journal , vol.27 , Issue.1-2 , pp. 102-110
    • Hartarska, V.1
  • 27
    • 0012319054 scopus 로고    scopus 로고
    • Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature
    • P. Healy & K. Palepu Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature Journal of Accounting & Economics 31 2001 405-440
    • (2001) Journal of Accounting & Economics , vol.31 , pp. 405-440
    • Healy, P.1    Palepu, K.2
  • 28
    • 0012583968 scopus 로고    scopus 로고
    • Board of directors as an endogenously determined institution: A survey of the economic literature
    • B.E. Hermalin & M.S. Weisbach Board of directors as an endogenously determined institution: A survey of the economic literature Economic Policy Review 9 1 2003 7-20
    • (2003) Economic Policy Review , vol.9 , Issue.1 , pp. 7-20
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 29
    • 4243442002 scopus 로고    scopus 로고
    • Managerial incentive problems: A dynamic perspective
    • B. Holmstrom Managerial incentive problems: A dynamic perspective Review of Economic Studies 66 1 1999 169-182
    • (1999) Review of Economic Studies , vol.66 , Issue.1 , pp. 169-182
    • Holmstrom, B.1
  • 30
    • 26844551184 scopus 로고    scopus 로고
    • Principles for designing staff incentive schemes
    • Available from www.MicroSave.org
    • Holtmann, M. (2002). Principles for designing staff incentive schemes. Available from www.MicroSave.org
    • (2002)
    • Holtmann, M.1
  • 31
    • 0000265067 scopus 로고
    • CEO compensation and bank risk: Is compensation in banking structured to promote risk taking?
    • J. Houston & C. James CEO compensation and bank risk: Is compensation in banking structured to promote risk taking? Journal of Monetary Economics 36 1995 405-431
    • (1995) Journal of Monetary Economics , vol.36 , pp. 405-431
    • Houston, J.1    James, C.2
  • 33
    • 84993848601 scopus 로고
    • The modern industrial revolution, exit, and the failure of internal control system
    • M. Jensen The modern industrial revolution, exit, and the failure of internal control system Journal of Finance 48 3 1993 831-880
    • (1993) Journal of Finance , vol.48 , Issue.3 , pp. 831-880
    • Jensen, M.1
  • 34
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • M. Jensen & W. Meckling Theory of the firm: Managerial behavior, agency costs and ownership structure The Journal of Financial Economics 3 1976 305-360
    • (1976) The Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.1    Meckling, W.2
  • 35
    • 84936016411 scopus 로고
    • Performance pay and top-management incentives
    • M. Jensen & K. Murphy Performance pay and top-management incentives Journal of Political Economy 98 1990 225-264
    • (1990) Journal of Political Economy , vol.98 , pp. 225-264
    • Jensen, M.1    Murphy, K.2
  • 36
    • 26844512432 scopus 로고    scopus 로고
    • Regulation, subordinated debt and incentive features of CEO compensation in the banking industry
    • Available from
    • John, K., Mehran, H., & Qian, Y. (2004). Regulation, subordinated debt and incentive features of CEO compensation in the banking industry. Available from http://ssrn.com/abstract=497922
    • (2004)
    • John, K.1    Mehran, H.2    Qian, Y.3
  • 38
    • 84993908989 scopus 로고
    • Top-management compensation and capital structure
    • T.A. John & K. John Top-management compensation and capital structure Journal of Finance 48 3 1993 949-974
    • (1993) Journal of Finance , vol.48 , Issue.3 , pp. 949-974
    • John, T.A.1    John, K.2
  • 40
    • 0344145796 scopus 로고    scopus 로고
    • The corporate governance of banks
    • J. Macey & M. O'Hara The corporate governance of banks Economic Policy Review 9 1 2003 91-107
    • (2003) Economic Policy Review , vol.9 , Issue.1 , pp. 91-107
    • Macey, J.1    O'Hara, M.2
  • 41
    • 0347504871 scopus 로고    scopus 로고
    • Agency costs and the oversight of charitable organizations
    • G.A. Manne Agency costs and the oversight of charitable organizations Wisconsin Law Review 1999 227
    • (1999) Wisconsin Law Review , pp. 227
    • Manne, G.A.1
  • 42
    • 0032837266 scopus 로고    scopus 로고
    • Policy and regulation for sustainable microfinance: Country experiences in Asia
    • P.B. McGuire Policy and regulation for sustainable microfinance: Country experiences in Asia Journal of International Development 11 5 1999 717-729
    • (1999) Journal of International Development , vol.11 , Issue.5 , pp. 717-729
    • McGuire, P.B.1
  • 44
    • 26844438759 scopus 로고    scopus 로고
    • The microfinance shism
    • J. Morduch The microfinance shism World Development 26 2000 783-790
    • (2000) World Development , vol.26 , pp. 783-790
    • Morduch, J.1
  • 45
    • 0001042527 scopus 로고    scopus 로고
    • Executive compensation
    • O. Ashenfelter & D. Card (Eds.) North-Holland Amsterdam
    • K.J. Murphy Executive compensation In O. Ashenfelter & D. Card (Eds.) Handbook of labor economics Vol. 3 1999 North-Holland Amsterdam
    • (1999) Handbook of Labor Economics , vol.3
    • Murphy, K.J.1
  • 46
    • 0042418261 scopus 로고    scopus 로고
    • Lending technologies, competition and consolidation in the market for microfinance in Bolivia
    • S. Navajas J. Conning & C. Gonzalez-Vega Lending technologies, competition and consolidation in the market for microfinance in Bolivia Journal of International Development 15 6 2003 747-770
    • (2003) Journal of International Development , vol.15 , Issue.6 , pp. 747-770
    • Navajas, S.1    Conning, J.2    Gonzalez-Vega, C.3
  • 49
    • 84858407368 scopus 로고    scopus 로고
    • Does the structure and composition of the board matter? The case of non-profit organizations
    • Working paper, Yale School of Management
    • Oster, S., & O'Regan, K. (2003). Does the structure and composition of the board matter? The case of non-profit organizations. Working paper, Yale School of Management
    • (2003)
    • Oster, S.1    O'Regan, K.2
  • 51
    • 85015625063 scopus 로고    scopus 로고
    • The economics of NGO's
    • LSE, DEDPS No. 15, London
    • Scott, C., & Hopkins, R. (1999). The economics of NGO's. LSE, DEDPS No. 15, London
    • (1999)
    • Scott, C.1    Hopkins, R.2
  • 52
    • 0001026456 scopus 로고    scopus 로고
    • A survey of corporate governance
    • A. Shleifer & R. Vishny A survey of corporate governance Journal of Finance 52 2 1997 737-783
    • (1997) Journal of Finance , vol.52 , Issue.2 , pp. 737-783
    • Shleifer, A.1    Vishny, R.2
  • 53
    • 75349112344 scopus 로고    scopus 로고
    • Bank fragility and disclosure: International evidence
    • Mimeo, Moore School of Business, University of South Carolina
    • Tadesse, S. (2003). Bank fragility and disclosure: International evidence. Mimeo, Moore School of Business, University of South Carolina
    • (2003)
    • Tadesse, S.1
  • 54
    • 0009854102 scopus 로고    scopus 로고
    • A framework for regulating microfinance institutions
    • The World Bank Policy Research Working Paper No. 2061, The World Bank, Washington, DC
    • Van Greuning, H., Galardo, J., & Randhawa, B. (1999). A framework for regulating microfinance institutions. The World Bank Policy Research Working Paper No. 2061, The World Bank, Washington, DC
    • (1999)
    • Van Greuning, H.1    Galardo, J.2    Randhawa, B.3
  • 55
    • 0034339130 scopus 로고    scopus 로고
    • How experience and network ties affect the demographic minorities on corporate boards
    • J. Westphal & L. Milton How experience and network ties affect the demographic minorities on corporate boards Administrative Science Quarterly 45 2000 366-398
    • (2000) Administrative Science Quarterly , vol.45 , pp. 366-398
    • Westphal, J.1    Milton, L.2
  • 57
    • 0030078208 scopus 로고    scopus 로고
    • Higher valuation of companies with a small board of directors
    • D. Yermack Higher valuation of companies with a small board of directors Journal of Financial Economics 40 1996 185-212
    • (1996) Journal of Financial Economics , vol.40 , pp. 185-212
    • Yermack, D.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.