Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/323960 
Year of Publication: 
2008
Citation: 
[Journal:] Journal of International Development [ISSN:] 1099-1328 [Volume:] 20 [Issue:] 5 [Publisher:] Wiley [Place:] Hoboken, NJ [Year:] 2008 [Pages:] 598-612
Publisher: 
Wiley, Hoboken, NJ
Abstract: 
Policy advocates argue for the transformation of non‐government Microfinance Organisations (MFOs) into shareholder owned firms (SHFs). This paper investigates whether the proposed superiority of shareholder owned MFOs is empirically supported. The findings indicate that the difference between shareholder owned MFOs and non‐government MFOs is minimal. Our results contradict established paradigms and policy guidelines in the industry. However, the results are not necessarily surprising since ownership theories support our findings. So do also studies from the general banking markets as well as historical studies. Adaptation of legal frameworks allowing well‐performing NGOs to mobilise savings appears to be a better option than transformation. Copyright © 2008 John Wiley & Sons, Ltd.
Published Version’s DOI: 
Additional Information: 
Also: MPRA Paper No. 3966
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)
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