Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/323962 
Authors: 
Year of Publication: 
2009
Citation: 
[Journal:] World Development [ISSN:] 1873-5991 [Volume:] 37 [Issue:] 2 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2009 [Pages:] 469-478
Publisher: 
Elsevier, Amsterdam
Abstract: 
We compare the ownership-cost of Shareholders Firms (SHFs), Non Profit Organizations (NPOs) and Cooperatives (COOPs) involved in microfinance. A paradoxical situation motivates us: Most providers, both historically and today, are NPOs or COOPs, while policy papers advocate SHFs. We lay out a theoretical framework to better understand ownership costs in microfinance organizations. We propose that cost variables related to market contracting favor NPOs and COOPs, whereas most cost variables related to the practice of ownership favor SHFs. We conclude that what best serves the customers is coexistence of ownership types, and we call for empirical research to test the theory.
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)
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