Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324013 
Year of Publication: 
2015
Citation: 
[Journal:] Entrepreneurship Theory and Practice [ISSN:] 1540-6520 [Volume:] 39 [Issue:] 4 [Publisher:] Sage [Place:] Thousand Oaks, CA [Year:] 2015 [Pages:] 927-953
Publisher: 
Sage, Thousand Oaks, CA
Abstract: 
Microfinance is a global high–growth industry, in which entrepreneurship is prevalent and substantial. Based on the theoretical argument that microfinance entrepreneur–chief executive officers (CEOs) are “motivated agents” with a unique ability to hire and socialize mission–oriented staff, we hypothesize that these CEOs produce more sustainable microfinance institutions (MFIs) with better social performance and lower costs. This study utilizes data from 295 MFIs in 73 developing countries, assessed between 1998 and 2010. Our empirical evidence suggests that entrepreneur–managed MFIs feature higher social performance, greater financial sustainability, and lower costs.
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)
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