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Abstract
Microfinance Institutions provide financial services to poor people. Governance of these organizations is important so that
they can operate efficiently and sustainably. This study analyzes the influence of stakeholders (donors, employees, customers,
and creditors), on board structure (board size and CEO duality), and on organizational performance. We use a global data set
of 379 microfinance institutions from 73 countries, collected from rating organizations. Supported by stakeholder theory,
agency theory and resource dependence theory, we find stakeholders to be important and have various influences on microfinance
institutions. We find donors to be associated with small boards, non-duality and better performance. Employees are associated
with large boards, while customers are associated with duality and good financial performance. Creditors opt for duality and
better social performance. Implications and areas for future research are discussed.
- Content Type Journal Article
- Pages 1-29
- DOI 10.1007/s10997-011-9191-4
- Authors
- Neema Mori, Faculty of Economics and Social Sciences, University of Agder, Postboks 422, 4604 Kristiansand, Norway
- Roy Mersland, Faculty of Economics and Social Sciences, University of Agder, Postboks 422, 4604 Kristiansand, Norway
- Journal Journal of Management and Governance
- Online ISSN 1572-963X
- Print ISSN 1385-3457