Assessing the financial and outreach efficiency of microfinance institutions: Do age and size matter?
Tài liệu tham khảo
Ahlin, 2011, Where does microfinance flourish? Microfinance institution performance in macroeconomic context, J. Dev. Econ., 95, 105, 10.1016/j.jdeveco.2010.04.004
Assaf, 2010, Hotel efficiency: a bootstrapped metafrontier approach, Int. J. Hosp. Manage., 29, 468, 10.1016/j.ijhm.2009.10.020
Athanassopoulos, 1995, Ratio and frontier analysis for assessing corporate performance: evidence from the grocery industry in the UK, J. Oper. Res. Soc., 46, 427, 10.1057/jors.1995.62
Athanassopoulos, 1997, Service quality and operating efficiency synergies for management control in the provision of financial services: evidence from Greek bank branches, Eur. J. Oper. Res., 98, 300, 10.1016/S0377-2217(96)00349-9
Aveh, 2013, An evaluation of sustainability and subsidy dependence of microfinance institutions in Ghana, Int. Bus. Manage., 6, 55
Balkenhol, 2007, Efficiency and sustainability in microfinance, 3
Banker, 1984, Some models for estimating technical and scale inefficiencies in data envelopment analysis, Manage. Sci., 30, 1078, 10.1287/mnsc.30.9.1078
Barron, 1994, A time to grow and a time to die: growth and mortality of credit unions in new YorkCity, 1914–1990, Am. J. Sociol., 100, 381, 10.1086/230541
Barros, 2008, Measuring the economic efficiency of airports: a Simar-Wilson methodology analysis, Transp. Res. Part E, 44, 1039, 10.1016/j.tre.2008.01.001
Barros, 2008, Airports in Argentina: technical efficiency in the context of an economic crisis, J. Air Transp. Manage., 14, 315, 10.1016/j.jairtraman.2008.08.005
Barry, 2014, The impact of governance and institutional quality on MFI outreach and financial performance in Sub-Saharan Africa, World Dev., 58, 1, 10.1016/j.worlddev.2013.12.006
Battese, 2004, A metafrontier production function for estimation of technical efficiencies and technology gaps for firms operating under different technologies, J. Prod. Anal., 21, 91, 10.1023/B:PROD.0000012454.06094.29
Berger, 1997, Efficiency of financial institutions: international survey and directions for future research, Eur. J. Oper. Res., 98, 175, 10.1016/S0377-2217(96)00342-6
Berger, 1997, Inside the black box: what explains differences in the efficiencies of financial institutions?, J. Bank. Finance, 21, 895, 10.1016/S0378-4266(97)00010-1
Berger, 2006, Capital structure and firm performance: a new approach to testing agency theory and an application to the banking industry, J. Bank. Finance, 30, 1065, 10.1016/j.jbankfin.2005.05.015
Caudill, 2009, Which microfinance institutions are becoming more cost effective with time? Evidence from a mixture model journal of money, Credit Bank., 41, 651, 10.1111/j.1538-4616.2009.00226.x
Charnes, 1978, Measuring the efficiency of decision making units, Eur. J. Oper. Res., 2, 429, 10.1016/0377-2217(78)90138-8
Coelli, 2005
Cohen, 2003
Conning, 1999, Outreach, sustainability and leverage in monitored and peer-monitored lending, J. Dev. Econ., 60, 51, 10.1016/S0304-3878(99)00036-X
Cull, 2007, Financial performance and outreach: a global analysis of leading microbanks, Econ. J., 117, 107, 10.1111/j.1468-0297.2007.02017.x
Cull, 2011, Does regulatory supervision curtail microfinance profitability and outreach?, World Dev., 39, 949, 10.1016/j.worlddev.2009.10.016
D’Espallier, 2013, Unsubsidized microfinance institutions, Econ. Lett., 120, 174, 10.1016/j.econlet.2013.04.021
Dietsch, 2000, How the environment determines banking efficiency: a comparison between French and Spanish industries, J. Bank. Finance, 24, 985, 10.1016/S0378-4266(99)00115-6
Efron, 1979, Bootstrap methods: another look at the Jackknife, Ann. Stat., 7, 1, 10.1214/aos/1176344552
Fallah-Fini, 2012, Measuring the efficiency of highway maintenance contracting strategies: a bootstrapped non-parametric meta-frontier approach, Eur. J. Oper. Res., 219, 134, 10.1016/j.ejor.2011.12.009
Farrell, 1957, The measurement of productive efficiency, J. R. Soc. Stat., 120, 253
Francisco, 2008
Golany, 1989, An application procedure for DEA, OMEGA, 17, 237, 10.1016/0305-0483(89)90029-7
Golany, 1999, A data envelopment analysis of the operational efficiency of bank branches, Interfaces, 29, 14, 10.1287/inte.29.3.14
Gonzalez, 2007
Grable, 1998, Investor risk tolerance: testing the efficacy of demographics as differentiating and classifying factors, Financial Counseling Plan., 9, 61
Gutierrez-Niéto, 2007, Microfinance institutions and efficiency, Int. J. Manage. Sci., 35, 131
Gutierrez-Niéto, 2009, Social efficiency in microfinance institutions, J. Oper. Res. Soc., 60, 104, 10.1057/palgrave.jors.2602527
Halkos, 2012, Industry performance evaluation with the use of financial ratios: an application of bootstrapped DEA, Expert Syst. Appl., 39, 5872, 10.1016/j.eswa.2011.11.080
Hamed, 2007, Efficiency drivers and constraints: empirical findings, 126
Hartarska, 2007, Do regulated microfinance institutions achieve better sustainability and outreach? Cross-country evidence, Appl. Econ., 39, 1207, 10.1080/00036840500461840
Hartarska, 2005, Governance and performance of microfinance institutions in Central and Eastern Europe and the Newly Independent States, World Dev., 33, 1627, 10.1016/j.worlddev.2005.06.001
Hayami, 1971
Hermes, 2011, Microfinance: its impact, outreach, and sustainability, World Dev., 39, 875, 10.1016/j.worlddev.2009.10.021
Hermes, 2011, Outreach and efficiency of microfinance institutions, World Dev., 39, 938, 10.1016/j.worlddev.2009.10.018
Hosseinzadeh, 2016, Analyzing the efficiency performance of major Australian mining companies using bootstrap data envelopment analysis, Econ. Modell., 57, 26, 10.1016/j.econmod.2016.04.008
Hudon, 2011, On the efficiency effects of subsidies in microfinance: an empirical inquiry, World Dev., 39, 966, 10.1016/j.worlddev.2009.10.017
Lebovics, 2014
Ledgerwood, 2006
Ledgerwood, 1998
Lee, 2014, Technical efficiency of mainstream airlines and low-cost carriers: new evidence using bootstrap data envelopment analysis truncated regression, J. Air Transp. Manage. xxx, 1
Louis, 2013, Financial efficiency and social impact of microfinance institutions using self-organizing maps, World Dev., 46, 197, 10.1016/j.worlddev.2013.02.006
Manos, 2009, Key issues in assessing the performance of microfinance institutions, Can. J. Dev. Stud., 29, 101
Mitropoulos, 2015, Combining stochastic DEA with Bayesian analysis to obtain statistical properties of the efficiency scores: an application to Greek public hospitals, Eur. J. Oper. Res., 243, 302, 10.1016/j.ejor.2014.11.012
Morduch, 1999, The microfinance promise, J. Econ. Lit., 37, 1569, 10.1257/jel.37.4.1569
Nhung, 2015, Effects of state ownership on companies’ capital structure and profitability: estimation analysis before and after the Lehman shock, J. Asian Econ., 38, 64, 10.1016/j.asieco.2015.04.001
O’Donnell, 2008, Metafrontier frameworks for the study of firm-level efficiencies and technology ratios, Empirical Econ., 34, 231, 10.1007/s00181-007-0119-4
Paradi, 2013, A survey on bank branch efficiency and performance research with data envelopment analysis, Omega, 41, 61, 10.1016/j.omega.2011.08.010
Paradi, 2011, Two-stage evaluation of bank branch efficiency using data envelopment analysis, Omega, 39, 99, 10.1016/j.omega.2010.04.002
Paxton, 2003, A poverty outreach index and its application to microfinance, Econ. Bull., 9, 1
Paxton, 2007, Technical efficiency in a semi-formal financial sector: the case of Mexico, Oxf. Bull. Econ. Stat., 69, 57, 10.1111/j.1468-0084.2007.00466.x
Piot-Lepetit, 2014, Financial sustainability and poverty outreach within a network of village banks in Cameroon: a multi-DEA approach, Eur. J. Oper. Res., 234, 319, 10.1016/j.ejor.2013.10.004
Pitt, 1998, The impact of group-based credit programs on poor households in Bangladesh: does the gender of participants matter?, J. Politi. Econ., 106, 958, 10.1086/250037
Robinson, 2001
Schreiner, 2002, Aspects of outreach: a framework for discussion of the social benefits of microfinance, J. Int. Dev., 14, 591, 10.1002/jid.908
Seiford, 1999, Profitability and marketability of the top 55U.S. commercial banks, Manage. Sci., 45, 1270, 10.1287/mnsc.45.9.1270
Seiford, 1999, An investigation of returns to scale in data envelopment analysis, Omega, 27, 1, 10.1016/S0305-0483(98)00025-5
Servin, 2012, Ownership and technical efficiency of microfinance institutions: empirical evidence from Latin America, J. Bank. Finance, 36, 2136, 10.1016/j.jbankfin.2012.03.018
Simar, 1998, Sensitivity analysis of efficiency scores: how to bootstrap in nonparametric frontier models, Manage. Sci., 44, 49, 10.1287/mnsc.44.1.49
Simar, 2000, A general methodology for bootstrapping in non-parametric frontier models, J. Appl. Stat., 27, 779, 10.1080/02664760050081951
Simar, 2002, Non-parametric tests of returns to scale, Eur. J. Oper. Res., 139, 115, 10.1016/S0377-2217(01)00167-9
Simar, 2007, Estimation and inference in two-stage: semi-parametric models of production processes, J. Econometr., 136, 31, 10.1016/j.jeconom.2005.07.009
Song, 2013, Bootstrap-DEA analysis of BRICS’ energy efficiency based on small sample data, Appl. Energy, 112, 1049, 10.1016/j.apenergy.2013.02.064
Staub, 2010, Evolution of bank efficiency in Brazil: a DEA approach, Eur. J. Oper. Res., 202, 204, 10.1016/j.ejor.2009.04.025
Strom, 2014, Female leadership, performance, and governance in microfinance institutions, J. Bank. Finance, 42, 60, 10.1016/j.jbankfin.2014.01.014
Van Damme, 2016, Governance and Efficiency of Microfinance Institutions Empirical Evidence from Sri Lanka, South Asia Econ. J., 17, 236, 10.1177/1391561416650102
Vogel, 1984, Savings mobilization: the forgotten half of rural finance
Wanke, 2016, Efficiency drivers in Brazilian insurance: a two-stage DEA meta frontier-data mining approach, Econ. Modell., 53, 8, 10.1016/j.econmod.2015.11.005
Wheelock, 2000, Why do banks disappear? The determinants of U.S. bank failures and acquisitions, Rev. Econ. Stat., 82, 127, 10.1162/003465300558560
Widiarto, 2015, Social and financial efficiency of Islamic microfinance institutions: a data envelopment analysis application, Socioecon. Plann. Sci., 50, 1, 10.1016/j.seps.2014.12.001
Wijesiri, 2015, Productivity change of microfinance institutions in Kenya: a bootstrap Malmquist approach, J. Retail. Consum. Serv., 25, 115, 10.1016/j.jretconser.2015.04.004
Wijesiri, 2015, Efficiency of microfinance institutions in Sri Lanka: a two-stage double bootstrap DEA approach, Econ. Modell., 47, 74, 10.1016/j.econmod.2015.02.016
Wijesiri, 2016, Weathering the storm: ownership structure and performance of microfinance institutions in the wake of the global financial crisis, Econ. Modell., 57, 238, 10.1016/j.econmod.2016.05.011
Wilson, 2008, FEAR: a software package for frontier efficiency analysis with R, Socioecon. Plann. Sci., 42, 247, 10.1016/j.seps.2007.02.001
Yaron, 2007, Is the microfinance industry misleading the public regarding its subsidy dependence?, Savings Dev., 2, 131
Yaron, 2010, Information transparency and agency cost in the microfinance industry: the adequacy of the operational self-Sufficiency index, Rev. Mark. Integr., 2, 87, 10.1177/097492921000200106
Yaron, 1992
Yaron, 1994, What makes rural financial institutions successful?, World Bank Res. Obs., 9, 49, 10.1093/wbro/9.1.49