Surplus Distribution in Microfinance Differences Among Cooperative, Nonprofit, and Shareholder Forms of Ownership
(2012) Nonprofit and Voluntary Sector Quarterly — Vol. 41, n° 3, p. 386-304 (2012)
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- Abstract
- How do microfinance institutions (MFIs) allocate their surplus to stakeholders? This article shows that this allocation process varies depending on the MFI ownership structure. Nonprofit organizations and shareholders-held MFIs exhibit a tendency to largely keep their surplus within the MFI as a self-financing margin (reserve accounts, future investments, and capital increase) rather than transferring it to their clients (interest rate decrease) and their employees (salary increase). The surplus distribution in COOPs is more in favor of providers and employees. Finally, the article discusses the importance of these findings for the evaluation of MFIs by policy makers.
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Citations
Perilleux, A., Hudon, M., & Bloy, E. (2012). Surplus Distribution in Microfinance Differences Among Cooperative, Nonprofit, and Shareholder Forms of Ownership. Nonprofit and Voluntary Sector Quarterly, 41(3), 386-304. https://doi.org/10.1177/0899764011406287 (Original work published 2012)