"Microfinance institutions (MFIs) must balance financial and social goals. When these coopetitive goals are under threat, which goals do MFIs prefer? Based on the theory of myopic loss aversion, our study aims to assess the immediate effect of the 2016 demonetization in India on MFIs and their loan portfolio performance and on unintended social outcomes. Using the 2016 demonetization in India as a quasi-experiment, we find that MFIs had a lower 30-day and 90-day portfolio at risk (PAR) and implemented better client protection terms. In addition, demonetization had a small but positive effect on developing start-up enterprises and serving more clients below the poverty line. Last, we find that MFIs investing in female client education presented a lower PAR after demonetization. Overall, our study sheds light on the unintended consequences on MFIs as a result of the demonetization event, and it provides policy implications for MFIs."

"We make a comparison of microfinance banks (MBs) and commercial banks (CBs) in terms of efficiency, business orientation, stability, and asset quality by analyzing a large sample of banks from 60 countries around the world. Our findings indicate that microfinance banks have higher intermediation, non-interest income, wholesale funding and liquidity, but lower efficiency and asset quality. These significant variations are influenced by smaller microfinance banks and are driven mostly to African and Latin American microfinance banks."

"Microfinance has gained significant attention as a social innovation, offering flexible and low-cost financial services to households who are otherwise excluded from formal financial services. Over the years, numerous research works have expanded the knowledge base of microfinance. Applying bibliometrics, we summarise findings from 1599 articles published between 1987 and 2022. Our performance analysis reveals insights into the research trend, including its geographical distribution, the theories under examination, and the most influential publications. More importantly, the knowledge foundation and thematic analysis categorize microfinance research into three broad themes, viz. impact of microfinance, management of microfinance and performance and efficiency of microfinance."

"This paper contributes to VC network literature in providing a unique network structure and network metrics of venture capital in SEA. In managerial contribution, this study provides more structural VC cooperation towards VC syndication networks. This benefits to venture capital firms who are looking for potential partners in Southeast Asian region and start-up companies who are looking for funding with high-networked or influencial VCs. The results also confirm previous evidence of significance on VC networks in emerging market, even if the institution and regulation are claimed to fall behind that in the developed market. This research introduces the fact that the venture capital network in Southeast Asia has small-world pattern and Singapore acts as a hub of venture capital market in the region."

"This paper investigates the impact of economic policy uncertainty (EPU) on the corporate philanthropy (CP) behaviors of firms using a dataset from Chinese A-share listed firms. We find that, on average, firms decrease their CP significantly when economic policy uncertainty increases, but the response is heterogeneous for firms with different ownership types. Compared with their counterparts, private firms are willing to contribute more donations in an environment with high economic policy uncertainty. Further analysis shows that private firms take on more other types of corporate social responsibility at the same time, and private firms' additional CP in a high EPU environment is rewarded with more subsidies, indicating that altruistic and political motives may play important roles in driving the CP behaviors of private firms."

"Using geographical distribution data on corporate philanthropy in China from 2009 to 2016, we provide robust evidence of companies’ revenue-driven regional favoritism. Specifically, companies donate more to regions where they obtain revenue than to other regions. Further evidence suggests that this revenue-driven regional favoritism may have both reputational and political motivations. Further analysis suggests that China’s targeted poverty alleviation policy has compromised revenue-driven regional favoritism while increasing the amount of money donated to poor regions. Overall, we enrich understanding of decision-making on corporate philanthropy. We also demonstrate that companies can use the geographical distribution of corporate philanthropy strategically to obtain consumer and government favor in regions where they operate."

"The diversity-led organizations, that are more often addressing equity-deserving communities, received philanthropic support three times less often, and support from less funders than the conventional-led organizations. These results demonstrate that environmental philanthropy in Canada favors a large set of established organizations and perpetuates a landscape of exclusion for diversity-led organizations working on the low-carbon energy transition. By perpetuating disparities through funding, philanthropy is reinforcing inequities among marginalized communities. This in turn is setting back the progress of equity in low-carbon energy transitions in Canada."

"Microinsurance emerged out of different but parallel debates about the reformulation and expansion of social protection amidst the devastation of structural adjustment. It was, at least in its initial articulations, explicitly counterposed to the ‘market’-based solutions proffered by the World Bank, the IMF, and their allies. Yet, by the early 2000s, microinsurance and microcredit were being promoted in strikingly similar terms to the approaches they had initially opposed, and by the same actors."

"Holding several factors constant, we conclude that receiving continuous loans from ACME had some positive effects on Haitian businesses. We find a positive impact on business expansion through various outcomes. Compared to new clients, firms that had completed at least three loan cycles had a higher probability of hiring new workers in 2018 and of increasing their merchandise stock. They also reported higher profits and savings. The results also highlight the gender-differentiated impact of microloans on businesses. Although ACME loans are critical in helping women open new outlets, the outcomes of increasing stock and adding new services are found only among male-owned businesses."

"This paper examines how Impact Investment (II) becomes part and transforms structured accumulation regimes and circuits, with a particular emphasis on South Africa's agricultural sector. Through the joint implementation of a macro study of the South African II circuits, and a micro study of a particular II fund’s practices and impacts, the paper develops an in-depth political economy assessment of II circuits in order to historicize these circuits, to map the South African II community, and to characterize the power balances presently structuring it. Rather than highlighting ruptures, it draws the attention to the historical continuities and path-dependencies as II related tools are rooted into older financial practices, shaping today's II development and practice - hence questioning II as a tool for empowerment."