Lending and business cycle: Evidence from microfinance institutions
Analyzing a sample of 5996 firm-year observations from 1444 microfinance institutions (MFIs) worldwide over the 2001–2014 period, we find evidence that the cyclical behavior of MFIs’ lending documented in previous literature is not homogenous across MFI regulated status and lending categories. Among...
Gespeichert in:
| Veröffentlicht in: | Journal of business research 2020-10, Vol.119, p.1-12 |
|---|---|
| Hauptverfasser: | , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 12 |
|---|---|
| container_issue | |
| container_start_page | 1 |
| container_title | Journal of business research |
| container_volume | 119 |
| creator | Tchakoute Tchuigoua, Hubert Soumaré, Issouf Hessou, Hélyoth T.S. |
| description | Analyzing a sample of 5996 firm-year observations from 1444 microfinance institutions (MFIs) worldwide over the 2001–2014 period, we find evidence that the cyclical behavior of MFIs’ lending documented in previous literature is not homogenous across MFI regulated status and lending categories. Among other things we find evidence that regulated MFIs (mostly comprised of privately-owned-MFIs) drive the cyclical behavior of lending in the microfinance industry. This might be due to regulatory pressures and the high exposure of these MFIs to economic uncertainties. Business cycles affect non-regulated and pro-poor MFIs to a lesser degree. Additionally, our findings reveal that individual loan contracts are more pro-cyclical than group loan contracts. |
| doi_str_mv | 10.1016/j.jbusres.2020.07.022 |
| format | Article |
| fullrecord | <record><control><sourceid>gale_hal_p</sourceid><recordid>TN_cdi_hal_primary_oai_HAL_hal_03422314v1</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><galeid>A648623465</galeid><els_id>S0148296320304689</els_id><sourcerecordid>A648623465</sourcerecordid><originalsourceid>FETCH-LOGICAL-c453t-a766f609a3e9b294afab90cd72c32990e83dc745ca1d4068f19e76f0b9eed09a3</originalsourceid><addsrcrecordid>eNqFkE1LAzEURYMoWKs_QZiV4GLGl48mEzdSSrVCwY2uQ5q8qSltRibTov_eDC1uXT24nHvhHUJuKVQUqHzYVJvVPnWYKgYMKlAVMHZGRrRWvFRa1edkBFTUJdOSX5KrlDYAmYR6RGZLjD7EdWGjL_JKiJhS4X7cFh-L-SF4jA6Lpmt3xS64rm1CtEMSYupDv-9DG9M1uWjsNuHN6Y7Jx_P8fbYol28vr7PpsnRiwvvSKikbCdpy1CumhW3sSoPzijnOtAasuXdKTJylXoCsG6pRyQZWGtEPtTG5P-5-2q356sLOdj-mtcEspkszZMAFY5yKA83s3ZFd2y2aEF0be_zu13afkjFTKWrJuJCTDE6OYH4uZYnN3zIFM-g1G3PSawa9BpTJenPv6djD_PEhYGeSC4MsHzp0vfFt-GfhF3L8hcE</addsrcrecordid><sourcetype>Open Access Repository</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype></control><display><type>article</type><title>Lending and business cycle: Evidence from microfinance institutions</title><source>Elsevier ScienceDirect Journals</source><creator>Tchakoute Tchuigoua, Hubert ; Soumaré, Issouf ; Hessou, Hélyoth T.S.</creator><creatorcontrib>Tchakoute Tchuigoua, Hubert ; Soumaré, Issouf ; Hessou, Hélyoth T.S.</creatorcontrib><description>Analyzing a sample of 5996 firm-year observations from 1444 microfinance institutions (MFIs) worldwide over the 2001–2014 period, we find evidence that the cyclical behavior of MFIs’ lending documented in previous literature is not homogenous across MFI regulated status and lending categories. Among other things we find evidence that regulated MFIs (mostly comprised of privately-owned-MFIs) drive the cyclical behavior of lending in the microfinance industry. This might be due to regulatory pressures and the high exposure of these MFIs to economic uncertainties. Business cycles affect non-regulated and pro-poor MFIs to a lesser degree. Additionally, our findings reveal that individual loan contracts are more pro-cyclical than group loan contracts.</description><identifier>ISSN: 0148-2963</identifier><identifier>EISSN: 1873-7978</identifier><identifier>DOI: 10.1016/j.jbusres.2020.07.022</identifier><language>eng</language><publisher>Elsevier Inc</publisher><subject>Business cycle ; Business cycles ; Business schools ; Humanities and Social Sciences ; Lending ; Microfinance</subject><ispartof>Journal of business research, 2020-10, Vol.119, p.1-12</ispartof><rights>2020</rights><rights>Distributed under a Creative Commons Attribution 4.0 International License</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c453t-a766f609a3e9b294afab90cd72c32990e83dc745ca1d4068f19e76f0b9eed09a3</citedby><cites>FETCH-LOGICAL-c453t-a766f609a3e9b294afab90cd72c32990e83dc745ca1d4068f19e76f0b9eed09a3</cites><orcidid>0000-0003-4706-5496</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.sciencedirect.com/science/article/pii/S0148296320304689$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>230,314,776,780,881,3537,27901,27902,65534</link.rule.ids><backlink>$$Uhttps://hal.science/hal-03422314$$DView record in HAL$$Hfree_for_read</backlink></links><search><creatorcontrib>Tchakoute Tchuigoua, Hubert</creatorcontrib><creatorcontrib>Soumaré, Issouf</creatorcontrib><creatorcontrib>Hessou, Hélyoth T.S.</creatorcontrib><title>Lending and business cycle: Evidence from microfinance institutions</title><title>Journal of business research</title><description>Analyzing a sample of 5996 firm-year observations from 1444 microfinance institutions (MFIs) worldwide over the 2001–2014 period, we find evidence that the cyclical behavior of MFIs’ lending documented in previous literature is not homogenous across MFI regulated status and lending categories. Among other things we find evidence that regulated MFIs (mostly comprised of privately-owned-MFIs) drive the cyclical behavior of lending in the microfinance industry. This might be due to regulatory pressures and the high exposure of these MFIs to economic uncertainties. Business cycles affect non-regulated and pro-poor MFIs to a lesser degree. Additionally, our findings reveal that individual loan contracts are more pro-cyclical than group loan contracts.</description><subject>Business cycle</subject><subject>Business cycles</subject><subject>Business schools</subject><subject>Humanities and Social Sciences</subject><subject>Lending</subject><subject>Microfinance</subject><issn>0148-2963</issn><issn>1873-7978</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2020</creationdate><recordtype>article</recordtype><recordid>eNqFkE1LAzEURYMoWKs_QZiV4GLGl48mEzdSSrVCwY2uQ5q8qSltRibTov_eDC1uXT24nHvhHUJuKVQUqHzYVJvVPnWYKgYMKlAVMHZGRrRWvFRa1edkBFTUJdOSX5KrlDYAmYR6RGZLjD7EdWGjL_JKiJhS4X7cFh-L-SF4jA6Lpmt3xS64rm1CtEMSYupDv-9DG9M1uWjsNuHN6Y7Jx_P8fbYol28vr7PpsnRiwvvSKikbCdpy1CumhW3sSoPzijnOtAasuXdKTJylXoCsG6pRyQZWGtEPtTG5P-5-2q356sLOdj-mtcEspkszZMAFY5yKA83s3ZFd2y2aEF0be_zu13afkjFTKWrJuJCTDE6OYH4uZYnN3zIFM-g1G3PSawa9BpTJenPv6djD_PEhYGeSC4MsHzp0vfFt-GfhF3L8hcE</recordid><startdate>20201001</startdate><enddate>20201001</enddate><creator>Tchakoute Tchuigoua, Hubert</creator><creator>Soumaré, Issouf</creator><creator>Hessou, Hélyoth T.S.</creator><general>Elsevier Inc</general><general>Elsevier B.V</general><scope>AAYXX</scope><scope>CITATION</scope><scope>1XC</scope><scope>BXJBU</scope><scope>IHQJB</scope><scope>VOOES</scope><orcidid>https://orcid.org/0000-0003-4706-5496</orcidid></search><sort><creationdate>20201001</creationdate><title>Lending and business cycle: Evidence from microfinance institutions</title><author>Tchakoute Tchuigoua, Hubert ; Soumaré, Issouf ; Hessou, Hélyoth T.S.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c453t-a766f609a3e9b294afab90cd72c32990e83dc745ca1d4068f19e76f0b9eed09a3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2020</creationdate><topic>Business cycle</topic><topic>Business cycles</topic><topic>Business schools</topic><topic>Humanities and Social Sciences</topic><topic>Lending</topic><topic>Microfinance</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Tchakoute Tchuigoua, Hubert</creatorcontrib><creatorcontrib>Soumaré, Issouf</creatorcontrib><creatorcontrib>Hessou, Hélyoth T.S.</creatorcontrib><collection>CrossRef</collection><collection>Hyper Article en Ligne (HAL)</collection><collection>HAL-SHS: Archive ouverte en Sciences de l'Homme et de la Société</collection><collection>HAL-SHS: Archive ouverte en Sciences de l'Homme et de la Société (Open Access)</collection><collection>Hyper Article en Ligne (HAL) (Open Access)</collection><jtitle>Journal of business research</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Tchakoute Tchuigoua, Hubert</au><au>Soumaré, Issouf</au><au>Hessou, Hélyoth T.S.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Lending and business cycle: Evidence from microfinance institutions</atitle><jtitle>Journal of business research</jtitle><date>2020-10-01</date><risdate>2020</risdate><volume>119</volume><spage>1</spage><epage>12</epage><pages>1-12</pages><issn>0148-2963</issn><eissn>1873-7978</eissn><abstract>Analyzing a sample of 5996 firm-year observations from 1444 microfinance institutions (MFIs) worldwide over the 2001–2014 period, we find evidence that the cyclical behavior of MFIs’ lending documented in previous literature is not homogenous across MFI regulated status and lending categories. Among other things we find evidence that regulated MFIs (mostly comprised of privately-owned-MFIs) drive the cyclical behavior of lending in the microfinance industry. This might be due to regulatory pressures and the high exposure of these MFIs to economic uncertainties. Business cycles affect non-regulated and pro-poor MFIs to a lesser degree. Additionally, our findings reveal that individual loan contracts are more pro-cyclical than group loan contracts.</abstract><pub>Elsevier Inc</pub><doi>10.1016/j.jbusres.2020.07.022</doi><tpages>12</tpages><orcidid>https://orcid.org/0000-0003-4706-5496</orcidid><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0148-2963 |
| ispartof | Journal of business research, 2020-10, Vol.119, p.1-12 |
| issn | 0148-2963 1873-7978 |
| language | eng |
| recordid | cdi_hal_primary_oai_HAL_hal_03422314v1 |
| source | Elsevier ScienceDirect Journals |
| subjects | Business cycle Business cycles Business schools Humanities and Social Sciences Lending Microfinance |
| title | Lending and business cycle: Evidence from microfinance institutions |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-02-15T15%3A45%3A39IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-gale_hal_p&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Lending%20and%20business%20cycle:%20Evidence%20from%20microfinance%20institutions&rft.jtitle=Journal%20of%20business%20research&rft.au=Tchakoute%20Tchuigoua,%20Hubert&rft.date=2020-10-01&rft.volume=119&rft.spage=1&rft.epage=12&rft.pages=1-12&rft.issn=0148-2963&rft.eissn=1873-7978&rft_id=info:doi/10.1016/j.jbusres.2020.07.022&rft_dat=%3Cgale_hal_p%3EA648623465%3C/gale_hal_p%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_id=info:pmid/&rft_galeid=A648623465&rft_els_id=S0148296320304689&rfr_iscdi=true |