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Gouvernance et notation des institutions de microfinance : Une étude empirique des institutions de microfinance africaines

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  • Hubert Tchakoute Tchuigoua

Abstract

The aim of the paper is to empirically test the relationship between governance mechanisms and the rating of microfinance institutions in Africa. We study the in?uence of the board size, audit quality, regulation and legal status using multiple ordinal logistic regressions on a sample of 112 microfinance institutions rated between 2002 and 2007. Due to a potential selection bias, the two-step Heckman (1979) selection model procedure is used to test the robustness of our findings. The results show that, all governance mechanisms, except for regulation, are not relevant in the rating of MFIs. However, the rating score is explained by greater operational self-sufficiency, that is to say, the ability of MFIs to cover operating expenses by its financial revenues, and by its profitability. Furthermore, our findings suggest that the ratings are significantly associated with higher outreach of MFIs.

Suggested Citation

  • Hubert Tchakoute Tchuigoua, 2012. "Gouvernance et notation des institutions de microfinance : Une étude empirique des institutions de microfinance africaines," ACCRA, Association francophone de comptabilité, vol. 18(1), pages 153-182.
    • Handle: RePEc:cai:accafc:cca_181_0153
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    Cited by:

    1. Tchakoute Tchuigoua, Hubert, 2015. "Determinants of the governance quality of microfinance institutions," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 32-43.
    2. Akouvi Gadedjisso-Tossou & Curwitch P’ham Bodjona & Maman Tachiwou Aboudou & Jean-Pierre Gueyie, 2021. "The Influence of CSR Practices on the Financial Performance of Microfinance Institutions in Togo," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 13(2), pages 1-52, February.

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