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Analysis of microfinance performance and development of informal institutions in Cameroon( Télécharger le fichier original )par Brice Gaétan DJAMAMAN Amity University (India) - Master of Finance and Control 2012 |
VI.2- Limitations and recommendationsThe occurrence of mission drift involves both the financial and social performance of MFIs. Consequently, this research required a comprehensive analysis of the performance of MFIs. Choices have been made, leading to limitations and recommendations. First of all, we have faced several problems at the level of data collection. Indeed social and financial data concerning Cameroon?s microfinance institution are very limited. However the existing data are difficult to access and sometimes there are not available and classified as confidential. In addition, the lack of data over several periods, making it impossible timing analysis that would allow us to better appreciate the impact of financial performance on the degree of social significance and vice versa. Regarding the analysis method we used, we could also assess the financial performance of MFIs using DEA (Data Enveloping Analysis) as suggested by D'ARCIMOLES and TRÉBUCQ at the end of their article. Moreover Cull, Kunt and Morduch (2007) in their analysis of the trade-off between profitability and serving the poorest, their disaggregated variables depending on the type of loan used (lending type), ie according to whether individual loans and group loans. It would be interesting to add this variable, but we do not have the necessary data. Another control variable that was also very relevant is the interest rate on loans. However, we noticed that Cameroonian MFIs do not use the research and development variable as observed in other countries. The lack of this variable also reduces the efficiency of assessment of MFIs. The lack of data concerning the number of women borrowers does not also Analysis of microfinances' performance and development of informal institutions in Cameroon By Djamaman Brice Gaétan enable a better analysis and understanding the deep of outreach of the poorest population, also called the social performance indicator. Sometimes, we face another problem which is non-availability of the information in microfinances? websites and even on the National Institute of Statistics website, Ministry of Finance, Ministry of Economics and other financial related institutions such as banks and libraries. The most significant difficulty was the assessment of the impact of MFIs on the development of the informal sector. This is because data about Cameroonian informal sector are very scarce and sometimes inaccessible. Our task was therefore difficult but finding solutions to this problem came out to be interesting. Indeed we made use of the fixed deposits and gross loans in favour of clients and we used these data as informal sector indicators. Moreover the relevance of this study is the lack of related research in the same field of study in our country. Therefore, for further researches, this thesis could be used to improve the assessment of microfinance activities in Cameroon. 82 83 Analysis of microfinances' performance and development of informal institutions in Cameroon By Djamaman Brice Gaétan REFERENCES Allouche, José et Laroche, Patrice. 2005. "A Meta-analytical Investigation of the Link between Corporate Social and Financial Performance?" Revue de Gestion des Ressources Humaines, Juill-août-sept, pp.18-41. CGAP (2003) «Microfinance Consensus Guidelines» Retrieved 25 June 2009, from the world wide web: http://www.cgap.org/gm/document-1.9.2784/Guideline_definitions.pdf. CGAP (2006) «Access for All: Building Inclusive Financial Systems». Retrieved 2 June 2009, from the world wide web: http://www.cgap.org/gm/document-1.9.2715/Book_AccessforAll.pdf. CGAP (2007) «Beyond good intentions: measuring the social performance of microfinance institutions». Foucs Note No. 41. Retrieved 25 June 2009, from the world wide web: http://www.cgap.org/gm/document-1.9.2581/FocusNote_41.pdf. Cull R., Demirguc-Kunt A., Morduch J. (2006): «Financial performance and outreach: a global analysis of leading microbanks», Policy Research Working Paper Series 3827, The World Bank. Cull, R., Demirguç-Kunt, A. & Morduch, J. (2007) «Financial performance and outreach: a global analysis of leading microbanks». In Economic Journal, Royal Economic Society, volume 117(517), pp. F107-F133, 02. D'Arcimoles C.-H., Trébucq S. (2004) : «Étude de l'influence de la performance sociétale sur la performance financière et le risque des sociétés françaises cotées (1995-2002)» La Semaine Sociale, 1186, octobre, pp 108-117. Griffin J.J., Mahon J.F. (1997), «The Corporate Social Performance and Corporate Financial Performance Debate - Twenty-Five Years of Incomparable Research », Business & Society, vol 36, n°1, march, p. 5-31. Hishigsuren, G. (2007) «Evaluating Mission Drift in Microfinance: Lessons for Programs with Social Mission». In Evaluation Review, volume 31, number 3. Morduch J. (2000); «The microfinance schism» World Development, 28 (4), pp 617-629. Navajas S. Schreiner M., Meyer R.C., Gonzalez-Vega C., Rodriguez-Meza J. (2000): «Microcredit and the Poorest of the Poor: Theory and Evidence from Bolivia», World Development, 28 (2), pp 333-346. Preston L.E., O'Bannon D.P.(1997), « The Corporate Social-Financial Performance Analysis of microfinances' performance and development of informal institutions in Cameroon By Djamaman Brice Gaétan Relationship - A Typology and Analysis» Business & Society, vol 36, n°4, December, p. 419-429. Ullman A. (1985), «Data in Search of a Theory : A Critical Examination of the Relationship Among Social Performance, Social Disclosure, and Economic Performance», Academy of Management Review, vol 10, p. 540-577. Waddock S.A., Graves S. B. (1997); «The corporate Social performance-Financial performance Link», Academy of management Review, 10 (4), pp 303-319. 84 85 Analysis of microfinances' performance and development of informal institutions in Cameroon By Djamaman Brice Gaétan APPENDICES APPENDIX A: List of variables
APPENDIX B: Abbreviations
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