Rentabilidad de las instituciones de microfinanciación y de los prestatarios: una revisión sistemática de la literatura
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Publicado
11-09-2024
Salvador Fonseca
António Carrizo Moreira
Jorge Mota
https://orcid.org/0000-0002-9420-7904
António Carrizo Moreira
Jorge Mota
Resumen
Utilizando la base de datos SCOPUS, este documento lleva a cabo una revisión sistemática de la literatura (RSL) para identificar los factores que impulsan la rentabilidad financiera tanto de las instituciones de microfinanciación (IMFs) como de sus beneficiarios. De los 174 documentos revisados, 39 abordaban los determinantes de la rentabilidad de las IMFs y los beneficiarios. Para las IMFs, se destacan varios factores: financiación para mujeres y créditos colectivos, calidad de la cartera; supervisión de los clientes; tasas adecuadas de interés activas y pasivas; y control de costes operativos. Para los beneficiarios, la formación en gestión de pequeñas empresas; la generación de ideas de negocio innovadoras y bien estructuradas, el acceso al microcrédito y a un tipo de interés pasivo adecuado, la supervisión por parte de las IMFs y el crédito centrado en la inversión, se considera que impulsan la rentabilidad sin poner en peligro el alcance y la profundidad de sus operaciones. De este modo, las IMFs pueden crecer y ampliar sus servicios de forma financieramente sostenible, y atender mejor a las personas excluidas. Estos resultados proporcionan un marco valioso a los responsables políticos a la hora de diseñar políticas de microfinanciación dirigidas a la reducción de la pobreza. Una posible conjetura resultante de este estudio es que la sostenibilidad financiera de las microfinanzas no reside en los subsidios, sino en la aplicación de las reglas del mercado. Al identificar dos conjuntos de factores que impulsan la rentabilidad, para las IMFs y para los beneficiarios, este trabajo proporciona una interfaz que incorpora indicadores de medición.
Cómo citar
Fonseca, . S., Carrizo Moreira, A., & Mota, J. (2024). Rentabilidad de las instituciones de microfinanciación y de los prestatarios: una revisión sistemática de la literatura. Cuadernos De Gestión, 24(2), 39–53. https://doi.org/10.5295/cdg.232011am
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Keywords
Beneficio, Rendimiento Financiero, Instituciones de Microfinanciación, Prestatario, Revisión Sistemática
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Arunkumar, S., Anand, A., Anand, V. V., Rengarajan, V., & Shyam, M. (2016). Empowering rural women through micro finance: An empirical study. Indian Journal of Science and Technology, 9(27), 1-14. https://doi.org/10.17485/ijst/2016/v9i27/97597
Asif, M., Lodhi, R. N., Sarwar, F., & Ashfaq, M. (2023). Dark side whitewashes the benefits of FinTech innovations: a bibliometric overview. International Journal of Bank Marketing. https://doi.org/10.1108/IJBM-10-2022-0438
Baas, J., Schotten, M., Plume, A., Côté, G., & Karimi, R. (2020). Scopus as a curated, high-quality bibliometric data source for academic research in quantitative science studies. Quantitative Science Studies, 1(1), 377-386. https://doi.org/10.1162/
qss_a_00019
Baklouti, I. (2013). Determinants of microcredit repayment: The case of Tunisian microfinance bank. African Devel-opment Review, 25(3), 370-382. https://doi.org/10.1111/j.1467-8268.2013.12035.x
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Bhanot, D., & Bapat, V. (2015). Sustainability index of micro finance institutions (MFIs) and contributory factors. In-ternational Journal of Social Economics, 42(4), 387-403. https://doi.org/10.1108/IJSE-01-2014-0001
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Bradley, S. W., Artz, K., & Hulett, J. (2012). The innovation necessity: Evidence from microcredit in the Dominican Republic. Journal of International Developmen, 24(S1), S112-S121. https://doi.org/10.1002/jid.1761
Brau, J. C., Hiatt, S., & Woodworth, W. (2009). Evaluating impacts of microfinance institutions using Guatemalan data. Managerial Fi-nance, 35(12), 953-974. https://doi.org/10.1108/03074350911000025
Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology, Qualitative Research in Psychology, 3(2), 77-101, DOI: 10.1191/1478088706qp063oa
Brett, J. A. (2006). We sacrifice and eat less: The structural complexities of microfinance participation. Human Or-ganization, 65(1), 8-19. https://doi.org/10.17730/humo.65.1.6wvq3ea7pbl38mub
Bumacov, V., Ashta, A., & Singh, P. (2017). Poverty scoring and financial inclusion of the poor. Strategic Change, 26(6), 555-562. https://doi.org/10.1002/jsc.2166
Caserta, M., Monteleone, S., & Reito, F. (2018). The trade-off between profitability and outreach in microfinance. Economic Modelling, 72, 31-41. https://doi.org/10.1016/j.econmod.2018.01.003
Crombrugghe, A., Tenikue, M., & Sureda, J. (2008). Performance analysis for a sample of microfinance institutions in India. Annals of Public and Cooperative Economics, 79(2), 269-299. https//:doi.org/10.1111/j.1467-8292.2008.00362.x
Denyer, D., & Tranfield, D. (2009). Producing a systematic review. In D. A. Buchanan & A. Bryman (Eds.), The Sage handbook of organizational research methods (pp. 671-689). Thousand Oaks, Califórnia, EUA: Sage Publications Ltd.
Estapé-Dubreuil, G., & Torreguitart-Mirada, C. (2015). Governance mechanisms, social performance disclosure and performance in microfinance: Does legal status matter? Annals of Public and Cooperative Economics, 86(1), 137-155. https://doi.org/10.1111/apce.12070
Fadikpe, A. A. A., Danquah, R., Aidoo, M., Chomen, D. A., Yankey, R., & Dongmei, X. (2022). Linkages between social and financial performance: Evidence from Sub-Saharan Africa microfinance institutions. PLoS ONE, 17(3), 1-23. https://doi.org/10.1371/journal.pone.0261326
Field, E., Pande, R., Papp, J., & Park, Y. J. (2012). Repayment flexibility can reduce financial stress: A randomized control trial with microfinance Clients in India. PLoS ONE, 7(9), 1-7. https://doi.org/10.1371/journal.pone.0045679
Gil-Lamata, M., & Martínez, M. (2022). The circular economy and sustainability: A systematic literature review. Cuadernos de Gestión, 22, 129-142. doi:10.5295/cdg.211492mg
Gupta, N., & Mirchandani, A. (2020). Corporate governance and performance of microfinance institutions: recent global evidences. Journal of Management and Governance, 24(2), 307-326. https://doi.org/10.1007/s10997-018-9446-4
Harper, M. (2012). Microfinance interest rates and client returns. Journal of Agrarian Change, 12(4), 564-574. https://doi.org/10.1111/j.1471-0366.2012.00374.x
Hemtanon, W., & Gan, C. (2020). An empirical analysis of Thai village funds and saving groups’ financial perfor-mance. Banks and Bank Systems, 15(2), 153-166. https://doi.org/10.21511/bbs.15(2).2020.14
Hermes, N., Lensink, R., & Meesters, A. (2011). Outreach and efficiency of microfinance Institutions. World Devel-opment, 39(6), 938-948. https://doi.org/10.1016/j.worlddev.2009.10.018
Hossain, B., & Wadood, S. (2020). Impact of urban microfinance on the livelihood strategies of borrower slum dwellers in the Dhaka city, Bangladesh. Journal of Urban Management, 9(2), 151-167. https://doi.org/10.1016/j.jum.2019.12.003
Janda, K., & Turbat, B. (2013). Determinants of the financial performance of microfinance institutions in Central Asia. Post-Communist Economies, 25 (4), 557-568. https://doi.org/10.1080/14631377.2013.844935
Jumpah, E. T., Tetteh, E. K., & Adams, A. (2018). Microcredit repayment among smallholder farmers: What micro-finance institutions need to know. Asian Journal of Agriculture and Rural Development, 8(2), 74-91. https://doi.org/10.18488/Journal.1005/2018.8.2/1005.2.74.91
Kar, A. K. (2013). Mission drift in microfinance: Are the concerns really worrying? Recent cross-country results. In-ternational Review of Applied Economics, 27(1), 44-60. https://doi.org/10.1080/02692171.2012.700701
Karaivanov, A. (2018). Non-grant microfinance, incentives and efficiency. Applied Economics, 50(23), 2509-2524. https://doi.org/10.1080/00036846.2017.1400655
Kasoga, P. S., & Tegambwage, A. G. (2021). An assessment of over-indebtedness among microfinance institutions’ borrowers: The Tanzanian perspective. Cogent Business and Management, 8(1), 1930499. https://doi.org/10.1080/23311975.2021.1930499
Kendo, S., & Tchakounte, J. (2022). Impact of asset size on performance and outreach using panel quantile regres-sion with non-additive fixed effects. Empirical Economics, 62(1), 65-92. https://doi.org/10.1007/s00181-021-02057-9
Kessy, S., & Temu, S. S. (2010). The impact of training on performance of micro and small enterprises served by mi-crofinance institutions in Tanzania. Research Journal of Business Management, 4(2), 103-111. https://doi.org/10.3923/rjbm.2010.103.111
Kumar, N., & Sensarma, R. (2017). Efficiency of microfinance institutions in India: A stochastic distance function ap-proach. Journal of Emerging Market Finance, 16(2), 151-168. https://doi.org/10.1177/0972652717712372
Lopatta, K., Tchikov, M., Jaeschke, R., & Lodhia, S. (2017). Sustainable development and microfinance: The effect of outreach and profitability on microfinance institutions’ development mission. Sustainable Development, 25(5), 386-399. https://doi.org/10.1002/sd.1663
Mosley, P., & Hulme, D. (1998). Microenterprise finance: is there a conflict between growth and poverty allevia-tion? World Development, 26(5), 783-790. https://doi.org/10.1016/S0305-750X(98)00021-7
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