6533b7d8fe1ef96bd126a239
RESEARCH PRODUCT
Determinants of Board Structure in Microfinance Institutions: Evidence from East Africa
Sougand GolesorkhiNeema MoriTrond Randøysubject
Economics and EconometricsEconomic growthMicrofinanceResource dependence theoryGender diversityCorporate governancemedia_common.quotation_subjectIndependencelaw.inventionlawAgency (sociology)East africaBusinessFinancemedia_commonDiversity (business)description
This study investigates the association between the unique characteristics of microfinance institutions and board structure. The agency and resource dependence theories provided theoretical guidance for this study. Using a panel dataset of 63 microfinance institutions in East Africa, we found that the presence of regulations and international influence is associated with larger boards, while the presence of founders is associated with small boards and less board independence. There is a higher level of board gender diversity in microfinance institutions managed by founders. There is greater diversity of nationalities in microfinance institutions that are internationally influenced. The implications for practice and theory from this study are further discussed. JEL Classification: G21, G34
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2013-12-01 | Journal of Emerging Market Finance |