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The social performance of microfinance investment vehicles


Meyer, Julia; Krauss, Annette (2021). The social performance of microfinance investment vehicles. Journal of Sustainable Finance, 11(2):163-186.

Abstract

Assessing whether investments result in the desired non-financial performance is a key concern in the fast growing field of impact investments, including microfinance. The social performance of the institutions that offer financial inclusion services to underprivileged populations has come under increasing scrutiny, whereas the social performance of the investment vehicles that in turn finance these institutions is researched less. This paper makes use of several large data sets to develop an approach to measure the social performance of microfinance investment vehicles. Drawing on methods from empirical social science and the literature on non-financial ratings of firms, we develop formal quality criteria that the selection of individual social performance indicators and their aggregation into a single metric need to satisfy.

Abstract

Assessing whether investments result in the desired non-financial performance is a key concern in the fast growing field of impact investments, including microfinance. The social performance of the institutions that offer financial inclusion services to underprivileged populations has come under increasing scrutiny, whereas the social performance of the investment vehicles that in turn finance these institutions is researched less. This paper makes use of several large data sets to develop an approach to measure the social performance of microfinance investment vehicles. Drawing on methods from empirical social science and the literature on non-financial ratings of firms, we develop formal quality criteria that the selection of individual social performance indicators and their aggregation into a single metric need to satisfy.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Social Sciences & Humanities > Business and International Management
Social Sciences & Humanities > Finance
Social Sciences & Humanities > Economics, Econometrics and Finance (miscellaneous)
Scope:Discipline-based scholarship (basic research)
Language:English
Date:2021
Deposited On:08 Nov 2021 12:26
Last Modified:25 Jun 2024 01:47
Publisher:Taylor & Francis
ISSN:2043-0795
OA Status:Closed
Publisher DOI:https://doi.org/10.1080/20430795.2020.1715094
Other Identification Number:merlin-id:19035