Determinants of Board Structure in Microfinance Institutions: Evidence from East Africa

Neema Mori, Trond Randøy, Sougand Golesorkhi

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

Abstract

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.
OriginalsprogEngelsk
TidsskriftJournal of Emerging Market Finance
Vol/bind12
Udgave nummer3
Sider (fra-til)323-365
Antal sider43
ISSN0972-6527
DOI
StatusUdgivet - dec. 2013
Udgivet eksterntJa

Emneord

  • Board structure
  • Microfinance institutions
  • East Africa
  • Corporate governance

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