000			01587cam a2200205 4500500
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041			_afre
042			_adc
100	1	0	_aTchakoute Tchuigoua, Hubert _eauthor
245	0	0	_aGovernance and Ratings of Microfinance Institutions: Evidence from African Microfinance Institutions
260			_c2012.
500			_a93
520			_aThe aim of this paper is to empirically test the relationship between governance mechanisms and the rating of microfinance institutions in Africa. We study the influence of the board size, audit quality, regulation, and legal status using multiple ordinal logistic regressions on a sample of 112 microfinance institutions rated between 2002 and 2007. Due to a potential selection bias, the two-step Heckman (1979) selection model procedure is used to test the robustness of our findings. The results show that all governance mechanisms, except for regulation, are not relevant in the rating of MFIs. However, the rating score is explained by greater operational self-sufficiency, that is to say, the ability of MFIs to cover operating expenses by its financial revenues, and by its profitability. Furthermore, our findings suggest that the ratings are significantly associated with higher outreach of MFIs.
690			_amicrofinance
690			_agovernance
690			_aratings
690			_aAfrica
786	0		_nAccounting Auditing Control | Volume 18 | 1 | 2012-04-01 | p. 153-182 | 1262-2788
856	4	1	_uhttps://shs.cairn.info/journal-accounting-auditing-control-2012-1-page-153?lang=en&redirect-ssocas=7080
999			_c454838 _d454838