.png)
Un marco compuesto para la evaluación de las IMFNB: Evidencia de una economía emergente
Barra lateral del artículo
Contenido principal del artículo
Resumen
Las Instituciones de Microfinanzas No Bancarias (NBMFIs, por sus siglas en inglés) son fundamentales para el desarrollo financiero inclusivo; sin embargo, su viabilidad a largo plazo en las economías en desarrollo sigue siendo una preocupación poco explorada. Este estudio construye un Índice de Sostenibilidad compuesto, adaptado al panorama de las microfinanzas en Bangladés, a partir de un marco multidimensional que integra la relación de desempeño operativo, la profundidad del alcance y la amplitud de la clientela. Utilizando la metodología TOPSIS, se calcularon puntajes de sostenibilidad para 50 NBMFIs de Bangladés en dos categorías institucionales. El análisis revela una amplia variación en el desempeño de sostenibilidad, con valores que oscilan entre 0,97 y 0,20. Para comprender los determinantes de esta divergencia, se estimó un modelo de regresión múltiple que vincula la sostenibilidad con métricas financieras y operativas internas. La Cartera Total de Préstamos (TLP) y los Depósitos Movilizados (DPM) surgen como predictores positivos de sostenibilidad, mientras que el Apalancamiento (LEV) y la Cartera en Riesgo a 30 días (RISK30) ejercen una presión negativa significativa. Estos resultados no solo subrayan la doble exigencia de eficiencia financiera y control del riesgo, sino que también ofrecen una herramienta diagnóstica para reguladores, donantes y gestores institucionales. El marco del índice es generalizable y ofrece aplicaciones potenciales para evaluaciones comparativas entre regiones y a lo largo del tiempo.
Detalles del artículo
Sección
Cómo citar
Referencias
Abdullah, S., Mohd Nawi, M. N., Halim, M. A. S. A., Omar, K., Rosli, N. A., & Harun, A. N. (2024). Digital Transformation for Sustainable Business Performance: A Systematic Literature Review. UCJC Business and Society Review, 21(80), 48–83. https://doi.org/10.3232/UBR.2024.V21.N1.02
Ahamad, S., Ahmed, S. U., Islam, M. A., Yusof, M. F. B., Ali, M. H., Mostafiz, M. I., & Joarder, M. H. R. (2025). Environmental, Social, and Governance Practices and Microfinance Institutions Sustainability: A Global Study. Sustainable Development. Forthcoming. https://doi.org/10.1002/sd.70252
Ahlin, C., & Jiang, N. (2008). Can micro-credit bring development? Journal of Development Economics, 86(1), 1–21. https://doi.org/10.1016/j.jdeveco.2007.08.002
Alsaadi, A. S. A. A. A., & Khudari, M. (2024). The Dynamic Relationship between Good Governance and Economic Growth in Oman. UCJC Business and Society Review, 21(80), 546–607. https://doi.org/10.3232/UBR.2024.V21.N1.13
Ashraf, D. (2022). Environmental, social and governance integration: the case of microfinance institutions. Accounting & Finance, 62(1), 837-891. https://doi.org/10.1111/acfi.12812
Beisland, L. A., Zamore, S., & Mersland, R. (2023). Does it pay to be green? A study of the global microfinance industry. Nonprofit and Voluntary Sector Quarterly, 52(3), 631-653. https://doi.org/10.1177/08997640221110209
Benito-Bentué, D., Marco-Fondevila, M., & Scarpellini, S. (2022).
Financial Institutions Facing the Challenge of the European Taxonomy of Sustainable Investments and the Circular Economy Disclosure. UCJC Business and Society Review, 19(73), 120–161. https://doi.org/10.3232/UBR.2022.V19.N2.03
Bhanot, D., & Bapat, V. (2015). Sustainability index of micro finance institutions (MFIs) and contributory factors. International Journal of Social Economics, 42(4), 387–403. https://doi.org/10.1108/IJSE-01-2014-0001
Bogan, V. L. (2012). Capital structure and Sustainability: An empirical study of Non-Banking Microfinance Institutions. Review of Economics and Statistics, 94(4), 1045–1058. https://doi.org/10.1162/REST_a_00223
Cull, R., Demirgu¨ ç‐Kunt, A., & Morduch, J. (2007). Financial performance and outreach: A global analysis of leading microbanks. The Economic Journal, 117(517), F107–F133. https://doi.org/10.1111/j.1468-0297.2007.02017.x
Godquin, M. (2004). Microfinance repayment performance in Bangladesh: How to improve the allocation of loans by MFIs. World Development, 32(11), 1909–1926. https://doi.org/10.1016/j.worlddev.2004.05.011
Gregoire, J. R., & Tuya, O. R. (2006). Cost efficiency of Non-Banking Microfinance Institutions in Peru: A stochastic frontier approach. Latin American Business Review, 7(2), 41–70. https://doi.org/10.1300/J140v07n02_03
Hartarska, V., & Nadolnyak, D. (2007). Do regulated microfinance institutions achieve better sustainability and outreach? Cross-country evidence. Applied Economics, 39(10), 1207–1222. https://doi.org/10.1080/00036840500461840
Hwang, C. L., Yoon, K. (1981). Methods for multiple attribute decision making. In Multiple Attribute Decision Making. Lecture Notes in Economics and Mathematical Systems (pp. 58-191). Berlin, Heidelberg: Springer. https://doi.org/10.1007/978-3-642-48318-9_3
Kyereboah‐Coleman, A. (2007). The impact of capital structure on the performance of microfinance institutions. The Journal of Risk Finance, 8(1), 56–71. https://doi.org/10.1108/15265940710721082
Lee, S., Han, K. C., Suk, D. Y., & Sung, H. M. (2025). COVID-19 pandemic impact on microfinance industry. Future Business Journal, 11(1), 56. https://doi.org/10.1186/s43093-025-00479-w
Malhotra, M. (1995, October). Maximizing the outreach of microenterprise finance: The emerging lessons of successful programs: The consultative group to assist the poorest. [A Microfinance Program]. Retrieved from https://www.cgap.org/sites/default/files/CGAP-Focus-Note-Maximizing-the-Outreach-of-Microenterprise-Finance-The-Emerging-Lessons-of-Successful-Programs-Oct-1995.pdf
Millson, H. F. (2013). The trade-off between sustainability and outreach: The experience of commercial microfinance institutions (Doctoral dissertation). Haverford College. Department of Economics. http://hdl.handle.net/10066/10992
Morduch, J. (2000). The microfinance schism. World Development, 28(4), 617–629. https://doi.org/10.1016/S0305-750X(99)00151-5
Nyamsogoro, G. D. (2010). Financial sustainability of rural micro finance institutions (MFIs) in Tanzania (Doctoral dissertation, The University of Greenwich). Retrieved from https://scholar.mzumbe.ac.tz/items/758aacf8-9e73-49ba-b6c8-6339d5ced152
Rai, A. K., & Rai, S. (2012). Factors affecting financial sustainability of microfinance institutions. Journal of Economics and Sustainable Development, 3(6), 1–9.
Tucker, M., & Miles, G. (2004). Financial performance of microfinance institutions: a comparison to performance of regional commercial banks by geographic regions. Journal of Microfinance/ESR Review, 6(1), 41–54.
Wald, J. K. (1999). How firm characteristics affect capital structure: an international comparison. Journal of Financial Research, 22(2), 161–187. https://doi.org/10.1111/j.1475-6803.1999.tb00721.x
Woller, G. M., Dunford, C., & Woodworth, W. (1999). Where to microfinance. International Journal of Economic Development, 1(1), 29–64. https://warnerwoodworth.com/wp-content/uploads/2019/10/where_to_microfinance.pdf
Xu, W., Fu, H., & Liu, H. (2019). Evaluating the sustainability of microfinance institutions considering macro-environmental factors: A cross-country study. Sustainability, 11(21), 5947. https://doi.org/10.3390/su11215947