000131762 001__ 131762 000131762 005__ 20241125101158.0 000131762 0247_ $$2doi$$a10.1016/j.qref.2023.10.007 000131762 0248_ $$2sideral$$a137102 000131762 037__ $$aART-2023-137102 000131762 041__ $$aeng 000131762 100__ $$0(orcid)0000-0003-2596-9638$$aSerrano-Cinca, Carlos$$uUniversidad de Zaragoza 000131762 245__ $$aPathways to self-sufficiency in the microfinance ecosystem 000131762 260__ $$c2023 000131762 5060_ $$aAccess copy available to the general public$$fUnrestricted 000131762 5203_ $$aWe used latent class growth analysis to study the trajectories followed by microfinance institutions for 10 years. This technique can detect groups of firms that follow different patterns of change over time. We identified groups of institutions that followed the same strategy and iso-performance groups of institutions with the same outcome trajectory. The trajectories were analyzed with categorical regression and decision trees, which constitutes a novel approach to latent class growth analysis. Lending money to the poorest while making a profit is not straightforward and it is challenging for microfinance institutions to be self-sufficient. We found that the most useful strategy was to improve efficiency by lowering operating costs, followed by the control of credit risk. Deviating from the mission also had a positive effect on self-sufficiency, but was a strategy followed by few institutions. Rarely did changes in interest rates or not lending to women prove valuable. The findings are useful for the stakeholders of these institutions and particularly for managers. 000131762 536__ $$9info:eu-repo/grantAgreement/ES/AEI/PID2022-136818NB-I00$$9info:eu-repo/grantAgreement/ES/DGA/S38-23R 000131762 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/ 000131762 590__ $$a2.9$$b2023 000131762 592__ $$a0.662$$b2023 000131762 591__ $$aECONOMICS$$b124 / 600 = 0.207$$c2023$$dQ1$$eT1 000131762 593__ $$aFinance$$c2023$$dQ2 000131762 593__ $$aEconomics and Econometrics$$c2023$$dQ2 000131762 594__ $$a6.0$$b2023 000131762 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000131762 700__ $$0(orcid)0000-0002-5557-0380$$aCuellar-Fernández, Beatriz$$uUniversidad de Zaragoza 000131762 700__ $$0(orcid)0000-0002-6468-0944$$aFuertes-Callén, Yolanda$$uUniversidad de Zaragoza 000131762 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab. 000131762 773__ $$g92 (2023), 262-273$$pQ. rev. econ. finance$$tQuarterly review of economics and finance$$x1062-9769 000131762 8564_ $$s6450820$$uhttps://zaguan.unizar.es/record/131762/files/texto_completo.pdf$$yVersión publicada 000131762 8564_ $$s2893875$$uhttps://zaguan.unizar.es/record/131762/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000131762 909CO $$ooai:zaguan.unizar.es:131762$$particulos$$pdriver 000131762 951__ $$a2024-11-22-12:10:12 000131762 980__ $$aARTICLE