131762 20241125101158.0 doi 10.1016/j.qref.2023.10.007 sideral 137102 ART-2023-137102 eng Serrano-Cinca, Carlos Universidad de Zaragoza (orcid)0000-0003-2596-9638 Pathways to self-sufficiency in the microfinance ecosystem 2023 Access copy available to the general public Unrestricted We 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. info:eu-repo/grantAgreement/ES/AEI/PID2022-136818NB-I00 info:eu-repo/grantAgreement/ES/DGA/S38-23R info:eu-repo/semantics/openAccess by-nc-nd http://creativecommons.org/licenses/by-nc-nd/3.0/es/ 2.9 2023 ECONOMICS 124 / 600 = 0.207 2023 Q1 T1 0.662 2023 Finance 2023 Q2 Economics and Econometrics 2023 Q2 6.0 2023 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Cuellar-Fernández, Beatriz Universidad de Zaragoza (orcid)0000-0002-5557-0380 Fuertes-Callén, Yolanda Universidad de Zaragoza (orcid)0000-0002-6468-0944 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 92 (2023), 262-273 Q. rev. econ. finance Quarterly review of economics and finance 1062-9769 6450820 http://zaguan.unizar.es/record/131762/files/texto_completo.pdf Versión publicada 2893875 http://zaguan.unizar.es/record/131762/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:131762 articulos driver 2024-11-22-12:10:12 ARTICLE