Working Papers
The work in progress conducted by researchers at CERMi is published in working paper format in the collections of the Centre Emile Bernheim de Recherche Interdisciplinaire en Gestion and the Warocqué School of Business and Economics.
Warocqué School of Business and Economics Publications
CERMi members are indicated by a star (*) after their name.
********
2022
WP CEBRIG
S. CORNEE*, A. COZARENCO*, A. SZAFARZ*
The Changing Role of Banks in the Financial System: Social versus Conventional Banks
WP-CEBRIG: N°22-002
A. COZARENCO*, V. HARTARSKA*, A. SZAFARZ*
Subsidies to microfinance institutions: How do they affect cost efficiency and mission drift?
WP-CEBRIG: N°22-001
2021
WP CEBRIG
P. REICHERT, M. HUDON*, A. SZAFARZ* & R.K CHRISTENSEN
WP-CEBRIG: N°21-014
A. PERILLEUX* & A. SZAFARZ*
Women in the boardroom: A bottom-up approach to the tickle-down effect
WP-CEBRIG: N°21-005
G. DORFLEITNER*, D. FORCELLA* and Q. ANH NGUYEN
Why microfinance institutions go digital: An empirical analysis
WP-CEBRIG: N°21-003
M. BRIÈRE and A. SZAFARZ*
When it Rains, it Pours: Multifactor Asset Management in Good and Bad Times
WP-CEBRIG: N°21-002
S. CORNÉE*, M. JEGERS and A. SZAFARZ*
Feasible Institutions of Social Finance: A Taxonomy
WP-CEBRIG: N°21-001
2020
WP CEB
A. COZARENCO* and A. SZAFARZ*
The Regulation of Prosocial Lending: Are Loan Ceilings Effective?
WP-CEBRIG: N°20-012
D. NAJMAEI LONBANI and B. DE ROCK
The performance of microfinance institutions: An analysis of the local and legal constraints
WP-CEBRIG: N°20-011
GUERIN* I., S. MICHIELS, A. NATAL, C. JALIL NORDMAN and G. VENKATASUBRAMANIAN
Surviving debt, survival debt in times of lockdown
WP-CEBRIG: N°20-009
GAFNI H., M. HUDON* and A. PERILLEUX*
Business or basic needs ?The impact of loan purpose on social crowdfunding platforms
WP-CEBRIG: N°20-008
A. COZARENCO* and A. SZAFARZ*
Financial Inclusion in High-Income Countries: Gender Gap or Poverty Trap ?
WP-CEBRIG: N°20-006
A. PERILLEUX* and A. SZAFARZ*
Women Leaders and Social Performance: Evidence from Financial Cooperatives in Senegal
PostPrintCEB025
C. VARENDH-MANSSON, T. WRY and A. SZAFARZ*
Anchors Aweigh? Then Time to Head Upstream Why we Need to Theorize “Mission” before “Drift”
PostPrintCEB024
2019
WP CEB
M. ABRAMOWICZ & A. SZAFARZ*
“Ethics of Randomized Controlled Trials: Should Economists Care about Equipoise?“
WP-CEB: N°19-017
I. GUERIN*, C. NORDMAN and E. REBOUL
“The gender of debt and the financialisation of development. Insights from rural southern India“
WP-CEB: N°19-016
REBOUL E., I. GUERIN*, A. RAJ and G. VENKATASUBRAMANIA
“Managing Economic Volatility. A Gender Perspective“
WP-CEB: N°19-015
HUDON* M., M. LABIE* and A. SZAFARZ*
“A long time ago in a galaxy far, far away… How microfinance evolved and how research followed,”
WP-CEB: N°19-013
NYA TCHATCHOUA M., I. PIGNATEL and H. TCHAKOUTE TCHUIGOUA*
“What type of microfinance institutions comply with International Financial Reporting Standards?,”
WP-CEB: N°19-012
HUDON* M., M. LABIE* and A. SZAFARZ*
WP-CEB: N°19-011
MERSLAND* R., S. ANOKYE NYARKO* and A. SZAFARZ*
“Do Social Enterprises Walk the Talk? Assessing Microfinance Performances with Mission Statements“
WP-CEB: N°19-008
GUTIÉRREZ-NIETO* B. and C. SERRANO-CINCA
“20 Years of Research in Microfinance: An Information Management Approach“
WP-CEB: N°19-005
COZARENCO* A., V. HARTARSKA and A. SZAFARZ*
WP-CEB: N°19-001
2018
HERMES* N. and M. HUDON*
“Determinants of the Performance of Microfinance Institutions: A Systematic Review“
WP-CEB: N°18-024
MEYER* C. and M. HUDON*
“Money and the Commons: An Investigation of Complementary Currencies and their Ethical Implications“
WP-CEB: N°18-019
MORDUCH J. and A. SZAFARZ*
“Earning to Give: Occupational Choice for Effective Altruists“
WP-CEB: N°18-017
CORNÉE* S., M. JEGERS, and A. SZAFARZ*
WP-CEB: N°18-010
2017
LAURETI* C., A. DE JANVRY, and E. SADOULET
“Flexible Microfinance Products for Financial Management by the Poor: Evidence from SafeSave“
WP-CEB: N°17-036
GLÉMAIN* P.
“Advocacy for a History of Thought and Organizations in Social Banking in France (SSE)“
WP-CEB: N°17-032
LAURETI* C. and A. SZAFARZ*
“Behavioral Banking: A Theory of the Banking Firm with Time-Inconsistent Depositors“
WP-CEB: N°17-028
CORNÉE* S., P. KALMI, and A. SZAFARZ*
“How Costly is Social Screening? Evidence from the Banking Industry“
WP-CEB: N°17-026
HUDON* M., M. LABIE*, and P. REICHERT*
“What is a Fair Profit for Social Enterprise? Insights from Microfinance“
WP-CEB: N°17-024
MEYER* C. and M. HUDON*
“Alternative organizations in finance: commoning in complementary currencies“
WP-CEB: N°17-015
DE PRIL J. and C. GODFROID*
“How to Reconcile Financial Incentives and Prosocial Motivation of Loan Officers in Microfinance?“
WP-CEB: N°17-011
GARIKIPATI* S., I. GUÉRIN*, S. JOHNSON*, and A. SZAFARZ*
“Microfinance and Gender: Issues, Challenges and the Road Ahead“
WP-CEB: N°17-010
LAURETI* C.
“Why do Poor People Co-hold Debt and Liquid Savings?“
WP-CEB: N°17-007
ARTIS A. and S. CORNÉE*
“Composition, Interpretation and Memorisation of the Idiosyncratic Knowledge in Social Banking“
WP-CEB: N°17-002
2016
PASCAL D., L. ATLE BEISLAND, and R. MERSLAND*
“The origin of CEOs and its influence on microfinance performance and risk-taking“
WP-CEB: N°16-046
MERSLAND* R., D. PASCAL, and L. ATLE BEISLAND
WP-CEB: N°16-045
D’ESPALLIER* B., J. GOEDECKE, M. HUDON*, and R. MERSLAND*
WP-CEB: N°16-029
COZARENCO* A. and A. SZAFARZ*
“Microcredit in Industrialized Countries: Unexpected Consequences of Regulatory Loan Ceilings“
WP-CEB: N°16-021
STROM R.O., B. D’ESPALLIER*, and R. MERSLAND*
“Female leaders and financial inclusion: Evidence from microfinance institutions“
WP-CEB: N°16-019
FORCELLA* D. and F. HUYBRECHS
“Green Microfinance and Ecosystem Services – A quantitative study on outcomes and effectiveness“
WP-CEB: N°16-018
D’ESPALLIER* B., M. HUDON*, and A. SZAFARZ*
“Aid Volatility and Social Performance in Microfinance“
WP-CEB: N°16-015
AFONSO J., S. MORVANT-ROUX*, D. FORCELLA*, and I. GUÉRIN*
WP-CEB: N°16-014
LAURETI* C. and A. SZAFARZ*
“The Price of Deposit Liquidity: Banks versus Microfinance Institutions“
WP-CEB: N°16-013
FORCELLA* D., R. MOSER, and L.E. GONZALES FARIAS
WP-CEB: N°16-011
MOSER R., D. FORCELLA*, and L.E. GONZALES FARIAS
WP-CEB: N°16-010
FORCELLA* D. and G. LUCHESCHI
WP-CEB: N°16-008
COZARENCO* A., M. HUDON*, and A. SZAFARZ*
“What Type of Microfinance Institutions Supply Savings Products?“
WP-CEB: N°16-007
REICHERT* P.
“A meta-analysis examining the nature of trade-offs in microfinance“
WP-CEB: N°16-005
PÉRILLEUX* A., A. VANROOSE*, and B. D’ESPALLIER*
WP-CEB: N°16-002
2015
SEKKAT K., A. SZAFARZ*, and I. TOJEROW
“Women at the Top in Developing Countries: Evidence from Firm-Level Data“
WP-CEB: N°15-048
CORNÉE* S., P. KALMI, and A. SZAFARZ*
“Selectivity and Transparency in Social Banking: Evidence from Europe“
WP-CEB: N°15-047
CORNÉE* S.
WP-CEB: N°15-044
CORNÉE* S. and G. THENET
WP-CEB: N°15-040
POSTELNICU* L. and N. HERMES*
“Microfinance Performance and Informal Institutions: A Cross-country Analysis“
WP-CEB: N°15-032
BOURLÈS R., A. COZARENCO*, D. HENRIET, and X. JOUTARD
“Business Training Allocation and Credit Scoring: Theory and Evidence from Microcredit in France“
WP-CEB: N°15-030
COZARENCO* A.
“Microfinance Institutions and Banks in Europe: The story to date“
WP-CEB: N°15-027
WULLEMAN M. and M. HUDON*
“Models of social entrepreneurship: empirical evidence from Mexico“
WP-CEB: N°15-024
POSTELNICU* L., N. HERMES*, and R. SERVIN JUAREZ
“Social Capital and the Repayment of Microfinance Group Lending. A Case Study of Pro Mujer Mexico“
WP-CEB: N°15-023
PÉRILLEUX* A. and A. SZAFARZ*
“Women Leaders and Social Performance: Evidence from Financial Cooperatives in Senegal“
WP-CEB: N°15-022
LAURETI* C.
“The Debt Puzzle in Dhaka’s Slums: Do Poor People Co-hold for Liquidity Needs?“
WP-CEB: N°15-021
LABIE* M., C. LAURETI*, and A. SZAFARZ*
“Discipline and Flexibility: A Behavioral Perspective on Product Design in Microfinance“
WP-CEB: N°15-020
CIESLIK* K., M. HUDON*, and P. VERWIMP
“Unruly Entrepreneurs – Value Creation and Value Capture by Microfinance Clients in Rural Burundi“
WP-CEB: N°15-013
MICHEL A. and M. HUDON*
“Community Currencies and Sustainable Development: A Systematic Review“
WP-CEB: N°15-012
BÉDÉCARRATS F., I. GUÉRIN*, and F. ROUBAUD
“The gold standard for randomised evaluations: from discussion of method to political economics“
WP-CEB: N°15-009
COZARENCO* A. and A. SZAFARZ*
“Gender Biases in Bank Lending: Lessons from Microcredit in France“
WP-CEB: N°15-006
2014
VANROOSE* A.
“Factors that explain the regional expansion of microfinance institutions in Peru“
WP-CEB: N°14-030
LAURETI* C. and A. SZAFARZ*
“The Liquidity Premium: Commercial Banks versus Microfinance Institutions“
WP-CEB: N°14-029
BRIÈRE M. and A. SZAFARZ*
“Does Commercial Microfinance Belong to the Financial Sector? Lessons from the Stock Market“
WP-CEB: N°14-024
FORCELLA* D. and M. HUDON*
“Green Microfinance in Europe“
WP-CEB: N°14-020
PERILLEUX* A. and A. SZAFARZ*
“Women Leaders and Social Performance: Evidence from Financial Cooperatives in Senegal“
WP-CEB: N°14-016
COZARENCO* A. and A. SZAFARZ*
“Microcredit in Developed Countries: Unexpected Consequences of Loan Ceilings“
WP-CEB: N°14-015
LAURETI* C. and A. SZAFARZ*
WP-CEB: N°14-011
LEBOVICS M., N. HERMES*, and M. HUDON*
WP-CEB: N°14-009
CORSI* M. and G. ZACCHIA
“Women Economists in Italy: A Bibliometric Analysis of their Scientific Production in the Past Decade“
WP-CEB: N°14-008
GARIKIPATI* S., I. AGIER*, I. GUÉRIN*, and A. SZAFARZ*
“The Cost of Empowerment: Multiple Sources of Women’s Debt in Rural India“
WP-CEB: N°14-007
CORNÉE* S.
“Soft Information and Default Prediction in Cooperative and Social Banks“
WP-CEB: N°14-005
2013
DUMONT G. and M. SCHMIT*
“Tier 1 MFIs Financial Performance: Cash-Flow Statement Analysis“
WP-CEB: N°13-054
POSTELNICU* L., N. HERMES* and A. SZAFARZ*
“Defining Social Collateral in Microfinance Group Lending“
WP-CEB: N°13-050
HUDON* M., and C.MEYER*
“Microfinance and Common Goods: A Study of Brazilian Community Development Banks”
WP-CEB: N°13-049
ASHTA* A.
“Business Cooperatives as a Social Response to Unemployment”
WP-CEB: N°13-048
ASHTA* A.
“An Introduction to Slow Money and its Gandhian Roots”
WP-CEB: N°13-047
ASHTA* A.
“Microfinance and Microentrepreneurship: Case Studies in Social Innovation”
WP-CEB: N°13-046
CORSI* M., M. DE ANGELIS and P. MONTALBANO
“The Gender Impact of Microfinance: The Case of Wekembe in Uganda“
WP-CEB: N°13-045
LABIE* M., C. LAURETI* and A.SZAFARZ*
“Flexible Products in Microfinance: Overcoming the Demand-Supply Mismatch“
WP-CEB: N°13-044
HOSEA MUNISI G. and R. MERSLAND*
“Ownership, board compensation and company performance in sub-Saharan African countries“
WP-CEB: N°13-041
COZARENCO* A. and A. SZAFARZ*
WP-CEB: N°13-037
HUDON* M. and A. PERILLEUX*
“What Explains Microfinance Distribution Surplus? A Stakeholder-oriented Approach”
CERMi-WP
DEHEM T. and M. HUDON*
CERMi-WP
HUDON* M. and A. ASHTA*
CERMi-WP
PERILLEUX* A., E. BLOY and M. HUDON*
CERMi-WP
GUÉRIN* I., B. D’ESPALLIER* and G. VENKATASUBRAMANIAN
“Why Does Microfinance Fail in Rural South-India? The Social Regulation of Self-Employment“
WP-CEB: N°13-034
CORSI* M. and C. D’IPPOLITI
“Class and Gender in Europe, Before and During the Economic Crisis“
WP-CEB: N°13-027
CORNÉE* S. and D. MASCLET
WP-CEB: N°13-026
SEPAHVAND M., R. Shahbazian and R. Bali Swain*
“Time Investment by Parents in Cognitive and Non-cognitive Childcare Activities“
WP: 2013:10 (Uppsala University)
BOURLÈS R. and A. COZARENCO*
WP-CEB: N°13-019
KLOPFERT F., O. MORTEHAN, H. JOACHAIN* and C. LHOIR
“Smart City Block: A New Level of Intervention for City Renovation and Reducing Energy Consumption“
WP-CEB: N°13-017
SERRANO-CINCA C., B. GUTIÉRREZ-NIETO* and N. M. REYES
“A Social Approach to Microfinance Credit Scoring”
WP-CEB: N°13-013
D’ESPALLIER* B., M. HUDON* and A. SZAFARZ*
“Unsubsidized Microfinance Institutions“
WP-CEB: N°13-012
DAVID G., K. OOSTERLINCK and A. SZAFARZ*
WP-CEB: N°13-011
JOACHAIN* H. and F. KLOPFERT
WP-CEB: N°13-008
ALLET* M. and M. HUDON*
WP-CEB: N°13-005
CORSI* M. and M. SAMEK LODOVICI
“Active Ageing and Gender Equality“
WP-CEB: N°13-004
SERRANO-CINCA C., B. GUTIÉRREZ-NIETO*, B. CUÉLLAR FERNÁNDEZ and Y. FUERTES-CALLÉN
“Poverty Penalty and Microfinance“
WP-CEB: N°13-29
BERNAL DIAZ O., A. HERINCKX and A. SZAFARZ*
“Which Short-Selling Regulation is the Least Damaging to Market Efficiency? Evidence from Europe“
WP-CEB: N°13-001
BRIÈRE M., K. OOSTERLINCK and A. SZAFARZ*
“Virtual Currency, Tangible Return: Portfolio Diversification with Bitcoins“
WP-CEB: N°13-31
2012
LAURETI* C. and A. SZAFARZ*
“The Time-Inconsistency Factor: How Banks Adapt to their Mix of Savers“
WP-CEB: N°12-35
BEISLAND L.A., R. MERSLAND*, and R.O. STRØM
” Audit Quality and Corporate Governance: Evidence from the Microfinance Industry“
WP-CEB: N°12-034
POSTELNICU* L.
“Social Capital and Repayment Performance of Group Lending in Microfinance“
WP-CEB: N°12-032
CUÉLLAR FERNÁNDEZ B., Y. FUERTES-CALLÉN, C. SERRANO-CINCA, and B. GUTIÉRREZ-NIETO*
“Determinants of Margin in Microfinance Institutions“
WP-CEB: N°12-030
CORNÉE* S. and A. SZAFARZ*
“Vive la Différence: Social Banks and Reciprocity in the Credit Market“
WP-CEB: N°12-029
BOTTI F., M. CORSI*, and C. D’IPPOLITI
“The Gendered Nature of Multidimensional Poverty in the European Union”
WP-CEB: N°12-026
http://ideas.repec.org/p/sol/wpaper/2013-128772.html
DE CORTE J.-M., M. LABIE*, L. URGEGHE*, and J.-C. VANSNICK
“Microfinance Investment Vehicles and Social Performance: Moving forward with the MACBETH Approach”
WP-CEB: N°12-025
http://ideas.repec.org/p/sol/wpaper/2013-128723.html
ALLET* M.
“Mitigating environmental risks in small-scale activities: what role for microfinance? A case study from El Salvador “
WP-CEB: N°12-021
http://ideas.repec.org/p/sol/wpaper/2013-123289.html
SCHICKS* J.
“Over-Indebtedness in Microfinance – An Empirical Analysis of Related Factors on the Borrower Level”
WP-CEB: N°12-017
http://ideas.repec.org/p/sol/wpaper/2013-116700.html
ALLET* M.
“Why Do Microfinance Institutions Go Green?”
WP-CEB: N°12-015
http://ideas.repec.org/p/sol/wpaper/2013-115102.html
SCHICKS* J.
“The sacrifices of microborrowers in Ghana – A customer-protection perspective on measuring over-indebtedness”
WP-CEB: N°12-008
http://ideas.repec.org/p/sol/wpaper/2013-112507.html
SERRANO-CINCA C. AND B. GUTIERREZ-NIETO*
“Microfinance, the long tail and mission drift”
WP-CEB: N°12-001
http://ideas.repec.org/p/sol/wpaper/2013-107018.html
2011
HUDON* M. and A. PÉRILLEUX*
“Performance Management of Double Bottom Line Institutions: Evidence from Banco Compatamo’s Productivity Distribution”
WP-CEB: N°11-056
http://ideas.repec.org/p/sol/wpaper/2013-104631.html
MERSLAND* R. and L. URGEGHE*
“Performance and International Investments in Microfinance Institutions”
WP-CEB: N°11-054
http://ideas.repec.org/p/sol/wpaper/2013-103401.html
BRIÈRE M. and A. SZAFARZ*
“Investment in Microfinance Equity: Risk, Return, and Diversification Benefits”
WP-CEB: N°11-050
http://ideas.repec.org/p/sol/wpaper/2013-100398.html
SCHICKS* J.
“From a supply gap to a demand gap? The risk and consequences of over-indebting the underbanked”
WP-CEB: N°11-046
http://ideas.repec.org/p/sol/wpaper/2013-99192.html
ALLET* M.
“Measuring the Environmental Performance of Microfinance”
WP-CEB: N°11-045
http://ideas.repec.org/p/sol/wpaper/2013-98806.html
HAMP M. and C. LAURETI*
“Balancing Flexibility and Discipline in Microfinance: Innovative Financial Products that Benefit Clients and Service Providers”
WP-CEB: N°11-044
http://ideas.repec.org/p/sol/wpaper/2013-98728.html
AGIER* I., I. GUÉRIN*, and A. SZAFARZ*
“Child Gender and Parental Borrowing: Evidence from India”
WP-CEB: N°11-038
http://ideas.repec.org/p/sol/wpaper/2013-97214.html
BOTTI F. and M. CORSI*
“Measuring the Social Performance of Microfinance in Europe”
WP-CEB: N°11-037
http://ideas.repec.org/p/sol/wpaper/2013-97213.html
BLOY E., J. ERNULT, M. HUDON, and A. PÉRILLEUX*
“Surplus et responsabilité sociale en microfinance : Etude de cas d’institutions péruviennes”
WP-CEB: N°11-036
http://ideas.repec.org/p/sol/wpaper/2013-97123.html
GARIKIPATI* S.
“Microcredit and Women’s Empowerment: Through the Lens of Time Use Data from Rural India”
WP-CEB: N°11-034
http://ideas.repec.org/p/sol/wpaper/2013-96915.html
SCHICKS* J.
“The Over-indebtedness of Microborrowers in Ghana – An Empirical Study from a Customer Protection Perspective”
CERMi WP – Schicks J. – August 2011
http://www.cermi.eu/documents/CERMi_WP_-_Schicks_J._-_August_2011.pdf
GUTIÉRREZ-NIETO* B., C. SERRANO-CINCA, and J. CAMÓN-CALA
“A Credit Score System for Socially Responsible Lending”
WP-CEB: N°11-028
http://ideas.repec.org/p/sol/wpaper/2013-92109.html
SERRANO-CINCA C. and B. GUTIÉRREZ-NIETO*
“Partial Least Square Discriminant Analysis (PLS-DA) for Bankruptcy Prediction”
WP-CEB: N°11-024
http://ideas.repec.org/p/sol/wpaper/2013-90696.html
HUDON* M. and J. SANDBERG*
“Towards a Theory of Fair Interest Rates on Microcredit”
WP-CEB: N°11-019
http://ideas.repec.org/p/sol/wpaper/2013-88905.html
SUKADI MATA* R.
“Do Migrants’ Deposits Reduce Microfinance Institutions’ Liquidity Risk?”
WP-CEB: N°11-017
http://ideas.repec.org/p/sol/wpaper/2013-87913.html
AGIER* I. and A. SZAFARZ*
“Subjectivity in Credit Allocation to Micro-Entrepreneurs: Evidence from Brazil”
WP-CEB: N°11-016
http://ideas.repec.org/p/sol/wpaper/2013-86108.html
ARMENDARIZ* B., B. D’ESPALLIER*, M. HUDON*, and A. SZAFARZ*
“Subsidy Uncertainty and Microfinance Mission Drift”
WP-CEB: N°11-014
http://ideas.repec.org/p/sol/wpaper/2013-83742.html
ROSSEL-CAMBIER* K.
“Is Combined Microfinance an Instrument to enhance Sustainable Pro-Poor Public Policy Outcomes?”
WP-CEB: N°11-013
http://ideas.repec.org/p/sol/wpaper/2013-81986.html
AGIER* I., I. GUÉRIN*, and A. SZAFARZ*
“Child Gender and Parental Borrowing: Evidence from India”
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1792872
BRIERE M. and A. SZAFARZ*
“Investment in Microfinance Equity: Risk, Return, and Diversification Benefits”
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1776451
BRIERE M., B. DRUT, V. MIGNON, K. OOSTERLINCK, and A. SZAFARZ*
“Assessing Portfolio Efficiency Tests: Theory, Simulations, and Applications”
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1780514
BEISLAND L.A. and R. MERSLAND*
“Do microfinance rating assessments make sense? An analysis of the drivers of the MFI ratings”
WP-CEB: N°11-009
http://ideas.repec.org/p/sol/wpaper/2013-78918.html
ROSSEL-CAMBIER* K.
“Understanding the Dynamics of Product Diversification on Microfinance Performance Outcomes: A Case Study in Barbados”
WP-CEB: N°11-008
http://ideas.repec.org/p/sol/wpaper/2013-78912.html
SERRANO-CINCA C., Y. FUERTES-CALLÉN, B. GUTIÉRREZ-NIETO*, and B. CUÉLLAR-FERNÁNDEZ
“Path modeling to bankruptcy: causes and symptoms of the banking crisis”
WP-CEB: N°11-007
http://ideas.repec.org/p/sol/wpaper/2013-78756.html
DE SCHEEMAEKERE X. and A. SZAFARZ*
“The Inference Fallacy From Bernoulli to Kolmogorov”
WP-CEB: N°11-006
http://ideas.repec.org/p/sol/wpaper/2013-77259.html
AGIER* I. and A. SZAFARZ*
“Credit to Women Entrepreneurs: The Curse of the Trustworthier Sex”
WP-CEB: N°11-005
http://ideas.repec.org/p/sol/wpaper/2013-76871.html
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1718574
2010
AGIER* I. and A. SZAFARZ*
“Credit Officers and Loan Granting in Microfinance: Brazilian Evidence”
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1729234
ARMENDÁRIZ* B., B. D’ESPALLIER*, M. HUDON*, and A. SZAFARZ*
“Subsidy Uncertainty and Microfinance Mission Drift”
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1731265
AGIER* I. and A. SZAFARZ*
“Microfinance and Gender: Is There a Glass Ceiling in Loan Size?”
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1573872
ROSSEL-CAMBIER* K.
“Do Multiple Financial Services Enhance the Poverty Outreach of Microfinance Institutions?”
WP-CEB: N°10-058
http://ideas.repec.org/p/sol/wpaper/2013-70368.html
ROSSEL-CAMBIER* K.
“Can combining credit with insurance or savings enhance the sustainability of microfinance institutions?”
WP-CEB: N°10-057
http://ideas.repec.org/p/sol/wpaper/2013-70367.html
GUÉRIN* I., S. KUMAR, and I. AGIER*
“Microfinance and Women’s Empowerment: Do Relationships Between Women Matter? Lessons from rural Southern India”
WP-CEB: N°10-053
http://ideas.repec.org/p/sol/wpaper/2013-68292.html
SZAFARZ* A.
“Financial Crises in Efficient Markets: How Fundamentalists Fuel Volatility”
WP-CEB: N°10-052
http://ideas.repec.org/p/sol/wpaper/2013-67769.html
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1689723
SERRANO-CINCA C. and B. GUTIÉRREZ-NIETO*
“A decision support system for financial and social investment”
WP-CEB: N°10-049
http://ideas.repec.org/p/sol/wpaper/2013-65702.html
SCHICKS* J.
“Microfinance Over-Indebtedness: Understanding its drivers and challenging the common myths”
WP-CEB: N°10-048
http://ideas.repec.org/p/sol/wpaper/2013-64675.html
AGIER* I. and A. SZAFARZ*
“Microfinance and Gender: Is There a Glass Ceiling in Loan Size?”
WP-CEB: N°10-047
http://ideas.repec.org/p/sol/wpaper/2013-64289.html
PÉRILLEUX* A. and M. HUDON*
“What Explains Microfinance Distribution Surplus? A Stakeholder-oriented Approach”
WP-CEB: N°10-045
http://ideas.repec.org/p/sol/wpaper/2013-63716.html
SUKADI MATA* R.
“Diversification of Microfinance Institutions: Determinants for Entering the Remittances Market”
WP-CEB: N°10-043
http://ideas.repec.org/p/sol/wpaper/2013-62370.html
TCHAKOUTE TCHUIGOUA* H.
“Microfinance Institutions Performance. What Matters about the Interaction of Location and Legal Status?”
WP-CEB: N°10-038
http://ideas.repec.org/p/sol/wpaper/2013-61015.html
PÉRILLEUX* A., E. BLOY, and M. HUDON*
“Productivity Surplus Distribution in Microfinance: Does Ownership Matter?”
WP-CEB: N°10-036
http://ideas.repec.org/p/sol/wpaper/2013-60442.html
GARIKIPATI* S.
“Microcredit and Women’s Empowerment: Have We Been Looking at the Wrong Indicators?”
WP-CEB: N°10-030
http://ideas.repec.org/p/sol/wpaper/2013-57623.html
AUGSBURG* B.
” Using Expectation Data to Model Expected Income and Expenditures in Rural India”
WP-CEB: N°10-029
http://ideas.repec.org/p/sol/wpaper/2013-57622.html
COPESTAKE* J.
“Microfinance and development finance in India: research implications”
WP-CEB: N°10-028
http://ideas.repec.org/p/sol/wpaper/2013-57621.html
SCHMIT* M. and LIN-SYA CHAO
“Managing Growth Risk: Lessons from the Current Crisis”
WP-CEB: N°10-027
http://ideas.repec.org/p/sol/wpaper/2013-57619.html
TCHAKOUTE TCHUIGOUA* H.
“L’influence des mécanismes de gouvernance sur la performance des institutions de microfinance d’Afrique Sub-saharienne”
WP-CEB: N°10-026
http://ideas.repec.org/p/sol/wpaper/2013-57619.html
ROSSEL CAMBIER* K. and L. ROMAGNOLI
“Status of Social Investment in Children in the Eastern Caribbean – An Overview”
WP-CEB: N°10-022
BOTTI F. and M. CORSI*
“A Social Performance Analysis of Italian Microfinance”
WP-CEB: N°10-020
http://ideas.repec.org/p/sol/wpaper/10-020.html
DORFLEITNER* G. and C. PRIBERNY
“Perspectives and a Quantitative Model for Structured Microfinance”
WP-CEB: N°10-015
http://ideas.repec.org/p/sol/wpaper/10-015.html
DORFLEITNER* G., M. LEIDL, and J. REEDER
“Theory of Social Returns in Portfolio Choice with Application to Microfinance”
WP-CEB: N°10-014
http://ideas.repec.org/p/sol/wpaper/10-014.html
GHEERAERT L., R. SUKADI*, and D. TRAÇA
“Remittances and Domestic Investment in Developing Countries: An Analysis of the Role of Financial Sector Development”
WP-CEB: N°10-013
http://ideas.repec.org/p/sol/wpaper/10-013.html
NAWAZ A.
“Issues in Subsidies and Sustainability of Microfinance: An Empirical Investigation”
WP-CEB: N°10-010
http://ideas.repec.org/p/sol/wpaper/10-010.html
NAWAZ A.
“Efficiency and Productivity of Microfinance: Incorporating the Role of Subsidies”
WP-CEB: N°10-009
http://ideas.repec.org/p/sol/wpaper/10-009.html
NAWAZ A.
“Performance of Microfinance: The Role of Subsidies”
WP-CEB: N°10-008
http://ideas.repec.org/p/sol/wpaper/10-008.html
LABIE* M., P.-G. MÉON, R. MERSLAND*, and A. SZAFARZ*
“Discrimination by Microcredit Officers: Theory and Evidence on Disability in Uganda” WP-CEB: N°10-007
http://ideas.repec.org/p/sol/wpaper/10-007.html
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1722122
PÉRILLEUX* A.
“Maturity Mismatch and Governance of Microfinance Cooperatives: Lessons from History”
WP-CEB: N°10-005
http://ideas.repec.org/p/sol/wpaper/10-005.html
2009
ASHTA* A. and D. ASSADI
“An Analysis of European Online micro-lending Websites”
WP-CEB: N°09-059
http://ideas.repec.org/p/sol/wpaper/09-059.html
ASHTA* A. and S. RAIMBAULT
“Business Perceptions of the new French regime on Auto-Entrepreneurship: a risk-taking step back from socialism”
WP-CEB: N°09-058
http://ideas.repec.org/p/sol/wpaper/09-058.html
ALLAIRE V., A. ASHTA*, L. ATTUEL-MENDES, and K. KRISHNASWAMY
“Institutional Analysis to explain the Success of Moroccan Microfinance Institutions”
WP-CEB: N°09-057
http://ideas.repec.org/p/sol/wpaper/09-057.html
ASHTA* A. and D. ASSADI
“Does Social Lending incorporate Social Technologies? The use of Web 2.0 Technologies in online P2P lending”
WP-CEB: N°09-056
http://ideas.repec.org/p/sol/wpaper/09-056.html
MARREZ H. and M. SCHMIT*
“Credit risk analysis in microcredit: How does gender matter?”
WP-CEB: N°09-053
http://ideas.repec.org/p/sol/wpaper/09-053.html
SZAFARZ* A.
“How Did Financial-Crisis-Based Criticisms of Market Efficiency Get It So Wrong?”
WP-CEB: N°09-048
http://ideas.repec.org/p/sol/wpaper/09-048.html
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1510444
ARMENDARIZ* B.
“Microfinance for Self-Employment Activities in the European Urban Areas: Contrasting Crédal in Belgium and Adie in France”
WP-CEB: N°09-041
http://ideas.repec.org/p/sol/wpaper/09-041.html
VANROOSE* A. and B. D’ESPALLIER*
“Microfinance and Financial Sector Development”
WP-CEB: N°09-040
http://ideas.repec.org/p/sol/wpaper/09-040.html
ASHTA* A. and M. HUDON*
“To whom should we be fair? Ethical issues in Balancing Stakeholder Interests from Banco Compartamos Case Study”
WP-CEB: N°09-036
http://ideas.repec.org/p/sol/wpaper/09-036.html
SUKADI MATA* R.
“Microfinance Institutions (MFIs) on the Remittances Market: Money Transfer Activity and Savings Mobilisation”
WP-CEB: N°09-022
http://ideas.repec.org/p/sol/wpaper/09-022.html
LABIE* M., P-G. MÉON, and A. SZAFARZ*
“Discrimination in Microfinance: The Role of Credit Officers”
WP-CEB: N°09-017
http://ideas.repec.org/p/sol/wpaper/09-017.html
ARMENDARIZ* B. and A. SZAFARZ*
“On Mission Drift In Microfinance Institutions”
WP-CEB: N°09-015
http://ideas.repec.org/p/sol/wpaper/09-015.html
SEKKAT K. and A. SZAFARZ*
“Valuing Homeownership”
WP-CEB: N°09-006
http://ideas.repec.org/p/sol/wpaper/09-006.html
2008
PARKS W. and K. ROSSEL-CAMBIER*
“Small Island Developing States (SIDS) Fit for Children Network – A Concept Note”
WP-CEB: N°08-043
http://ideas.repec.org/p/sol/wpaper/08-043.html
VANROOSE* A.
“What macro factors make microfinance institutions reach out?”
WP-CEB: N°08-036
http://ideas.repec.org/p/sol/wpaper/08-036.html
VERMORKEN M., A. SZAFARZ*, and H. PIROTTE
“Sector Classification through non-Gaussian Similarity”
WP-CEB: N°08-032
http://ideas.repec.org/p/sol/wpaper/08-032.html
DE SCHEEMAEKERE X. and A. SZAFARZ*
“Inverting Bernoulli’s Theorem: The Original Sin”
WP-CEB: N°08-029
http://ideas.repec.org/p/sol/wpaper/08-029.html
PÉRILLEUX* A.
“Les coopératives d’épargne et de crédit en microfinance face aux problématiques de gouvernance et de croissance”
WP-CEB: N°08-025
http://ideas.repec.org/p/sol/wpaper/08-025.html
NIYONGABO* E.
“Défis du financement agricole et rural, rôle pour la microfinance et implications pour les politiques publiques en Afrique subsaharienne. Pistes de recherche basées sur le cas du Burundi”
WP-CEB: N°08-024
http://ideas.repec.org/p/sol/wpaper/08-024.html
MÉON P-G. and A. SZAFARZ*
“Labour market discrimination as an agency cost”
WP-CEB: N°08-019
http://ideas.repec.org/p/sol/wpaper/08-019.html
BRIÈRE M., A. CHAPELLE, and A. SZAFARZ*
“No contagion, only globalization and flight to quality”
WP-CEB: N°08-018
DE SCHEEMAEKERE X. and A. SZAFARZ*
“The Special Status of Mathematical Probability: A Historical Sketch”
WP-CEB: N°08-017
http://ideas.repec.org/p/sol/wpaper/08-017.html
BERNAL O., K. OOSTERLINCK, and A. SZAFARZ*
“Observing bailout expectations during a total eclipse of the sun”
WP-CEB: N°08-015
http://ideas.repec.org/p/sol/wpaper/08-017.html
HUDON* M.
“Norms and Values of the Various Microfinance Institutions”
WP-CEB: N°08-006
http://ideas.repec.org/p/sol/wpaper/08-006.html
ROSSEL-CAMBIER* K.
“Combined Micro-Finance: Selected Research Questions from a Stakeholder Point of View”
WP-CEB: N°08-004
http://ideas.repec.org/p/sol/wpaper/08-004.html
LABIE* M. and A. PÉRILLEUX*
“Corporate Governance in Microfinance: Credit Unions”
WP-CEB: N°08-003
http://ideas.repec.org/p/sol/wpaper/08-003.html
ARMENDARIZ* B. and N. ROOME
“Empowering women via microfinance in fragile states”
WP-CEB: N°08-001
http://ideas.repec.org/p/sol/wpaper/08-001.html
2007
CHAPELLE A. and A. SZAFARZ*
“Control Consolidation With a Threshold:An Algorithm “
Working Paper Series – SSRN
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=906456
ROSSEL-CAMBIER* K., T. OLSEN, and N. POURZAND
“Investing in knowledge for evidence-based social policies for children: two case studies of knowledge dissemination initiatives in the Eastern Caribbean”
WP-CEB: N°07-040
http://ideas.repec.org/p/sol/wpaper/07-040.html
BRIÈRE M. and A. SZAFARZ*
“Crisis Robust Bond Portfolios”
WP-CEB: N°07-030
http://ideas.repec.org/p/sol/wpaper/07-030.html
SZAFARZ* A.
“Hiring People-like-Yourself: A Representation of Discrimination on the Job Market”
WP-CEB: N°07-021
http://ideas.repec.org/p/sol/wpaper/07-021.html
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1028949
HUDON* M.
“Use of Donor Funds in the Financing of MFIs”
WP-CEB: N°07-020
http://ideas.repec.org/p/sol/wpaper/07-020.html
VANROOSE* A.
“Microfinance: are its promises ethically justified?”
WP-CEB: N°07-014
http://ideas.repec.org/p/sol/wpaper/07-014.html
HUDON* M.
“Should Access to Credit be a Right?”
WP-CEB: N°07-008
http://ideas.repec.org/p/sol/wpaper/07-008.html
FARBER A., R. GILLET, and A. SZAFARZ*
“A general formula for the WACC: A reply”
WP-CEB: N°07-004
http://ideas.repec.org/p/sol/wpaper/07-004.html
HUDON* M.
“Social Justice with Credits to the Poor”
WP-CEB: N°07-003
http://ideas.repec.org/p/sol/wpaper/07-003.html
HUDON* M. and H.D. SEIBEL
“Use of microfinance in post-conflict and post-disaster situations: Turning victims into shareholders”
WP-CEB: N°07-002
http://ideas.repec.org/p/sol/wpaper/07-002.html