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  1. Why Do Microfinance Institutions Go Green? An Exploratory Study.Marion Allet - 2014 - Journal of Business Ethics 122 (3):405-424.
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  2. Green Microfinance: Characteristics of Microfinance Institutions Involved in Environmental Management.Marion Allet & Marek Hudon - 2015 - Journal of Business Ethics 126 (3):395-414.
    In recent years, development practice has seen that microfinance institutions are starting to consider their environmental bottom line in addition to their financial and social objectives. Yet, little is known about the characteristics of institutions involved in environmental management. This paper empirically identifies the characteristics of these MFIs for the first time using a sample of 160 microfinance institutions worldwide. Basing our analysis on various econometric tests, we find that larger MFIs and MFIs registered as banks tend to perform better (...)
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  3. The Economics of Microfinance.Beatriz Armendáriz & Jonathan Morduch - 2010 - MIT Press.
    An accessible analysis of the global expansion of financial markets in poor communities, incorporating the latest thinking and evidence.
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  4. Institutionalizing Ethics in Institutional Voids: Building Positive Ethical Strength to Serve Women Microfinance Borrowers in Negative Contexts.Subrata Chakrabarty & A. Erin Bass - 2013 - Journal of Business Ethics 119 (4):1-14.
    This study examines whether microfinance institutions (MFIs) that serve women borrowers at the base of the economic pyramid are likely to adopt a written code of positive organizational ethics (POE). Using econometric analysis of operational and economic data of a sample of MFIs from across the world, we find that two contextual factors—poverty level and lack of women’s empowerment—moderate the influence of an MFI’s percentage of women borrowers on the probability of the MFI having a POE code. MFIs that serve (...)
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  5. Comparing Virtue, Consequentialist, and Deontological Ethics-Based Corporate Social Responsibility: Mitigating Microfinance Risk in Institutional Voids.Subrata Chakrabarty & A. Erin Bass - 2015 - Journal of Business Ethics 126 (3):487-512.
    Due to the nature of lending practices and support services offered to the poor in developing countries, portfolio risk is a growing concern for the microfinance industry. Though previous research highlights the importance of risk for microfinance organizations, not much is known about how microfinance organizations can mitigate risks incurred from providing loans to the poor in developing countries. Further, though many microfinance organizations practice corporate social responsibility to help create economic and social wealth in developing countries, the impact of (...)
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  6. Putting Responsible Finance to Work for Citi Microfinance.Tzu-Kuan Chiu - 2013 - Journal of Business Ethics (2):1-16.
    This paper develops an ethical framework for responsible finance and then applies it to Citigroup (Citi), a major financial actor in the microfinance sector, to see whether it meets with such obligations. The framework consists of two categories of responsibility. The first category is the special social responsibility of financial institutions; and the second is the fundamental principles of ethical behavior in financial services. From Citigroup’s microfinance model, scope of business, and multiple roles in the market, the company seems to (...)
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  7. Microfinance, USAID, and the UN: Who Microfinance Helps, the Services It Provides and the Institutions That Promote It.Robert Edgar & Bruce Lusignan - forthcoming - Ethics.
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  8. Ethics in International Value Chain Networks: The Case of Telenor in Bangladesh. [REVIEW]Andreas W. Falkenberg & Joyce Falkenberg - 2009 - Journal of Business Ethics 90 (3):355 - 369.
    What is the responsibility of multinational enterprises in international value chain networks in countries with inadequate institutions? In this article, we present an ethical framework that allows for evaluation of institutions at the macro, mezzo, and micro levels. This framework is used to analyze the case of Telenor in Bangladesh. Telenor is a telecommunications company based in Norway. It is the majority owner (62%) in Grameenphone in Bangladesh. The minority owner is Grameen Telecom, which is part of the Grameen group (...)
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  9. Should Access to Credit Be a Right?Marek Hudon - 2008 - Journal of Business Ethics 84 (1):17-28.
    Discussion on financial ethics increasingly includes the problem of exclusion of the poorer segments of society from the financial system and access to credit. This paper explores the ethical dimensions surrounding the concept of a human right to credit. If access to credit is directly instrumental to economic development, poverty reduction and the improved welfare of all citizens, then one can proclaim, as Nobel Prize Laureate M. Yunus has done, that it is a moral necessity to establish credit as a (...)
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  10. Fairness and Microcredit Interest Rates: From Rawlsian Principles of Justice to the Distribution of the Bargaining Range.Marek Hudon & Arvind Ashta - 2013 - Business Ethics 22 (3):277-291.
    This paper addresses the fairness of microcredit interest rates. Since microfinance institutions provide credit for the poor at relatively high prices, the fairness of their interest rates has been repeatedly debated. We first apply Rawls' principles of justice to the case of microcredit interest rates and suggest some limitations related to the hypothesis of rationality of the borrowers and the level of inequality. We then suggest another framework based on the analysis of the distribution of the benefits generated by the (...)
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  11. The Ethical Crisis in Microfinance.Marek Hudon & Joakim Sandberg - 2013 - Business Ethics Quarterly 23 (4):561-589.
    Microfinance is often assumed to be an ethically progressive industry, but in recent years it has been the target of much ethical criticism. Microfinance institutions have been accused of using exploitative lending techniques and charging usurious interest rates; and critics even question the ability of microfinance to alleviate poverty. This article reviews recent research on the microfinance sector that addresses these ethical issues. We show how this research is relevant to a number of theoretical issues, such as how to define (...)
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  12. The Ethical Crisis in Microfinance: Issues, Findings, and Implications.Marek Hudon & Joakim Sandberg - 2013 - Business Ethics Quarterly 23 (4):561-589.
    Microfinance is often assumed to be an ethically progressive industry, but in recent years it has been the target of much ethical criticism. Microfinance institutions have been accused of using exploitative lending techniques and charging usurious interest rates; and critics even question the ability of microfinance to alleviate poverty. This article reviews recent research on the microfinance sector that addresses these ethical issues. We show how this research is relevant to a number of theoretical issues, such as how to define (...)
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  13. Socially Responsible Investors and the Microentrepreneur: A Canadian Case.Richard Hudson & Roger Wehrell - 2005 - Journal of Business Ethics 60 (3):281-292.
    Socially responsible investors buy financial securities with two goals: to make a market-based return, and to make companies act in a more socially responsible way. Most research on socially responsible investment deals with investing in stocks traded on major exchanges. We add the case of loaning small amounts of funds to microentrepreneurs through a discussion of a particular case. The case is that of Calmeadow which, in conjunction with the Royal Bank of Canada, set up a microlending project in rural (...)
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  14. Microfinance and Social Pressure in India: A Study of SKS.Mathew Joseph - 2012 - International Journal of Management Concepts and Philosophy 6 (3):189.
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  15. The Miracle of Microfinance? A 2016 Ethical Assessment.Eric Palmer - forthcoming - In Robert W. Kolb (ed.), The SAGE Encyclopedia of Business Ethics and Society 2nd Edition. Sage Publications.
    This entry focuses upon the current state of microlending activity, and particularly for-profit activity, with ethical analysis of such lending, particularly as it pertains to prospects for poverty alleviation and development for the global poor. Several specific events have lately altered the characteristics of microlending and the general assessments of its prospects: most notably the collapse of the for-profit microfinance market in Andhra Pradesh late in 2010 and research previously pursued within the same state of India that would greatly reduce (...)
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  16. The Andhra Pradesh Microfinance Crisis and American Payday Lending: Two Studies in Vulnerability.Eric Palmer - 2013 - Révue Ethique Et Economique / Ethics and Economics 10 (2):44-57.
    Microcredit, a non-profit lending approach that is often championed as a source of women’s inclusion and empowerment, has in the past decade been followed by microfinance, a forprofit sibling of a different temperament. Microfinance in India is now in turmoil, precipitated by legislation in the state of Andhra Pradesh, which has encouraged withholding of payment, which in turn has frozen the market. This paper considers one precipitating condition of the crisis: the remarkable, new, and developing burden of formal economic debt (...)
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  17. Credit Accessibility and Corporate Social Responsibility in Financial Institutions: The Case of Microfinance.Francesc Prior & Antonio Argandoña - 2009 - Business Ethics 18 (4):349-363.
    What are financial institutions' social responsibilities in developing countries? On the one hand, these institutions share the generic responsibilities of all human organizations and business enterprises. However, their specific social responsibility is the performance of the social function of financial intermediaries, which, in the case of emerging countries, consists mainly of contributing to economic growth and solving the problem of poverty. This paper describes a number of technical-economic and moral problems that take us to a consideration of the performance of (...)
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  18. Women's Enterprise Development in Eritrea Through Microfinance.Ravinder Rena - 2008 - ICFAI University Journal of Entrepreneurship and Development 5 (3):41-58.
    Women play a key role in economic growth and development, yet they are still discriminated against in economic life. Eritrea has extreme poverty and more than 66 percent of people live below poverty line. Eventually, the number of poor households in the country is high. Many are women-headed households, whose husbands died during the conflicts or who are now serving in the National Service. Women-headed households are particularly vulnerable. The Savings and Micro Credit Program (SMCP) provides major microfinance to women (...)
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  19. The Effect of Islamic Work Ethic on Organisational Justice.Wahibur Rokhman & Arif Hassan - 2012 - African Journal of Business Ethics 6 (1):25.
    The study proposed to investigate the effect of the Islamic work ethic on the perception of justice among employees in Islamic microfinance institutions in Indonesia. The construct of organisational justice included three dimensions, namely distributive, procedural, and interactional justice. The sample consisted of 370 employees from 60 Islamic microfinance institutions in Central Java, Indonesia. The results suggest that the Islamic work ethic positively contributes to the aforementioned three dimensions of the perception of justice. Implications, limitations, and suggestions for future research (...)
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  20. Mega-Interest on Microcredit: Are Lenders Exploiting the Poor?Joakim Sandberg - 2012 - Journal of Applied Philosophy 29 (3):169-185.
    Microcredit is often hailed as an effective way of alleviating poverty. In recent years, however, microfinance institutions have been the target of much criticism due to their comparatively high interest rates (which may be as high as 70–100% per annum). This paper discusses whether it can be morally justified to charge very high rates of interest when lending money to the poor. Arguments are drawn from contemporary as well as historical debates on usury, exploitation, egalitarianism and consequentialism. It is conceded (...)
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  21. Does Microcredit “Empower”? Reflections on the Grameen Bank Debate.Evan Selinger - 2008 - Human Studies 31 (1):27-41.
    Recent debates about the Grameen Bank’s microlending practices depict participating female borrowers as having fundamentally empowering or disempowering experiences. I argue that this discursive framework may be too reductive: it can conceal how technique and technology simultaneously facilitate relations of dependence and independence; and it can diminish our capacity to understand and assess innovative development initiatives.
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  22. Before Microfinance: The Social Value of Microsavings in Vincentian Poverty Reduction. [REVIEW]Marco Tavanti - 2013 - Journal of Business Ethics 112 (4):697-706.
    The purpose of this article is to present and discuss the values and limits of microfinance within the context of poverty reduction, international development, and community empowerment. The main thesis is that microfinance requires a more complex strategy than simply the provision of credits. The development of financial capital depends on the increase in human capacity and social capital. Microfinance is revisited under the ethical lenses of global responsibility for alleviating poverty and developing community sustainability. Through a critical review of (...)
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  23. Microfinance and Amartya Sen's Capability Approach.Chuan Chia Tseng - unknown
    There are two main motivations for undertaking this thesis on Sen’s capability approach and microfinance. One is to evaluate Sen’s capability approach by considering moral philosophy (utilitarianism and John Rawls’ theory of justice) and developmental ethics contexts. The other is to analyse the impact of microfinance on poverty reduction in accordance with Sen’s approach. This thesis argues that Although Sen’s capability approach has drawbacks, both as a general moral theory and as a theory of justice, it does bring up important (...)
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