Delegated monitoring in crowdfunded microfinance: Evidence from Kiva


Berns, John P. ; Shahriar, Abu Zafar M. ; Unda, Luisa A.



DOI: https://doi.org/10.1016/j.jcorpfin.2020.101864
URL: https://www.sciencedirect.com/science/article/abs/...
Additional URL: https://www.econbiz.de/Record/delegated-monitoring...
Document Type: Article
Year of publication Online: 2021
The title of a journal, publication series: Journal of Corporate Finance
Volume: 66
Issue number: Article 101864
Place of publication: Amsterdam [u.a.]
Publishing house: Elsevier
ISSN: 0929-1199
Publication language: English
Institution: Business School > ABWL u. Corporate Governance (Niessen-Ruenzi 2012-)
Subject: 330 Economics
Abstract: We study the role of delegated monitoring in crowdfunded microfinance. We use data from Kiva, a crowdfunding platform, where crowds lend to borrowers through microfinance institutions (MFIs) instead of lending directly. These MFIs monitor debt contracts on behalf of crowds. We find that borrowers who are more intensely monitored by MFIs are more likely to repay crowdfunded loans on time. Monitoring is particularly important in reducing repayment problems of individual loans rather than group-based loans. Monitoring has a stronger impact in less competitive lending markets. We also find that when lending to borrowers, crowds are attentive to the loan-administering MFI's ability to monitor loans.

Dieser Eintrag ist Teil der Universitätsbibliographie.

Diese Publikation ist bisher nur Online erschienen. Diese Publikation nun als "Jetzt in Print erschienen" melden.




Metadata export


Citation


+ Search Authors in

+ Page Views

Hits per month over past year

Detailed information



You have found an error? Please let us know about your desired correction here: E-Mail


Actions (login required)

Show item Show item