Third European Research Conference on Microfinance

ORGANISED BY
THIRD EUROPEAN RESEARCH CONFERENCE ON MICROFINANCE
JUNE 10 – 12, 2013
<strong>Conference</strong> Venue
University of Agder
Kristiansand,
Norway

Overview of <strong>Conference</strong> Program
8:30 – 9:00
Monday, June 10
Registration
9:00 – 10:45
Opening session and plenary speakers
10:45 – 11:15
Coffee Break
11:15 – 13:00
Parallel Sessions 1
1.1 Microinsurance Network and the ILO’s
Microinsurance Innovation Facility, Session 1
1.2 Microfinance and Women’s Empowerment
1.3 Entrepreneurship and Microfinance Institutions
1.4 Financial Inclusion and Poverty Alleviation
1.5 The Management of Microfinance Organizations
1.6 Poor People’s access to Finance
1.7 Social Capital and Repayment Rates
13:00 – 14:00
14:00 – 15:45
15:45 – 16:15
Lunch
Parallel Sessions 2
2.1 Microinsurance Network and the ILO’s
Microinsurance Innovation Facility, Session 2
2.2 Interest Rates in Microfinance
2.3 Loan Determination and Loan Diversion
2.4 Impact Evaluation of MFIs
2.5 Issues in Competition and Internationalization
2.6 Financial Literacy
2.7 Social Entrepreneurship and Self-employment
16:15 – 18:00
Coffee Break
Parallel Sessions 3
3.1 Joint ILO and University of Mannheim Session
3.2 Evaluating the Performance and Management
of MFIs
3.3 Innovations in the Provision of
Microfinance Services
3.4 Impact of Microfinance at the Macro Level
3.5 Gender, Perceptions and Microfinance
3.6 Microinsurance for Household Risk Coping
3.7 Investments and Issues in Microfinance
Dinner at UiA Cafeteria
Room
B2 003
B2 001
B2 002
B2 004
B2 006
B3 001
B3 008
B2 003
B2 001
B2 002
B2 004
B2 006
B3 001
B3 008
B2 003
B2 001
B2 002
B2 004
B2 006
B3 008
B3 001
Tuesday, June 11
Registration
Plenary Speakers
Coffee Break
Parallel Sessions 4
4.1 Multiple Borrowing and Over-indebtedness
4.2 Governance of Microfinance Institutions
4.3 <strong>European</strong> Microfinance Network Session
4.4 Behavioral Economics and Lending
Methodologies
4.5 Operational Efficiency of Microfinance
Institutions
4.6 Impact of Microcredit on Poverty Alleviation
4.7 Microfinance Clients
Lunch
Parallel Sessions 5
5.1 Relationship between Entrepreneurial
Activity and Microfinance
5.2 Formal vs. Informal Lending
5.3 University Meets Microfinance (UMM)
Student Session
5.4 Loan Size and Repayment Rates
5.5 Risk Management in Microfinance
Institutions
5.6 Impact of Savings Groups and Microsavings
on Household Welfare
Coffee Break
Parallel Sessions 6
6.1 Assessment of Financial Performance of
MFI’s
6.2 Mobile Money and Branchless Banking
6.3 Regulation and Policy Issues in Microfinance
6.4 Microfinance and Development
6.5 Microfinance in a Different Context
6.6 Transformation and Business Models in
Microfinance
Gala Dinner at Christiansholm Fortress
Room
B2 001
B2 002
B2 003
B2 004
B2 006
B3 001
B3 008
B2 001
B2 002
B2 003
B2 004
B2 006
B3 001
B3 008
B2 001
B2 002
B2 004
B3 001
B3 008
B2 006
Wednesday, June 12
Registration
Plenary Speakers
Coffee Break
Parallel Sessions 7
7.1 Women’s Participation in Financial Services
7.2 Group Lending and Peer-to-peer Lending
7.3 Impact of Self-help Groups
7.4 Financial Sustainability of MFIs and
Poverty Outreach
7.5 Social Impact of Microfinance Institutions
7.6 Mission Drift and Efficiency of
Microfinance Institutions
Lunch
End of <strong>Conference</strong>
Room
B2 001
B2 002
B2 004
B2 006
B3 001
B3 008

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
8:30 – 9:00 Registration (Building B, Main Foyer)
9:00 – 10.45 Plenary Session, Auditorium B1 018
Welcome Remarks
> Roy Mersland, <strong>Conference</strong> Chair
> Christoph Pausch, Executive Secretary, <strong>European</strong> Microfinance Platform
Plenary Speakers
> Malcolm Harper (Cranfield School of Management, UK), “Microfinance;
where did I and it go wrong?”
> Mark Rosenzweig (Yale University, USA), “Informal Risk-Sharing,
Weather Insurance and Risk-Taking”
> Susan Johnson (University of Bath, UK), “Competing Visions of Inclusion
in Kenya’s Financial Landscape: The Rift Revealed by Mobile Money Transfer”
> David Roodman (Center for Global Development, USA), “The Virtues and
Limits of RCTs: Lessons from a Comprehensive Investigation into Microfinance”
Chair: Marek Hudon (CERMi, Université Libre de Bruxelles, Belgium)
10:45 – 11:15 Coffee Break (outside Auditorium B1 018)
11:15 – 13:00 Parallel Sessions
Room: B2 003
1.1 Microinsurance Network and the ILO’s Microinsurance Innovation Facility
Session chair: Karljin Morsink (Microinsurance Network <strong>Research</strong> Discussion Group and
University of Oxford)
Session 1. Why low-income households don’t buy insurance and what can we do about it?
Aparna Dalal (ILO’s Microinsurance Innovation Facility, Switzerland), “Why people don’t buy
microinsurance and what can we do about it?”
Jonathan Bauchet (New York University, USA), “Price and Information Type in Life
Microinsurance Demand: Experimental Evidence from Mexico”
Lena Giesbert (Humboldt University of Berlin, Germany) “Gender Differences in Micro Life
Insurance Participation in Ghana”, coauthor Tilman Brück
Session chair: Karljin Morsink (Microinsurance Network <strong>Research</strong> Discussion Group and
University of Oxford)
Room: B2 001
1.2 Microfinance and Women’s Empowerment
Session chair: ATM Jahiruddin
Abel Asemota (Ambrose Alli University, Nigeria), “The Effect of Microfinance on Women
Household Decision Making and Self Confidence”, coauthor E.I. Isiramen

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
ATM Jahiruddin (Khulna University, Bangladesh), “Microcredit Family Violence –
Experiences of Different Groups of Women in Bangladesh” , coauthors Patricia Short, M. Adil
Khan and Tania Afroze
Remy O. Mejeha (Michael Okpara University of Agriculture, Nigeria), “Microfinancing and
Economic Empowerment of Women in Nigeria”, coauthor Adanne Onuoha
Madiha Khan (University of Malakand, Pakistan), “Women Empowerment and Microfinance”
Room: B2 002
1.3 Entrepreneurship and Microfinance Institutions
Session chair: Jacqueline Mgumia
Chandralekha Ghosh (West Bengal State University, India) “Does Microfinance Institution
Really Help Micro Enterprises? A Case Study of Mumbai Slums”, coauthor Samapti Guha
Oliver Zohoré Koudou (Université FHB d’Abidjan-Cocody, Côte d’Ivoire) “How can
Microfinance Institutions Promote Entrepreneurship in Côte d’Ivoire?”
Ruwan Abeysekera (Bournemouth University, UK), “Enhancing Entrepreneurship:
Developing a model using the theory of Co-production to examine the performance of
Business Development Services provided by Micro Finance Institutions”
Jacqueline Mgumia (University of Witwatersrand, South Africa), “Multiple Functions of
Money in the Context of Urban Poverty and Unemployment:
The Case of Aspiring Young Entrepreneurs in Tanzania”
Room: B2 004
1.4 Financial Inclusion and Poverty Alleviation
Session chair: Ana Marr
Ana Marr (University of Greenwich, UK), “Financial Inclusion and Poverty: The case of Peru”,
coauthor Julian Schmied
Øystein Strøm (Oslo and Akershus University College, Norway), “Source of Funding and
Efficiency of Microfinance Institutions”, coauthor Mariya I. Pylypiv
Savita Shankar (Asian Institute of Management, Phillipines), “Application of Alternate
Framework for Assessing Microfinance Programs’ Contribution to Development:
An empirical study in Tamil Nadu, India”
Camille Sutton-Brown (University of Pretoria, South Africa), “Microfinance and Women’s
Empowerment: Voices from Mali”
Room: B2 006
1.5 The Management of Microfinance Organizations
Session chair: Alexander Pinz
Alexander Pinz (University of Mannheim, Germany), “Success Factors of Microfinance
Institutions – State of the Art and <strong>Research</strong> Agenda”, coauthor Bernd Helmig

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
Daudi Pascal (University of Agder, Norway), “The influence of Chief Executive Officer
Characteristics and MFIs performance”, coauthors Roy Merlsand and Neema Mori
Akanga Fidelis K. (University of Essex, UK), “Microfinance Accountability in Cameroon: A
Cure or a Curse for Poverty Alleviation?”, coauthor Jayasinghe Kelum
Wu Wei (University of Birmingham, UK), “FOSS Meets Microfinance – Case Study from
China”, coauthor Li Jun
Room: B3 001
1.6 Poor People’s access to Finance
Session chair: Benjamin Guin
M. Jahangir Alam Chowdhury (University of Dhaka, Bangladesh), “Does an Access to Credit
Help Households in Recovering Natural Disaster Losses: Experience from Bangladesh”
Raulin L. Cadet (Université Quisqueya, Haiti), “Microfinance in Haiti: Do the poorest have
access to credit?”, coauthor Lenève Julien
Benjamin Guin (University of St. Gallen, Switzerland), “Microfinance Banks and Household
Access to Finance”, coauthors Martin Brown and Karolina Kirschenmann
Oliver Schmidt (Mountains of the Moon University, Uganda), “Financial behaviour of
small-scale tea farmers and casual labourers in Western Uganda”
Room: B3 008
1.7 Social Capital and Microfinance
Session chair: Julie-Marthe Lehmann
13:00 – 14:00 Lunch at UiA Cafeteria
14:00 – 15:45 Parallel Sessions
Luminita Postelnicu (CERMi, Université Libre de Bruxelles, Belgium), “Social Capital and
Repayment Performance of Group Lending in Microfinance”, coauthors Niels Hermes and
Ariane Szafarz
Julie-Marthe Lehmann (The Hague University of Applied Sciences, Netherlands), “’Money is
money. Money can talk to you.’ Microfinance: What can be learnt from informal financial
associations in the Netherlands?”, coauthor Peer Smets
Solène Morvant-Roux (Fribourg University, Switzerland) and Fouzi Mourji (Université
Hassan II, Morocco), “Exploring the respective role played by supply and demand
characteristics in repayment defaults: evidence from Morocco and Dominican Republic”,
coauthors Trachsel Virginie and Cristian González
Room: B2 003
2.1 Microinsurance Network and the ILO’s Microinsurance Innovation Facility
Chair: Michal Matul (ILO’s Microinsurance Innovation Facility)
Session 2. Microinsurance and existing risk-management activities (could be preventive
activities, savings, credit, farmer investment)

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
Ralf Radermarcher (Micro Insurance Academy and Microinsurance Network Impact Working
Group), “Introduction to impact studies and microinsurance”
Karlijn Morsink (Microinsurance Network <strong>Research</strong> Discussion Group and University of
Oxford, UK), “Farm investments by Ethiopian smallholder farmers under indemnity and
index insurance”, coauthors Tagel Gebrehiwot Gidey, Peter Geurts and Anne van de Veen
Karla Henning (University of Göttingen, Germany), “Remittances and Weather Insurance:
Evidence from Rainfall shocks in Indonesia”, coauthor Tobias Lechtenfeld
Syed M. Ahsan (Institute of Microfinance, Bangladesh), “Micro Health Insurance in
Bangladesh: Innovations in Design, Delivery and Distribution Channels”, coauthors Syed
Abdul Hamid, Shubhasish Barua, Mohammad Rifat Haider, and Chowdhury Abdullah Al Asif
Room: B2 001
2.2 Interest Rates in Microfinance
Session chair: Carolina Laureti
Christopher Priberny (University of Regensburg, Germany), “What determines microcredit
interest rates?”, coauthors Gregor Dorfleitner, Michaela Leidl and J. von Mosch
Sven Resnjanskij (University of Konstanz, Germany), “Negative Nominal Interest Rates in
Develop ing Countries: The Case of Ghana”
Carolina Laureti (CERMi, University of Mons, Université Libre de Bruxelles, Belgium), “The
Time-Inconsistency Factor: How Banks Adapt to their Mix of Savers”, coauthor Ariane Szafarz
Satish Pillarisetti (National Bank for Agriculture and Rural Development, India), “Does a
market still exist for MFI’s in India?
Room: B2 002
2.3 Loan Determination and Loan Diversion
Session chair: Pasqualina Porreta
Glòria Estapé-Dubreuil (Autonomous University of Barcelona, Spain), “Microguarantees for
microcredits: A modeling for loan amount determination”, coauthors Arvind Ashta and Zaka
Ratsimalahelo
Pasqualina Porretta (University of Rome, Italy), “Guarantee funds in microfinance:
a comparative analysis”, coauthors Paola Leone and Sabrina Leo
Malabika Roy (Jadavpur University, India),”Loan Diversion: An empirical analysis”,
coauthors Tanmoyee Banerjee, Chandralekha Ghosh and Ajitava Raychaudhuri
MFIs
Room: B2 004
Vitalie Bumacov (Burgundy School of Business, France), “The use of Credit Scoring and
Poverty Scoring in microfinance institutions in developing countries” B2 004
2.4 Impact Evaluation of MFIs
Session chair: Ronny Manos

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
Christopher C. King (Saint Louis University, USA), “Evaluating the Performance of
Microfinance Programs by Measuring Changes in Income and Capital Scales”
Ronny Manos (The College of Management, Israel), “Determinants of Performance in the
Microfinance Industry: The Role of Culture”, coauthor Leonid Tsytrinbaum and Israel Drori
Hayyan Alia (University of Franche-Comté and Burgundy School of Business, France),
“Qualitative Economic Impact Evaluation in Microfinance: The Use of Diary Methods”
Heriyaldi (Padjadjaran University, Indonesia), “Does Microfinance Institution Improve
Welfare? A Double Difference Analysis of Indonesian Community-level Data”, coauthor Arief
Anshory Yusuf
Room: B2 006
2.5 5 Issues in Competition and Internationalization
Session chair: Djamchid Assadi
Djamchid Assadi (Burgundy School of Business, France), “Marketing Analysis of Emerging
Peer-to-Peer Markets on the Internet. A Case Study of Online Peer-to-Peer Lending Websites”
Paolo Casini (University of Leuven, Belgium), “Microcredit and Price Competition:
standardize to differentiate”
Jonas Gödicke (University of Agder, CERMi, Université Libre de Bruxelles, Belgium),
“Competition in Microfinance: Lessons from the Banking Literature”
Amila Buddhika Sirisena (University of Agder, Norway), “Internationalization of the
non-profit firm”
Room: B3 001
2.6 Financial Literacy
Session chair: Aljar Meesters
Aussi Sayinzoga (Wageningen University, Netherlands), “Financial education impact on
savings”, coauthors Erwin Bulte and Robert Lensink
Cherif Diagne (Audencia Nantes School of Management, France), “Financial Literacy and
Debt Literacy Amid the Poor”, coauthor Christophe Villa
Aljar Meesters (University of Groningen, Netherlands) “Evaluating the Impact of Training of
Microfinance Members on Financial Literacy and Livelihood”, coauthor Robert Lensink
Olga Biosca (Glasgow Caledonian University, UK), “Tightening the ‘Safety Net’: Microfinance
Health Services and Conditional Cash Transfers”, coauthors Pamela Lenton and Paul Mosley
Room: B3 008
2.7 Social Entrepreneurship and Self-employment
Session chair: Lars-Ivar Oppedal Berge
Lars-Ivar Oppedal Berge (Norwegian School of Economics, Norway), “Selection into

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
microfinance and entrepreneurship: Lab-evidence from Tanzania”, coauthor Armando Jose
Garcia Pires
Katarzyna Cieslik (CERMi, Université Libre de Bruxelles, Belgium), “Illicit Entrepreneurs –
Value Appropriation by Microfinance Clients in Rural Burundi”
Héger Gabteni (ESG Management School, France), “Microfinance as social
entrepreneurship”, coauthors Adil Bami and Ghasem Shiri
Kabir Ahmed (Central Bank of Bangladesh, Bangladesh) “Effect of Local Financial
Development on Rural Households’ Occupational Choices”
15:45 – 16:15 Coffee Break (outside Auditorium B1 018)
16:15 – 18:00 Parallel Sessions
Room: B2 003
3.1 Joint ILO and University of Mannheim Session
Session chair: Patricia Richter
How do MFIs contribute to improving clients’ livelihoods? Evidence from 15 impact
evaluations of the ILO Microfinance for Decent Work action research programme.
Presenters:
Niels Kemper (University of Mannheim), Andreas Landmann (University of
Mannheim), Manuel Margate (NWTF), Muhammed Waqar Tahir (NRSP),
Patricia Richter (ILO)
ILO Social Finance Programme and University of Mannheim, “How do MFIs contribute to
improving clients’ livelihoods? Evidence from 15 impact evaluations of the ILO Microfinance
for Decent Work action research programme. Synthesis Report.”
Brede, V., Froelich, M., Kemper, N., Richter, P. and R. Poppe, “Microfinance and Risk
Management: An impact assessment of an individual emergency fund, NWTF Philippines”
Landmann A. and M. Froelich, “Can Microfinance Help Prevent Child Labor? An Impact
Evaluation from Pakistan”
Room: B2 001
3.2 Evaluating the Performance and Management of MFIs
Session chair: Leif Atle Beisland
Hailemichael Tesfay Gessesse (Mekelle University, Ethiopia), “Efficienty of Microfinance
Institutions in Ethiopia: DEA Approach”, coauthor Guesh G/Meskel Ambaye
Isabelle Piot-Lepetit (Institut National de la Recherche Agronomique, France), “Performance
measurement and benchmarking paths for microfinance institutions with a
context-dependent DEA and outreach scorecard approach: An application to MC2 in
Cameroon”, coauthor Joseph Nzongang

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
Henri Tabi Ngoa (University of Yaounde Il-Soa, Cameroon), “Efficiency of Microfinance
Institutions in the fight against poverty in Cameroon: The Malmquist Approach”, coauthor
Henri Atanga Ondoa
Jean –Yves Moisseron (Institut de Recherche pour le Developpement, France),
“The Janus-figure of the Microfinance credit-agent between two orders of legitimacy”,
coauthor Hind Malanaïne
Adel Varghese (Texas A. & M. University, USA), “Correspondents as Screeners”
Leif Atle Beisland (University of Agder, Norway), “Staff Characteristics and the Exclusion of
Persons with Disabilities: Evidence from the Microfinance Industry in Uganda”, coauthor Roy
Mersland
Room: B2 002
3.3 Innovations in the Provision of Microfinance Services
Session chair: Glòria Estapé-Dubreuil
Eva Van Leemput (University of Notre Dame, USA), “Can Self-Help Groups Really be
‘Self-Help’?”, coauthors Brian Greaney and Joseph P. Kaboski
Glòria Estapé-Dubreuil (Autonomous University of Barcelona, Spain), “Accelerators and
Bottlenecks in the diffusion of social innovation of CIGALES micro-equity”, coauthors Arvind
Astha and Jean-Pierre Hédou
Laurence Attuel-Mendés (Burgundy School of Business, France), “Crowdfunding Platforms
for Microfinance: A New Way to Eradicate Poverty through the Creation of a Global Hub?”
Maude Massu (CARE International UK), “Connecting the World’s Poorest People to the Global
Economy”
Room: B2 004
3.4 Impact of Microfinance at the Macro Level
Session chair: Veronica Trujillo Tejada
Nargiza Alimukhamedova (Charles University, Czech Republic), “What do We Know About
Microfinance at Macro Glance?”
Eveline Baumann (Institut de Recherche pour le Developpement, France), “Senegal: the
Rise and Foretold Fall of Microfinance”, coauthor Mouhamedoune Abdoulaya Fall
Fabrizio Botti (University of Perugia, Italy), “Financial Exclusion and the Cost of Incomplete
Participation: Implications for Microfinance”, coauthor Carlo A. Bollino
Verónica Trujillo Tejada (Salamanca University, Spain), “Microfinance Regulation and market
development in Latin America”, coauthors Fernando Rodríguez López and Victoria Muriel
Patino
Room: B2 006
3.5 Gender, Perceptions and Microfinance
Session chair: Susan Steiner

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance MONDAY JUNE 10
Susan Steiner (Leibniz Universität Hannover, Germany), “Client Perceptions of the Value of
Microinsurance: Evidence from Southern Ghana”, coauthor Lena Giesbert
Ranveig Falch (Norwegian School of Economics, Norway), “Women, context and
competition: Findings from a lab-experiment in Uganda”, coauthors Kjetil Bjorvatn and
Ulrikke Hernæs
Marina De Angelis (Sapienza University, Italy), “Gender discrimination in Microfinance:
Evidence from Uganda”, coauthor Marcella Corsi
Marié Kirsten (Development Southern Africa Journal, South Africa), “Microfinance and
women’s well-being: evidence from South Africa”
Room: B3 008
3.6 Microinsurance for Household Risk Coping
Session chair: Yaya Koloma
Yaya Koloma (Higher Education School of International Agro-Development, France), “Crop
microinsurance, what is the particular relevance to farmers in Burkina?”, coauthor Gabriel
Neyra and Marc Oswald
Basanta K. Sahu Sahu (Indian Institute of Foreign Trade, India), “Building Security for the
Low Income Households: An Analysis of Microinsurance in India”
Muhammad Ali Qamar (Punjab University, Pakistan),“Micro-insurance: How to Make it
Success”, coauthor Sameen Masood
Room: B3 001
3.7 Investments and Issues in Microfinance
Session chair: Julia Meyer
Julia Meyer (University of Zurich, Switzerland), “Social versus Financial Return of
Investments in Microfinance”
Barbora Svárovská (Charles University, Czech Republic), “Can Investment in Microfinance
Funds Improve Risk-Return Characteristics of a Portfolio?”, coauthors Karel Janda and
Gordon Rausser
Marek Hudon (CERMi, Université Libre de Bruxelles, Belgium), “Effects of transformation of
microfinance institutions: Global empirical evidence”, coauthors Roy Mersland and Bert
D’Espallier
Pontus Engstrøm (University of Agder), “Microfinance and Entrepreneurship Theory”
18:30 DINNER
Location: UiA Cafeteria
Menu: Tapas Buffet
Music by Lisa and Svein Helge, Norwegian traditional songs and soft music

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY MONDAY JUNE 10 11
8:30 – 9:00 Registration (Building B, Main Foyer)
9:00 – 10.45 Plenary Session, Auditorium B1 018
Plenary Speakers
> Robert Lensink (University of Groningen, Netherlands), “The relevance of using
experimental games in microfinance research”
> Manuela Angelucci (University of Michigan, USA), “Randomized trial impact
evaluation of Compartamos”
> Valentina Hartarska (Auburn University, USA), “Savings and Sustainability of
Microfinance Institutions”
> Timothy Guinnane (Yale University, USA), “Historical institutions in today’s
microfinance landscape”
> Kjetil Bjorvatn (Norwegian School of Economics, Norway), “Youth and
Entrepreneurship in Tanzania”
Chair: Niels Hermes (University of Groningen, Netherlands)
10:45 – 11:15 Coffee Break (outside Auditorium B1 018)
11:15 – 13:00 Parallel Sessions
Room: B2 001
4.1 Multiple Borrowing and Over-indebtedness
Session chair: Miriam Matzanke
Benedikt Booker (University of Regensburg, Germany), “Good Intentions Pave the Way to…
the Local Moneylender”, coauthor Lutz G. Arnold
Ganga Tilakaratna (Institute for Policy Studies, Sri Lanka), “Microfinance and Multiple
Borrowing in Sri Lanka – Another Micro-credit Bubble in South Asia?”, coauthor David Hulme
Miriam Matzanke (University of Greenwich, UK), “Cross-borrowing and its impact on
micro-entrepreneurs’ indebtedness and well-being in Lima, Peru”, coauthors Ana Marr and
John Orchard
Carolina Laureti (CERMi, University of Mons, Université Libre de Bruxelles, Belgium),
“The Debt Puzzle in the Dhaka Slums: Clues on the Liquidity/Commitment Dilemma?”
Room: B2 002
4.2 Governance of Microfinance Institutions
Session chair: Trond Randøy
Niels Hermes (University of Groningen, Netherlands), “Making Microfinance Boards
Effective: An Empirical Analysis”, coauthors Neema Mori and Trond Randøy
Neema Mori (University of Agder, Norway), “Board Committees and Performance of
Microfinance Institutions: Evidence from Ethiopia”, coauthors Muluneh Dato and Roy
Mersland

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Trond Randøy (University of Agder, Norway), “The effect of Corporate Governance on
Microfinance Institutions’ Rating Scores: A Global Study”, coauthors Leif Atle Beisland and
Roy Mersland
Muluneh Hideto (Jimma University, Ethiopia), “Corporate Governance and Agency Costs in
Microfinance Organizations”, coauthors Roy Mersland and Daudi Pascal
Room: B2 003
4.3 <strong>European</strong> Microfinance Network Session
Session chair: Marcella Corsi
Glòria Estapé-Dubreuil (Autonomous University of Barcelona, Spain), “Analysing the
Micro-angels key success factors to alternative and sustainable development”
Marina De Angelis (Sapienza University, Italy), “Impact of microcredit in Europe: A social
performance analysis”, coauthors Fabrizio Botti and Marcella Corsi
Marinette Kamaha (Bordeaux University, France), “The social performance of the non-bank
microcredit in France”
Safia Sahaimi (Autonomous University of Madrid) “Risk Management and MFIs”
Room: B2 004
4.4 Behavioral Economics and Lending Methodologies
Session chair: Øystein Strøm
Bertil Tungodden (Norwegian School of Economics, Norway), “Disabled by stereotype?
Experimental evidence from Uganda”, coauthor Kjetil Bjorvatn
Øystein Strøm (Oslo and Akershus University College, Norway), “Group and Individual loan
in Microfinance”, coauthor Roy Mersland
Armando Jose Garcia Pires (Institute for <strong>Research</strong> in Economics and Business
Administration, Norway), “Can Lab Behavior Predict Entrepreneurship Outcomes”, coauthor
Lars-Ivar Oppedal Berge, Kjetil Bjorvatn, and Bertil Tungodden
Carmen Kislat (Leibniz Universität Hannover, Germany), “The use of Collateral in formal and
informal lending”, coauthors Lukas Menkhoff and Doris Neuberger
Room B2 006
4.5 Operational Efficiency of Microfinance Institutions
Session chair: Ranjula Bali Swain
Jaap W.B. Bos (Maastricht University, Netherlands), “Practice What you Preach:
Microfinance Business Models and Operational Efficiency”, coauthor Matteo Millone
Trishit Bandyopadhyay (XLRI School of Management, India), “The impact of the 2010 crisis
on the Operational Efficiency of Indian Microfinance Institutions (MFIs)”, coauthor Savita
Shankar
M.A. Baqui Khalily (Institute of Microfinance, Bangladesh), “Impact of Regulation on the

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Cost Efficiency of Microfinance Institutions in Bangladesh”, coauthors M. Abdul Khaleque
and S. Badruddoza
Ashim Kumar Kar (University of Helsinki, Finland) and Ranjula Bali Swain (Uppsala
University, Sweden) “Increased Competition among Microfinance Institutions and its effect
on Outreach, Financial Performance and Efficiency: Recent Cross-country Evidence”
Room: B3 001
4.6 Impact of Microcredit on Poverty Alleviation
Session chair: Britta Augsburg
Britta Augsburg (Institute for Fiscal Studies, UK), “Microfinance, Poverty and Education”,
coauthors Ralph De Haas, Heike Harmgart and Costas Meghir
Kumar Aniket (University of Cambridge, UK), “Beyond Microcredit: Giving the Poor a Way to
Save Their Way out of Poverty”
ATM Jahiruddin (Khulna University, Bangladesh), “Microcredit and poverty reduction – does
the same shoe fit all?”, coauthors Patricia Short, M. Adil Khan and Tania Afroze
E. A. Onemolease (Ambrose Alli University, Nigeria), “Effectiveness of private sector
intervention in Micro-credit delivery in Delta State of Nigeria. A case study of the Shell
Petroleum Development Company”, coauthor S.O. Alakpa
Room: B3 008
4.7 Microfinance Clients
Session chair: Anaïs Périlleux
13:00 – 14:00 Lunch at UiA Cafeteria
Charlotte Wagner (Finance in Motion, Germany), “Growth patterns of microfinance
clients – Evidence from Sub-Saharan Africa”, coauthor Adalbert Winkler
Madiha Khan (University of Malakand, Pakistan), “Is ROSCA an alternative funding source
for the poor?”
Eddy Balemba Kanyurhi (Université Catholique de Bukavu, DRC), “Microfinance and
Customers’ satisfaction: a scale measurement development”
Anaïs Périlleux (CERMi, IRES, CIRTES, Université Catholique de Louvain, Belgium) and Mark
Labie (CERMi, University of Mons, Belgium), “Positive incentives in Microfinance: A game
theory approach”, coauthor Thomas Brihaye and Julie de Pril
14:00 – 15:45 Parallel Sessions
Room: B2 001
5.1 Relationship between Entrepreneurial Activity and Microfinance
Session chair: Ben Soltane
Ben Soltane (Higher Institute of Management, Tunisia) “The Effect of Microfinance Factors
and Opportunity on Women Entrepreneurs’ Performance in Tunisia”, coauthor Imen Elmezni

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Ana Beatriz Santos (Norwegian School of Economics, Norway), “Can entrepreneurial skills
be taught? Experimental evidence from young Tanzania”
Nhung Thi Hong Vu (University of Groningen, Netherlands), “Business Training Services: A
Randomized Experiment among Female Microfinance Clients in Vietnam”, coauthors Robert
Lensink and Erwin Bulte
Neil McHugh (Glasgow Caledonian University, UK), “First Steps towards Self-employment –
Microcredit for Enterprise in Scotland”
Room B2 002
5.2 Formal vs. Informal Lending
Session chair: Solène Morvant-Roux
Chau N. H. Nguyen (Monash University, Australia), “Does microcredit change informal
lending in village economies? Evidence from Bangladesh”, coauthors Asadul Islam and
Russell Smyth
Samuel Lee (New York University, USA) “Financing from Family and Friends”, coauthor Petra
Persson
Solène Morvant-Roux (Fribourg University, Switzerland), “Agricultural Labour, Family
Networks and Formal Credit Rationing in Western Mexico”, coauthors Emmanuelle Bouquet
and Gerardo Rodríguez-Solis
Kristina Walker Pedersen (University of Agder), “Informal Savings and Loan Associations:
Where are we now and what have we learned? An Overview”
Room: B2 003
5.3 University Meets Microfinance (UMM) Student Session
Session Chair: Karla Henning (UMM team)
Nicole Tode (University of Goethe, Germany), “Transforming Microfinance Institutions: A
possible way to go for Moroccan Microcredit Associations”
Mohammad Sadiqunnabi Choudhury (University of East London, UK), “Vulnerability to
Poverty – Insurance Role of Microsavings against Crises in Northeast Rural Bangladesh”
Mikael Parachos (ESSEC Business School, France), “Credit bureau in Egypte – lessons
learnt”
Muluneh Hideto (Jimma University, Ethiopia), “Corporate governance and firm growth in
microfinance organizations”, coauthors Roy Mersland and Daudi Pascal
Session Chair: Karla Henning (UMM team)

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Room: B2 004
5.4 Loan Size and Repayment Rates
Session chair: Lucia dalla Pellegrina
Lucia dalla Pellegrina (Bocconi University, Italy), “Friends, Family and Fools: Co-signers and
Repayment Rates in Microcredit. Evidence from Italy”, coauthor Anotonio Scollo
Anastasia Cozarenco (Aix-Marseille University, France), “Microcredit in Developed Countries:
Unexpected Consequences of Loan-Size Ceilings”, coauthor Ariane Szafarz
Rajalaxmi Kamath (Indian Institute of Management, India), “MFI (Microfinance Institutes)
Borrowers: Their loans and Repayments – A study in Ramanagaram, India”, coauthors Abhi
Dattasharma and Smita Ramanathan
A.C. Karunaratna (University of Ruhuna, Sri Lanka), “Recent Challenges in Microfinance
Recovery: Evidence from Sri Lanka”, coauthor Silvia M.W.S.S
Room: B2 006
5.5 Risk Management in Microfinance Institutions
Session chair: Gregor Dorfleitner
S. Badruddoza (Institute of Microfinance, Bangladesh), “Seasonality of Microcredit Supply
in Bangladesh”
Gregor Dorfleitner (University of Regensburg, Germany), “Modeling defaults of Microfinance
Institutions”, coauthors Michaela Leidl and Christopher Priberny
Asif Dowla (St. Mary’s College of Maryland, USA), “Bankers to the poor, bother to the state –
Political Risks in Microfinance”
Begoña Gutiérrez-Nieto (University of Zaragoza, Spain), “A Social Approach to Microfinance
Credit Scoring” , coauthors Carlos Serrano Cinca and Nydia M. Reyes
Room: B3 001
5.6 Impact of Savings Groups and Microsavings on Household Welfare
Session chair: Ole Dahl Rasmussen
Abiola Babajide (Covenant University, Nigeria), “Microsavings mobilization innovations and
poverty alleviation in Nigeria”
Daniel Rozas (Financial Access Initiative, Belgium), “The Business Models behind MFI
Deposits”
Ole Dahl Rasmussen (University of Southern Denmark, Denmark), “The impact of Village
savings and Loans Associations on Household Welfare: Evidence from a Cluster Randomized
Trial”, coauthors Christopher Ksoll, Helene Bie Lilleør and Jonas Helth Lønborg

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Sophie Romana (Oxfam America), “Saving for Change: Financial Inclusion and resilience for
the world’s poorest people”
15:45 – 16:15 Coffee Break (outside Auditorium B1 018)
16:15 – 18:00 Parallel Sessions
Room: B2 001
6.1 Assessment of Financial Performance of MFI’s
Session Chair: Galina Andreeva
Mathias Schmit (Université Libre de Bruxelles, Belgium) “Tier 1 MFIs Financial Performance:
Cash-flow statement analysis”, coauthor Gautier Dumont
Definta Ria Astuti (Universitas Indonesia, Indonesia), “The Impact of Macroeconomic on the
Financial Performance of the Microfinance Institutions in Java Island, Indonesia”, coauthor
Bambang Hermanto
Knar Khachatryan (SKEMA Business School, France), “Performance and Capital Structure of
Microfinance Institutions in Eastern Europe and Central Asia”, coauthor Valentina Hartarska
Galina Andreeva (University of Edinburgh, UK), “Profitability analysis of a Colombian
microcredit programme”, coauthors Luis Javier Sánchez and Jake Ansell
Room: B2 002
6.2 Mobile Money and Branchless Banking
Session chair: Robert Vermeulen
Francesc Prior Sanz (Universitat Internacional de Catalunya, Spain), “Mobile financial
services in Mediterranean Partner countries”
HK Pradhan (Xavier Labour Relations Institute, India), “Branchless Banking: A Business
Linkage for Financial Inclusion in India”, coauthor Amit Raje
Baptiste Venet (University Paris-Dauphine, France), “Financial Behavior and mobile banking
in Madagascar: Promises are only binding to those who believe them”, coauthor Florence
Arestoff
Robert Vermeulen, (De Nederlandsche Bank, Netherlands), “Migrant’s Choice of Remittance
Channel: Do General Payment Habits play a Role?”, coauthor Anneke Kosse
Room: B2 004
6.3 Regulation and Policy Issues in Microfinance
Session chair: Samapti Guha
Verónica Trujillo Tejada (Salamanca University, Spain), “How is microfinance industry been
regulated in Latin America?”, coauthors Victoria Muriel Patino and Fernando Rodríguez
López

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Tawheed Reza Noor (Jawaharlal Nehru University, India), “Regulatory Control over
Microfinance in Bangladesh: Upcoming Issues and Challenges”
Samapti Guha (Tata Institute of Social Sciences, India), “Does Regulatory framework of
Microfinance Institutions matter in the economic benefit of customers? Evidence from
Urban Slums in Mumbai”, coauthor Chandralekha Ghosh
Mahboob Elahi Akhter (Central Bank of Bangladesh, Bangladesh), “Policy Issues of
Micro-finance: A case study from Bangladesh”, coauthor Tanbeen Hasan
Room: B3 001
6.4 Microfinance and Development
Session chair: Maricruz Lacalle-Calderón
Maricruz Lacalle-Calderón (Autonomous University of Madrid, Spain), “Microfinance and
foreign aid in Financing Development: A comparative Analysis”, coauthor Javiel Alfonso-Gil
Mohshin Habib (Swinburne University of Technology, Australia), “The Impact of
Microfinance on food Consumption: A quasi-experimental research approach in
Bangladesh”, coauthor Christine Jubb
Bagus Aryo (Universitas Indonesia, Indonesia), “Ideological perspective of policy makers’
on market-based poverty alleviation and microfinance: A case study of state sponsored
microfinance programme in Indonesia”
Ahmed Smahi (Université de Tlemcen, Algeria), “Impact Assessment of Microfinance on
Poor Household Using Subjectif Data: Evidence from Algeria”
Room: B3 008
6.5 Microfinance in a Different Context
Session chair: Ariane Szafarz
Neil McHugh (Glasgow Caledonian University, UK), “Indicators used to measure the effect of
microcredit interventions on health: a systematic review (preliminary results)” , coauthors
Cam Donaldson, Rachel Baker and Sylvie Vigneux
Ariane Szafarz (CERMi, Université Libre de Bruxelles, Belgium), “Vive la Différence: Social
Banks and Reciprocity in the Credit Market”, coauthor Simon Cornée
Rashidah Abdul Rahman (Universiti Technologi Mara, Malaysia), “Bank Staff’s Intention to
apply Islamic Micro-Investment Model (IMM): Empirical Evidence from Malaysia”, coauthor
Aliyu Dahiru Muhammad and Ismail Mahayuddin
Muhammad Zubair (Islamic Microfinance Network, Pakistan), “Islamic Microfinance – An
effect tool for Poverty Alleviation and Sustainable Development”

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance TUESDAY JUNE 11
Room: B2 006
6.6 Transformation and Business Models in Microfinance
Session chair: Bernd Balkenhol
Marek Hudon (CERMi, Université Libre de Bruxelles, Belgium), “Transforming social
enterprises: the case of Kenyan and Vietnamese microfinance institutions”, coauthor Céline
Louche
Kim Wagenaar (University of Cambridge, UK), “Institutional transformation and mission
drift in microfinance”
Phillipe Louis (University of Leuven, Belgium), “Do for-profit microfinance institutions
achieve better financial efficiency and social impact? A generalized estimation equations
panel data approach”, coauthor Bart Baesens
Bernd Balkenhol (University of Geneva, Italy), “Micro-franchising – a new frontier in
micro-finance?”
19:30 GALA DINNER hosted by Alliance Microfinance AS and Strømme Microfinance AS
Location: Christiansholm Fortress (Kristiansand City Center)
Menu: Norwegian seafood buffet
Music by saxophonist Pontus Engstrøm with band

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance WEDNESDAY JUNE 12
9:00 – 10.45 Plenary Session, Auditorium B1 018
Plenary Speakers
> Marcella Corsi (Sapienza University, Italy), “Microfinance in Europe: Where do
we stand?”
> Marek Hudon (CERMi, Université Libre de Bruxelles, Belgium), “Subsidies and
Microfinance: What do we know?”
> Isabelle Guérin (Institute of <strong>Research</strong> for Development, France), “Microfinance
crisis: Evidence from the field”
> Roy Mersland (University of Agder, Norway), “The future of microfinance:
Market opportunities and historical insights”
Chair: Trond Randøy (University of Agder, Norway)
10:45 – 11:15 Coffee Break (outside Auditorium B1 018)
11:15 – 13:00 Parallel Sessions
Room: B2 001
7.1 Women’s Participation in Financial Services
Session chair: Susan Johnson
Bert D’Espallier (Hogeschool-Universiteit Brussel, Belgium), “Barriers to Self-Employment”,
coauthor Isabelle Guérin
Susan Johnson (University of Bath, UK), “’We don’t have this is mine and this is his’:
managing money and the character of conjugality”
Anaïs Périlleux (CERMi, IRES, CIRTES, Université Catholique de Louvain, Belgium), “Female
Managers in Hybrid Organizations: Evidence from Financial Cooperatives in Senegal”,
coauthor Ariane Szafarz
Supriya Garikipati (University of Liverpool, UK), “Borrowing and Women’s Empowerment:
Does Type of Credit Matter?”, coauthors Isabelle Agier, Isabelle Guérin and Ariane Szafarz 7.2
Room: B2 002
Group Lending and Peer-to-peer Lending
Session chair: Thilo Klein
Britta Augsburg (Institute for Fiscal Studies, UK), “Group Lending or Individual Lending?
Evidence from a Randomized Field Experiment in Rural Mongolia”, coauthors Orazio
Attanasio, Ralph De Haas, Emløa Fitzsimons and Heike Harmgart
Thilo Klein (University of Cambridge, UK), “Anti-diversification pay! A model of
endogenous matching and repayment in Thai group lending”
Anjana Dube (Indian Institute of Management, India), “Micro-finance Group Processes.
Effect of Threat Perception, Peer Pressure and Joint Liability”, coauthors Ramadhar Singh

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance WEDNESDAY JUNE 12
and Rajalaxmi Kamath
Djamchid Assadi (Burgundy School of Business, France), “Do People Say What the
Brands Want Them to Say? The case of the social lending websites: Kiva and Zopa”
Room: B2 004
7.3 Impact of Self-help Groups
Session chair: Madhubala Swami
Madhubala Swami (R.A.D.A.V. College, India), “Microfinance Activities of Self-Help Groups in
Urban India: A Case Study”
M.M. Goel (Kurukshetra University, India), “Microfinance in India – An Evaluation of Self
Help Groups Scheme”, coauthor Virander Pal Goyal
Vasanthakumari (N.S.S. College, India), “Social Performance of SHG affiliated micro credit
based enterprises in India: A study with special reference to capacity building and social
upliftment of rural women”
Room: B2 006
7.4 Financial Sustainability of MFIs and Poverty Outreach
Session chair: Fabrizio Botti
Fabrizio Botti (University of Perugia, Italy), “Walking on a tightrope: Balancing MF financial
sustainability and poverty orientation in Mali”, coauthor Renata Serra
Gashaw Tadesse Abate (University of Trento, Italy), “Financial Sustainability and Outreach
of Microfinance Institutions in Ethiopia: Does Organizational Form Matter?”, coauthors
Carlo Borzaga and Kindie Getnet
Gladys Edusei (Université d’Aix – Marseille II – DEFI, France) “Microfinance Double Bottom
Line Impact Assessment in sub-Saharan Africa”
Ganka Daniel Nyamsogoro (Mzumbe University, Tanzania), “Microfinance Outreach and
Financial Sustainability: A simultaneous causality analysis”
Room: B3 001
7.5 Social Impact of Microfinance Institutions
Session chair: Muhammad Moshfique Uddin
Muhammad Moshfique Uddin (University of York, UK) and Abu Saleh Mohammad
Musa (Microfinance EXPOSURE, Bangladesh), “Social Performance Situation Assessment
of Microfinance Sector in Bangladesh”
Andrew Crawford (Monash University, Australia), “Are profitable microfinance programs
less efficient at reaching the poor? A case study in Cambodia”, coauthors Michael
Skully and David Tripe

<strong>Third</strong> <strong>European</strong> <strong>Research</strong> <strong>Conference</strong> on Microfinance WEDNESDAY JUNE 12
Thanawit Bunsit (Thaksin University, Thailand), “The Impact of Microfinance on Happiness
and Wellbeing in rural Thailand”
Mawenu Robert (Mountains of the Moon University, Uganda), “How do low income-parents
pay school fees? A diary based inquiry from Western Uganda”, coauthor Oliver Schmidt
Room: B3 008
7.6 Mission Drift and Efficiency of Microfinance Institutions
Session chair: Sarath Abeysekera
Sarath Abeysekera (University of Manitoba, Canada), “Sustainability and Mission Drift:
Do Microfinance Institutions in Vietnam Reach the Poor”, coauthors Umut Oguzoglu and
Thanh Tam Le
Akem Noela Forkusam (Carl Von Ossietzky University, Germany), “Does financial
globalization affect microfinance mission drift: Empirical evidence from Sub Saharan Africa”
N. Vijaya (Kakatiya University, India), “Mainstreaming of Micro Finance in India – An
Imperative”
Session chair: Sarath Abeysekera
13:00 – 14:00 Lunch at UiA Cafeteria
END OF CONFERENCE

NORWEGIAN CENTRE FOR MICROFINANCE RESEARCH
www.microfinanceresearch.org
SUPPORTED BY
Local organising
committee:
Roy Mersland
<strong>Conference</strong> Chair
Trond Randøy
Leif Atle Beisland
Unni S. Holbrook
Daudi Pascal
Celeste De la Huerta