[1]张正平,陈 杨,陈 欣,等.资本结构影响微型金融机构的社会绩效吗?——基于MIX非平衡面板数据的实证检验[J].金融教育研究,2021,(05):3-12.
　ZHANG Zhengping,CHEN Yang,CHEN Xin,et al.Does the Capital Structure Affect the Social Performance of Microfinance Institutions?——An Empirical Test Based on MIX Unbalanced Panel Data[J].,2021,(05):3-12.
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资本结构影响微型金融机构的社会绩效吗?——基于MIX非平衡面板数据的实证检验()
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《金融教育研究》[ISSN:1006-6977/CN:61-1281/TN]

卷:
期数:
2021年05期
页码:
3-12
栏目:
本期特稿
出版日期:
2021-09-25

文章信息/Info

Title:
Does the Capital Structure Affect the Social Performance of Microfinance Institutions?——An Empirical Test Based on MIX Unbalanced Panel Data
文章编号:
2095-0098(2021)05-0003-10
作者:
张正平1;  陈 杨1;  陈 欣1;  刘旭晶2
1.北京工商大学 经济学院,北京 100048; 2.中国民生银行 北京分行,北京 100621
Author(s):
ZHANG Zhengping1;  CHEN Yang1;  CHEN Xin1;  LIU Xujing2
1.School of Economics,Beijing Technology and Business University,Beijing 100048,China; 2.Beijing Branch,China Minsheng Bank,Beijing 100621,China
关键词:
微型金融机构;  资本结构;  社会绩效;  非平衡面板数据
Keywords:
MFIs;  Capital structure;  Social performance;  Unbalanced panel data
分类号:
F832.3
文献标志码:
A
摘要:
微型金融已被世界银行等国际组织看作是减缓贫困、促进发展的一种重要创新,因此,改善微型金融机构的社会绩效(即服务贫困的目标人群的能力)至关重要。为此,利用2009—2015年全球1969家微型金融机构的非平衡面板数据,实证检验了资本结构对微型金融机构社会绩效的影响及其异质性。研究发现:一方面,资本结构的代理变量资产负债率的提高有利于微型金融机构扩大其覆盖广度(服务更多的目标人群),从而促进其社会绩效的改善; 另一方面,不同的所有权形式和融资方式下,资产负债率对微型金融机构社会绩效的影响存在异质性。上述结论对我国各类微型金融机构更好地服务脱贫攻坚战略、提升社会绩效、推进乡村振兴具有重要的现实意义。
Abstract:
Microfinance has been recognized by international organizations such as the World Bank as an important innovation to alleviate poverty and promote development.Therefore,improving the social performance of microfinance institutions(i.e.,their ability to serve the target population of poverty)is critical.By using the unbalanced panel data of 1,969 MFIs from 2009 to 2015,this paper empirically test the impact of capital structure on the social performance of MFIs and its heterogeneity.The results show that:on the one hand,the increase of asset-liability ratio,the proxy variable of capital structure,is conducive to the expansion of MFIs' coverage(to serve more target groups),thus promoting the improvement of their social performance; On the other hand,under different ownership forms and financing methods,the impact of asset-liability ratio on the social performance of MFIs is heterogeneous.The above conclusions have important practical significance for all kinds of micro financial institutions in China to better serve the strategy of poverty alleviation,improve social performance and promote rural revitalization.

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备注/Memo

备注/Memo:
收稿日期:2021-03-08
基金项目:国家自然科学基金项目“乡村振兴战略背景下我国农村数字普惠金融的形成机制及其风险治理研究”(71873011)
作者简介:张正平(1976-),男,湖北武汉人,博士,教授,博士生导师,研究方向为农村金融、微型金融、数字金融。
更新日期/Last Update: 2021-09-25