000			02148nam a2200229 4500
999			_c51426 _d51426
003			OSt
005			20190612122926.0
008			190612b ||||| |||| 00| 0 eng d
100			_aSaraswathy Amma, K. P. _933709
245			_aDo regulations and governance quality impact performance of MFIs in India?
300			_a3-14 p.
520			_aWe explore the relationship between performance, regulations and governance quality of Microfinance Institutions (MFIs) through a survey conducted among CxOs and board of directors of top 55 MFIs in India. We study the effect of AP ordinance (2010) (taken as a proxy for regulation), boardroom conflicts (taken as a proxy for governance quality) and the recent demonetization policy of Government of India on the performance of the MFIs in India. The results show that AP ordinance and boardroom conflicts have had a negative impact on the performance of the MFIs. As per public interest theory, regulations are good for correcting market failures and upgrading the existing practices and hence have a positive impact on the performance. However, our research proves that AP ordinance has a negative impact on the performance of the firm and hence does not support the theory in the Indian context. Diversity and experience in the board could lead to conflicts and delayed decision making, having a negative impact on the performance of the firm. Our research survey confirms this theory. Managers’ powers are limited by the external environment, and the state has more powers to set the field. However, our empirical model does not support the negative impact of demonetization on the performance of MFIs. There is a dearth of study on Indian MFI industry, and this paper contributes to narrow that gap.
653			_aMFI
653			_aRegulation
653			_aAP ordinance board conflicts
653			_aDemonetization
653			_aGovernance
700			_aKannan, Gopalakrishnan _933710
700			_aParthasarathy, Lakshmi _933711
773	0		_029297 _974850 _aCHAKRABARTI, BHASKAR _dINDIAN INSTITUTE OF MANAGEMENT CALCUTTA CALCUTTA _o55510426 _tDECISION _x0304-0941
942			_2ddc _cJA-ARTICLE