Microfinance Institutions (MFIs) are a special case in the financial world. They have a double financial and social role and need to be efficient at both. In this paper we try to measure the efficiency of MFIs in relation to financial and social outputs using Data Envelopment Analysis. For the analysis of financial efficiency we rely on existing literature for traditional financial institutions. To this we have added two indicators of social performance: impact on women, and a poverty reach index. A series of hypotheses on MFIs have been entertained, that concern the relationship between social and financial efficiency, and the relationship between efficiency and other indicators, such as profitability. Other aspects studied are the relation between social efficiency and type of institution -Non-Governmental Organisation (NGO), non-NGO-, and the importance of geographical region of activity. The results reveal the importance of social efficiency assessment.
JEL Classification: G290
Microfinance Institutions (MFIs) are special financial institutions. They have both a social nature and a for-profit nature. Their performance has been traditionally measured by means of financial ratios. The paper uses a Data Envelopment Analysis (DEA) approach to efficiency to show that ratio analysis does not capture DEA efficiency.Special care is taken in the specification of the DEA model. We take a methodological approach based on multivariate analysis. We rank DEA efficiencies under different models and specifications; e.g., particular sets of inputs and outputs. This serves to explore what is behind a DEA score.The results show that we can explain MFIs efficiency by means of four principal components of efficiency, and this way we are able to understand differences between DEA scores. It is shown that there are country effects on efficiency; and effects that depend on Non-governmental Organization (NGO)/non-NGO status of the MFI.
Technological knowledge and skills provide a basis for developing national competitiveness. However, there is an emerging clash of interests in the UK labour market between employers and policy makers. The former requests highly skilled workers who often jealously train in house for their specific operations while the latter aims to reduce unemployment through the expansion of vocational training to lower skilled workers. Universities need to find their strategic position in the knowledge economy characterised by radical technological change and shifting occupational structure by meeting the future skills demand while balancing between the clashing institutional interests. This study analyses 510 job advertisements in the supply chain management area, using a combination of OMDS and HCA techniques. The advertisements are categorised by means of six dimensions according to the skills, duties and job type. This study analyses not only employers' needs in skill types according to job roles but also emerging institutional clashes in the job market and their implications for skills training policy and curriculum development.
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