Working Group on Microfinance

Mission

The aim of this group is to conduct empirical and theoretical research on various aspects of microfinance.

Current working papers

Dorfleitner, G., Leidl, M. and Priberny, C. (2013): Explaining Failures of Microfinance Institutions, Working Paper, Social Science Research Network : SSRN (2013).

Events

April 23rd, 2013:
On April 23rd, 2013 Prof. Muhammad Yunus visited the Working Group on Microfinance and held a lecture on "social business". Afterwards, the audience used the opportunity to ask Prof. Yunus about his personal experiences with microfinance and social entrepreneurship.

Prof. Dr. Lutz Arnold

Department of Economic Theory

Prof. Dr. Gregor Dorfleitner

Department of Finance

Marina Markheim, M.Sc.

Department of Economic Theory

• microcredit and information asymmetry,
• particularly monitoring, moral hazard,
• hyperbolic discounting

Dr. Christopher Priberny

Department of Finance

• refinancing of microfinance institutions;
• structured microfinance

Dr. Michaela Röhe

Department of Finance

• microfinance investments;
• refinancing of microfinance institutions;
• dual return of microfinance investments

Eva-Maria Oswald, B.Sc.

Department of Finance

• micro loan distribution via peer-to-peer-lending

Publications

• Dorfleitner, G., Leidl, M., Priberny, C. and von Mosch, J. (2013): What determines microcredit interest rates?, Applied Financial Economics, 23(20), S. 1579-1597.
• Arnold, L. G., Reeder, J. and Trepl, S. (2013), "Single-name credit risk, portfolio risk, and credit rationing", Economica, forthcoming.
• Arnold L. G. and Booker B. (2013), "Good intentions pave the way to ... the local moneylender", Economics Letters 118(3), 466–469.
• Dorfleitner, G. and Priberny, C. (2013), "A quantitative model for structured microfinance", The Quarterly Review of Economics and Finance 53(1), 12–22.
• Dorfleitner, G. and Priberny, C. (2013), "Risk perception and foreign exchange risk management in microfinance", Journal of Management and Sustainability 3(2), 68–78.
• Arnold, L., Reeder, J. and Steger, S. (2013), "On the viability of group lending when microfinance meets the market: A reconsideration of the Besley-Coate model", Journal of Emerging Market Finance 12(1), 59–106.
• Dorfleitner, G., Leidl, M. and Reeder, J. (2012), "Theory of social returns in portfolio choice with application to microfinance", Journal of Asset Management 13(6), 384–400.
• Dorfleitner, G. and Leidl, M. (2011), "Kleine Kredite, große Rendite? Zur Refinanzierung von Mikrokrediten", Blick in die Wissenschaft 24, 41–46.
• Dorfleitner, G., Leidl, M. and Priberny, C.(2011), "Microcredit as an Asset Class: Structured Microfinance", in: Köhn, Doris, (Ed.), Mobilising Capital for Emerging Markets: What Can Structured Finance Contribute?, Berlin: Springer, 137–154.
• Leidl, M. and Dorfleitner, G. (2008), "Investitionen in Mikrokredite: Die Entwicklung einer neuen Assetklasse", Saarbrücken: VDM.