微型金融機構社會責任與財務績效雙目標關係之研究－以亞洲四國為例

Research on the Relationship between Social Responsibility Objective and Financial Performance Objective of Micro Financial Institutions-By Example of Four Asian Countries

陳立斌(Li-Ping Chen)

《管理資訊計算》 9卷特刊1 (2020/08) Pp. 53-63

https://doi.org/10.6285/MIC.202008/SP_01_9.0006

摘要

本研究探討微型金融機構社會責任與財務績效雙重目標之關係。微型金融機構除了協助弱勢的社會責任目標外，還需達到使機構本身能持續生存發展的財務目標，若雙重目標能同時達成，則微型金融可能成為開發中國家脫離貧窮的重要手段。對此，本研究針對孟加拉、巴基斯坦、印度及中國等亞洲國家之微型金融機構以多元迴歸模型進行研究，以財務績效變數為被解釋變數，並選取社會責任績效變數為解釋變數，藉以探討提升社會責任績效對財務績效之影響為何，若為正向的影響即代表社會目標與財務績效目標是可同時達成的。本研究發現大體上提升社會績效變數對財務績效（包括獲利能力、效率、員工生產力等指標）是有正向影響的。實證結果顯示，社會責任績效變數如客戶維持率（BRR）、女性借款人比率（WOP） 及借款客戶人數（NUB）等若提升，財務績效亦將提升，代表微型金融機構的雙重目標大致上可同時達成，此與近期文獻如Reichert（2018）及Meyer（2019）等之發現相似。本研究為文獻中首次使用股東權益報酬率（ROE）做為財務績效變數，並發現其實證結果與以總資產報酬率（ROA）做為財務績效變數之結果幾乎相同。

關鍵字

微型金融 ； 微型金融機構 ； 社會責任目標

並列摘要

This research explores whether the objectives of social responsibility and financial performance of microfinance institutions can be balanced. In addition to the social responsibility goal of helping the poor, microfinance institutions also need to achieve financial goals which enable the institutions themselves to survive and develop. If dual goals can be achieved, microfinance may become an important mean for developing countries to escape poverty. In this regard, the research focuses on micro-finance institutions in Bangladesh, Pakistan, India and China using multiple regression models to study. Financial performance variables are used as the explained variables, and social responsibility performance variables are used as the explanatory variables to discuss the impact of the promotion of social responsibility on financial performance. If the aforementioned impact is positive, it means that social goals and financial performance goals can be balanced. This research found that generally speaking promotion of social performance variables has a positive impact on financial performance (including profitability, efficiency, employee productivity and other indicators). The empirical results show that if social responsibility performance variables such as customer retention rate (BRR), female borrower ratio(WOP) and number of borrowing customers(NUB) increase, financial performance will also increase, similar to the findings of recent literature such as Reichert(2018) and Meyer (2019) . This research is the first in the literature to use shareholder's return on equity (ROE) as a financial performance variable, and found that its empirical results are almost the same as the results using total asset return (ROA) as a financial performance variable.

並列關鍵字

Microfinance ； Microfinance Institutions ； Social Responsibility Objective

參考文獻

詹益昇(2014)。微型金融的雙基線研究：社會責任政策與借貸模式影響(未出版之碩士論文)。國立臺灣大學，台北市。 doi: 10.6342/NTU.2014.01556

Gutierrez-Nieto, B., Serrano-Cinca, C., & Mar Molinero, C. (2017). Social efficiency in microfinance institutions. Journal of the Operational Research Society, 60(1), 104-119. doi: 10.1057/palgrave.jors.2602527

Hishigsuren, G. (2007). Evaluating Mission Drift in Microfinance: Lessons for Programs with Social Mission. Evaluation Review, 31(3), 203–206. doi: 10.1177/0193841X06297886

Lam, S., & Zhang, W. (2019). Reciprocity Between Financial and Social Performance in Microfinance Institutions. Public Performance & Management Review, 43, 206-231. doi: 10.1080/15309576.2019.1604386

Lensink, R. (2018). Do microfinance institutions benefit from integrating financial and nonfinancial services? Applied Economics, 50(21), 2386-2401. doi: 10.1080/00036846.2017.1397852