今日世界上的貧窮人口依舊高達約十億人。這些窮人因為缺乏信用紀錄與所得扣繳證明等各種因素，故無法取得正式的金融中介服務。因此，對發展中國家而言，發展另類的金融機構提供窮人一個合理的借貸管道便成為一個重要的議題。本文旨在探討這樣的一個新管道--微型貸款(以孟加拉的葛拉敏銀行為代表）。並針對微型貸款蒐集相關實證研究及探討一些金融中介服務的測量指標與微型貸款的評價模式及其效益，再介紹中國大慶市商業銀行實施微型貸款的成效及其所遭遇到的困難和花旗銀行在世界各國推廣微貸的歷程。結果發現，借款者的這些行為決策並不一定會提升他們家庭內的所得水準。也就是說，微型貸款並不一定能去除貧窮。此外本文也提到MFI可以用剩餘價值法來評價(未來資本結構如改變很多則不適用)。還有微貸具備高資產品質與低beta之特性，故納入投組可降低投組整體波動度。中國大慶市商業銀銀行、花旗銀行在減輕貧窮這個世界性的議題貢獻良多。最後冀望台灣政府協助金字塔最底層貧窮民眾獲得金融服務管道，為未來經濟成長創造一個更寬廣而永續之基礎。There are almost ten billions poor people all over the world. These people can’t achieve official financial services due to the lack credit history and official income records. For this reason the developing special finance institutes to provide poor people a reasonable way to borrow or lend money has become a very important issue. In this study we introduces one kind of these special finance institute—microfinance (Grameen Bank in Bangladesh is a represent ). Besides we discuss some empirical studies about microfinance, analyzes some indicators for measuring financial services, some methods for evaluating microfinance and its effect. Moreover, this thesis also introduces the effects of Da-Cheng city commercial bank in Mainland China to provide microfinance, the hardships which Da-Cheng city commercial bank met during developing microfinance and the history of Citizen bank to develop microfinance. The result showed that the these decisions not necessarily lead to increase income of households. In the other words, microfinance does not necessarily lead to alleviate poverty. Moreover we also mention that people can use residual value method to price microfinance (only applies to these companies with stable capital structure). Moreover, microfinance has features of high quality of assets and low beta. So, investors can reduce volatility of portfolio by holding stock of companies which provide microfinance. Further, Da-Cheng commercial bank and Citizen bank contribute a lot to alleviate poverty. Finally, we hope the Taiwan government can provide poor people formal methods to achieve financial services in order to create a broader way to improve the economy growth rate of Taiwan.
