本文以南亞地區六國的94家微型金融機構為樣本，探討微型金融機構在雙基線目標下，經營者如何在財務性目標及社會性目標兩者間作取捨。財務性目標衡量微型金融機構永續性經營的能力，第一個指標為30天逾期貸款比例 (PAR30) 衡量還款情形，第二個指標為營運自足率 (OSS) 衡量收入支應成本的程度，第三個指標為平均每位借款者負擔成本 (OCB) 衡量成本結構。社會性目標衡量微型金融機構服務貧窮客戶的程度，以貸款利率 (Yield) 及平均每人貸款額度 (ALB) 為代表。本研究結果顯示微型金融機構可以藉由調整利率政策以及貸款規模政策來對兩個目標做出權衡。此外，本文並探討微型金融機構的其他相關議題，包括評價方法、多角化議題及除貧成效。Using regression analysis we study the determinants of self-sustainability of a sample of microfinance institution in South Asia. There are 94 MFIs in South Asia. We investigate particularly three aspects of sustainability: repayment of loans, cost coverage by revenue and cost control. We also investigate two aspects of social objective: yield and average loan per borrower. Our results suggest MFIs could change yield and average loan per borrower to balanced double bottom line objective. Our contribution is assessing the ability of a set of MFIs to reach sustainability without harming outreach to the poor. Finally, we will introduce MFIs’ valuation model, diversified effect and poverty alleviation.
