On the Tradeoffs of Private Capital Entering the Rural Finance Service:A Case Study of Micro-credit Companies
基于57家小额贷款公司数据，研究私人资本投资的小额信贷机构如何实现盈利，并分析盈利与覆盖贫困人口之间的关系，发现两者可兼容，不存在使命漂移。
The sustainability and outreach of commercialization of microfinance,that is,MFIs being invested by private capital,could get win - win effect.Using survey data from 57 microcredit companies(MCCs),this paper analyzes the way how to get profitability and the relationship between profitability and outreach.We get three results:firstly,raising interest rates may improve the profitability but lower loan quality for many MCCs. Secondly,there is a U -shaped relationship between loan costs and average loan size.Finally,the profitability and outreach to the poor can be compatible,and there is no evidence of mission drift.