Microfinance Group Processes and Crises: Responses to Economic and Psychological Threats
研究小额信贷机构群体过程中成员对潜在违约的反应，发现成员能区分不同类型的同伴压力和连带责任，且心理威胁是理解还款危机的关键。
We examine micro-finance institutions (MFI) group processes simulating potential default by members, often the tipping point of crises. Using structural equation methods to develop measurement models and experimental methodology to test causal effects of economic and psychological threats we effectively capture the risks perceived by individual borrowers. We defined these threats in terms of a given financial loss and reputation loss. The results show that members make the subtle distinction between different types of peer pressure and joint liability. We also show that psychological threats perceived by borrowers are key to understanding MFI group processes, especially as triggers to a repayment crisis.