naa a22 4500 51073569X CHVBK 20180411083009.0 cr unu---uuuuu 180411e20130701xx s 000 0 eng 10.1007/s11573-013-0668-2 doi (NATIONALLICENCE)springer-10.1007/s11573-013-0668-2 Foreign ownership in Latin American microfinance institutions: evidence and impact [Elektronische Daten] [Fernanda Martins, Adalbert Winkler] Based on a unique dataset covering 84 institutions operating in 15 countries this paper provides evidence as to the impact of foreign ownership on microfinance sustainability and outreach in Latin America. Overall, we find that foreign-owned microfinance institutions have more borrowers than domestic-owned institutions. This suggests that foreign investors, mainly development finance institutions and other investors with close ties to the microfinance industry, exert governance in line with their stated policy goal: expanding financial inclusion among microentrepreneurs and poor households. In contrast to this, majority ownership of foreign investors neither provides a strong push towards the sustainability of microfinance institutions nor does it lead to "mission drift”, i.e. microfinance institutions issuing larger loans to comparatively wealthier clients. Springer-Verlag Berlin Heidelberg, 2013 Microfinance nationallicence Foreign banks nationallicence Sustainability nationallicence Outreach nationallicence Martins Fernanda Finance in Motion, Technical Assistance Management, Theodor-Stern-Kai 1, 60596, Frankfurt am Main, Germany aut Winkler Adalbert Frankfurt School of Finance and Management, Centre for Development Finance, Sonnemannstr. 9-11, 60314, Frankfurt am Main, Germany aut Journal of Business Economics Springer Berlin Heidelberg 83/6(2013-07-01), 665-702 0044-2372 83:6<665 2013 83 11573 https://doi.org/10.1007/s11573-013-0668-2 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11573-013-0668-2 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Martins Fernanda Finance in Motion, Technical Assistance Management, Theodor-Stern-Kai 1, 60596, Frankfurt am Main, Germany aut NATIONALLICENCE 700 1- Winkler Adalbert Frankfurt School of Finance and Management, Centre for Development Finance, Sonnemannstr. 9-11, 60314, Frankfurt am Main, Germany aut NATIONALLICENCE 773 0- Journal of Business Economics Springer Berlin Heidelberg 83/6(2013-07-01), 665-702 0044-2372 83:6<665 2013 83 11573 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer