Montpellier Business School

Dr. Cozarenco Anastasia

Cozarenco Anastasia
Fonction Associate professor
Research themes Social finance, microfinance, applied econometrics, gender, discrimination
Teaching department Finance & accounting
Contact Tel: +33 (0)4 67 10 26 35
Short Bio

Dr. Anastasia Cozarenco is an associate professor of economics at Montpellier Business School. She holds a PhD in economics from Aix-Marseille School of Economics and benefited from the postdoctoral fellowship at the Centre for European Research in Microfinance (CERMi), Université libre de Bruxelles. Her current research is focused on social finance and microfinance with special attention to regulation, non-financial services, subsidization, discrimination and gender, from theoretical and empirical perspectives. She holds the Social and Sustainable Finance Chair at Montpellier Business School created in partnership with the Caisse d’Epargne Languedoc Roussillon. She is the head of Sustainable & Inclusive Finance Master of Science and the Director of the Yunus Center for Social Business and Financial Inclusion at Montpellier Business School. Anastasia is also a member of the European Microfinance Network Research Committee. She published articles in Journal of Business Ethics, Journal of Banking and Finance, Applied Economics, Small Business Economics, and Economics Letters. In 2022, she graduated from the International Teachers Programme (ITP) at INSEAD, Fontainebleau, France.

Selected intellectual contributions

Bennouri M., Cozarenco A. & Nyarko S.A. Forthcoming. Women on boards and performance trade-offs in social enterprises: Insights from microfinance. Journal of Business Ethics.

Bourlès R., Cozarenco A., Henriet D. & Joutard X. 2022. Business training with a better informed lender: Theory and evidence from microcredit in France. Annals of Economics and Statistics, 148: 65-108.

Cozarenco A. & Szafarz A. Forthcoming. Financial inclusion in developed countries: Gender gap or poverty trap? In V. Hartarska and R.Cull (Eds.), Handbook of Microfinance, Financial Inclusion and Development, 272-296. Edward Elgar Publishing.

Cornée S., Cozarenco A. & Szafarz A. Forthcoming. The changing role of banks in the financial system: Social versus conventional banks. In C. Gaganis, F. Pasiouras., M. Tasiou & Z. Constantin (Eds.), Sustainable Finance and ESG: Risk, Management, Regulations, and Implications for Financial Institutions. Palgrave Macmillan Studies in Banking and Financial Institutions.

Cozarenco A., Hartarska V. & Szafarz A. 2022. Subsidies to microfinance institutions: How do they affect cost efficiency and mission drift? Applied Economics, 54(22): 5099-5132.

Cozarenco A. & Szafarz A. 2020. Microcrédit : même bien intentionnée, la réglementation peut éloigner des objectifs sociaux. The Conversation. []

Cozarenco A. & Szafarz A. 2020. The regulation of prosocial lending: Are loan ceilings effective? Journal of Banking and Finance, 121: 105979.

Boysselle J., Granata J., Pourreau C., Hoang V., Cozarenco A., Delis M., Hollebeek L., Dumazer C., Meyer M., Marais M. & Etchanchu H. 2020. Conséquence de la crise du COVID. Comment gérer le changement avec efficacité et bienveillance. Livre Blanc, Montpellier Business School. Publishing Education.


2014 - ongoing: Microfinance: Theory and Practice (PGE, Montpellier Business School)
2015 - ongoing: Microfinance in Europe (European Microfinance Program, Université Libre de Bruxelles)
2016 - 2017: Statistics (PGE, Montpellier Business School)
2016: International Trade (BIBA, Montpellier Business School and La Trobe University (Melbourne, Australia))
2015: Microfinance in Europe (Undergraduate level, Glasgow Caledonian University)
2015: Econometrics Applied to Microfinance Research (PhD, Université Libre de Bruxelles)
2013: Statistics (B.S. Economics, Aix Marseille University)
2012 - 2013: Probability theory (B.S. Economics, Aix Marseille University)
2010 - 2011: Microeconomics (B.S. Economics, Aix Marseille University)
2010: Applied Mathematics (B.S. Economics, Aix Marseille University)

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