Microfinance Chair – Activities
The chair’s aim is to conduct activities that include research, teaching, conferences, workshops, and other events.
The chair’s research topics focus on microfinance in developed countries. These topics include:
- Business models of Microfinance Institutions (MFIs), bank and MFI partnerships
- Social and financial performances
- Social banks
- Discrimination and “affirmative action” in the (micro)credit market
- Public involvement and regulation in the microcredit market in Europe
- Impact of support services
- Entrepreneurship, entrepreneurial motivation
Articles/Chapters of published works:
Title in English: Does the motivation of micro-entrepreneurs have an influence on their performance?
Abstract: In this article, we study the impact of entrepreneurial motivation on the performance of companies that have used microcredit in France. Using a survey from clients of the MFI Créa-Sol, we separate entrepreneurs by necessity (those who choose to create a business for lack of a better option) from entrepreneurs by opportunity (for whom entrepreneurship is a choice and who wish to take advantage of a market opportunity). We then empirically study the effect of this motivation on the repayment of microcredit and the survival of the micro-businesses. After inspecting the declarative nature of the motivation, it appears that entrepreneurs by necessity find it more difficult to repay their loans, but that their companies do not have shorter lifespans than those of entrepreneurs by opportunity. The superior financial performance of companies created by opportunity seems to account for this result.
As part of the Chair for Microfinance in Developed Countries, Montpellier Business School has created the Specialised Master of Science in Responsible Finance: Financial Inclusion, Microfinance, and Social Innovation:
Limited access to financial services, or financial exclusion is a difficult reality for a large part of the world’s population; both in developed and developing countries. Financial exclusion is strongly linked to poverty and thus compounds social exclusion. Public and international aid has its limits in the fight against poverty. In contrast, social innovations like the microfinance movement offer market-based solutions to combat poverty and social exclusion through improved access to financial services. These social innovations are precisely what make up one of the main axes of this MSc.
For more information on this specialisation:
Dr Anastasia Cozarenco teaches the course “Microfinance in Developed Countries” as part of the European Microfinance Programme at the Université Libre de Bruxelles. The objective of this programme is to train future microfinance professionals who will contribute to the sustainability of the industry in all regions of the world, meeting the highest international standards.
For more information on the European Microfinance Programme:
Students interested in the chair’s topics may conduct internships with its partners or other organisations that are active in the microfinance sector. The academic follow-up to these internships may be carried out by a professor who is a member of the chair.
In 2019, the Chaire co-organizes or participate to 2 major events:
- Lecture from Muhammad Yunus, Nobel Peace Prize 2006, Montpellier Business School, 4 March 2019
- 6th European Research Conference on Microfinance, Paris, 3–5 June 2019, co-organised by Montpellier Business School, Université Paris Dauphine and the Institut de Recherche pour le Développement (IRD). Conference website: https://ercm2019.sciencesconf.org/. Every two years since 2009, the European Microfinance Platform (e-MFP) has organised the European Research Conference on Microfinance in collaboration with European universities. The Research Conference is a unique event that brings together senior researchers, academics, professionals and students to ensure that the latest research is disseminated to the broader microfinance community. The conference also aims to promote scientific exchanges between academia and policy makers. This is particularly reflected by the regular and significant presence of stakeholders from the microfinance industry at the conference.
Dr Anastasia Cozarenco, Chair holder: firstname.lastname@example.org